New HSBC card - and it's a goodie!

MSE_Martin

Don't have the time to write on this or alter the articles yet. But thought the top tarts out there would like the info asap.

The following is HSBC's press release (so remember it is their spin): What's very interesting is the repayment priorities

Enjoy

Martin

_________________________________

Bank deals a fair hand of cards with 0% offer

5 November 2004: HSBC has this week launched a zero per cent credit card deal with a difference.

Not only does the rate apply to both balance transfers and new purchases for up to nine or 10 months, but cardholders also get a free extended warranty that could save hundreds of pounds in repair bills. Available on HSBC’s Classic Plus, Gold and Premier credit cards, the offer is:

zero per cent on purchases until September 2005, irrespective of when the card is taken out;
zero per cent on balance transfers for a full nine months from the date of the transfer;
and

a free extended warranty that applies to up to three new household appliances purchased with the card within the first 12 months.
The cards have a long-term rate of 9.9 per cent for the Premier, 14.9 per cent for the Gold and 15.9 per cent for the Classic Plus card. The offer closes on 31 December.

HSBC’s head of cards, Linda Wyles said: "Lots of card providers offer zero per cent deals but many seem to involve a ‘catch’ like a minimum amount to spend or the fact that they pay off the cheapest debt first — eating into the benefits of having a good rate. Many card companies also only offer the deal for up to six months. At HSBC we don’t think that’s fair.

"Unlike many card issuers HSBC also treats cash withdrawals like purchases, offering the same interest-free period of up to 56 days and, unusually, the most expensive debt on the card is always paid off first."

.

Shinds

I signed for one on Monday 1st Nov!

;D ;D

charlie12

Good stuff. I've had a Gold card with them for several years now with big limit. Tried calling them up for an offer but they offered something silly like 6.9% Life Of Balance Will close this and re-apply in a month.

"Unlike many card issuers HSBC also treats cash withdrawals like purchases, offering the same interest-free period of up to 56 days and, unusually, the most expensive debt on the card is always paid off first."

This bit is slightly misleading, I think, as cash withdrawals are entitled to the 56-day interest-free period BUT also attract an immediate cash withdrawal fee (of 1.5% I believe)

Martinslovechild

I signed for one on Monday 1st Nov!

;D ;D

Snap!!!

;D ;D

paul4798

Hi Guys you can apply online here:

http://www.ukpersonal.hsbc.co.uk/hsbc/personal_banking/credit-cards/card-details#gold

thanks

Paul

MSE_Martin

PS and if any of you want to wait over the weekend - we may have a MSE link coming next week (same thing,but helps the site)

martin

oscarhugo

PS and if any of you want to wait over the weekend - we may have a MSE link coming next week (same thing,but helps the site)

martin

Sorry -- we all came too soon.... (I applied in-branch yesterday & got accepted - albeit with a relatively low c/l of 2.5k. But that was the day after I got turned down [again] for the Halifax One card... - despite the fact that it's months since I cancelled my previous Halifax/BoS cards)

Margaret_Millne

Tried calling them up for an offer but they offered something silly like 6.9% Life Of Balance Will close this and re-apply in a month.

I would hold off cancelling an HSBC card at the moment. My daughter got a letter in September(?) I think it was, offering her 1.9% for six months on balance transfer, and my husband has just in the last week or so had the same letter. I am now waiting for them to send me one ;D

It is unusual I think for them to offer you 6.9% anyway, as the standard offer is 3.9% for six months. At the end of the six months we have balance transferred to another card and then back again, hence we have had 3.9% for well over a year now.

charlie12

I would hold off cancelling an HSBC card at the moment.  My daughter got a letter in September(?) I think it was, offering her 1.9% for six months on balance transfer, and my husband has just in the last week or so had the same letter.  I am now waiting for them to send me one ;D

It is unusual I think for them to offer you 6.9% anyway, as the standard offer is 3.9% for six months.  At the end of the six months we have balance transferred to another card and then back again, hence we have had 3.9% for well over a year now.

Interesting, thanks, I'll hold out a bit longer

Yes 6.9% was rather disappointing, I actually told them that I'd be better off BT'ing to another card and back, to get 3.9% for six months, and then repeat after 6 months, just like you are doing! I think there's a limit of 6 transfers a year though. They still refused to give me a better offer, in fact I've found them rather useless for existing customer deals

MattLG

Is the MSE link available yet? I'm getting twitchy fingers :-)

MattLG

paul4798

Please accept my apologies Martin i hope you get your link soon.


You can delete the link if you want.

Paul