HSBC Advance BT offer rate and moving current acct

withaspritz · 20 October 2018 at 1:08AM

Hi all

I’m getting hacked off with HSBC customer service and frankly want to move my Advance current account to another bank

There’s a potential fly in the ointment though - I transferred a credit card balance from a non HSBC card to a new HSBC Advance credit card to take advantage of their 32 month 0% offer, which I am about a year into settling

The question is - if I leave HSBC for my current account closing the account as part of the CASS, will they start charging interest on the credit card?

I can’t find that info anywhere in the terms and conditions

Many thanks
Spritz

Craig1981 · 20 October 2018 at 5:09AM

bet to give them a ring and find out, but cannot see why they would cancel - as you rightly said, doesnt mention anything about it in their terms and conditions, all it says is :

Please note: To maintain your HSBC Credit Card after
you have benefited from this offer, you will need to
continue to comply with the HSBC Bank Credit Card
Terms and Conditions and the applicable parts of the
Personal Banking Terms and Conditions and Charges.

18cc · 20 October 2018 at 8:10AM

I believe the Advance CC is only available to those who hold an Advance Account: "Advance Credit Card
Available exclusively for existing HSBC Advance customers" so it might well get either cancelled (unlikely) or downgraded to an ordinary CC with the lost of the 0% offer as you won't be complying with the T&C (ie having an Advance account). Worth askig them.

withaspritz · 20 October 2018 at 11:35AM

Thanks for the help everyone

I did as recommended and rang them, and they confirmed the rate wouldn't change if I closed my bank account

He said once the rate is promised nothing can change it

I remain slightly skeptical - I got the chap's name for future ref, but worst case I can just do another balance transfer to another 0% card and dump the red bank for good

Update: have actioned the CASS to NatWest (whom I already have a current account with, but dormant) to take advantage of their £125 offer. Will keep the thread updated to find out if it does indeed stay 0% with HSBC sans advance account

18cc · 20 October 2018 at 4:58PM

Thanks would be interested to know!

withaspritz · 29 November 2018 at 2:26PM

Replying to this, as it's been over a month and today got my first statement following account closure

I can confirm they were right and the interest is still 0% on the BT

However I have noticed that the regular BT offer emails have stopped, so I can't transfer anymore balances to the card at 0% (+2.9% fee) like I could when I had the current account.

Hopefully this may help someone.

HSBC Advance BT offer rate and moving current acct

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