RSS FeedHas a pre-approved announcement by HSBC for its Platinum card, thought what the heck, pulled the trigger and got this!
Congratulations! Her application was been approved.
You with a credit limit of $ 1000.
Thank you been approved for us as your partner credit. Your online application is now complete.
If your application is currently under review, you can return to our site at any time to verify the status of your application.
Enjoy the purchasing power you deserve!
What in the world am I doing with a $ 1k credit card?
My FICO is 781 – they are crazy? Currently, my bottom line is with Discover with $ 5,500 and the highest with Amex at $ 17,000!
Should I call and ask for a higher limit?
AARRRRRRRRGHHHHHH! I can not believe I wasted a request for this!
Reply: This might seem like a dumb question as I'm just now learning the ins & outs of trying to fix my credit and re-build but from everything I've read on the various credit boards I thought HSBC was basically considered a card for people re-building so why would someone with a super high FICO & other CC with large CL even apply with them??
If I had a high FICO like that I would be out app the various prime lenders and/or some select CU.
See post #13 for more details.
in several countries abroad hsbc is actually straight uber prime (kinda like our amex) and deservingly so in those countries, the US cc operations are underserviced and continue to suffer from red headed step child syndrome.
Reply: This might seem like a dumb question as I'm just now learning the ins & outs of trying to fix my credit and re-build but from everything I've read on the various credit boards I thought HSBC was basically considered a card for people re-building so why would someone with a super high FICO & other CC with large CL even apply with them??
If I had a high FICO like that I would be out app the various prime lenders and/or some select CU.
Because HSBC has SOME prime offerings, not to mention that are the current servicer on the NM and Saks cards…and there is a world MC associated with Saks.
There are many lenders out there that cater to both ends of the credit spectrum and HSBC is no different.
Reply:This might seem like a dumb question as I'm just now learning the ins & outs of trying to fix my credit and re-build but from everything I've read on the various credit boards I thought HSBC was basically considered a card for people re-building so why would someone with a super high FICO & other CC with large CL even apply with them??
If I had a high FICO like that I would be out app the various prime lenders and/or some select CU.
Reply:guy:
Initial approval for 25k, sock-drawered.
I see that I have 300 rewards points, don't know how I managed those.
Bob
Reply: They WERE more generous back in 2005.
Bob did you get this 25k in one shot or thru regular CLIs?
Reply: They WERE more generous back in 2005.
This, Bob, is of high note!!!
Reply: another question is, what in the world do you need a $17,000 credit line for?
I have seen people on this board with $45k cards! My own brother has an Amex with $26k!
I probably will never use the whole CL on any of my cards, but it sure is nice to know they are there if me and wife ever hit a rough patch!
ONLY $45,000???
ONLY $26,000???
Reply: UPDATE****
Called HSBC.
First I got a John from someplace in India (I think). John transfers me to someone locally (meaning in the U.S. – again, I think). I politely explained to this U.S. based person that based on my credit history and HHI, 1K card would not add any value to my current portfolio of cards and that I would like a higher CL. The lady politely tells me that yes, I probably deserve a higher CLI however due to the "current economic environment" HSBC is being "cautious" on new credit being extended!
At this time I am thinking to myself "oh boy, this isn't going well" so to not waste anymore time I simply advised the representative "I understand but do me a favor then – there is no need to send me the card as it won't be activated much less used". She then starts going on and on about how great of a company HSBC is and bla bla blah – at which time I decided to wrap up the call.
ARRRRRGGGHHHHH I am so pissed that I used an inquiry for nothing!
ARRRRRGGHHHHHH
IT WILL ONLY HURT FOR A YEAR
(unless it was TU or EQ and you can "B" it)
Reply: another question is, what in the world do you need a $17,000 credit line for?
I have seen people on this board with $45k cards! My own brother has an Amex with $26k!
I probably will never use the whole CL on any of my cards, but it sure is nice to know they are there if me and wife ever hit a rough patch!
Reply:UPDATE****
Called HSBC.
First I got a John from someplace in India (I think). John transfers me to someone locally (meaning in the U.S. – again, I think). I politely explained to this U.S. based person that based on my credit history and HHI, 1K card would not add any value to my current portfolio of cards and that I would like a higher CL. The lady politely tells me that yes, I probably deserve a higher CL however due to the "current economic environment" HSBC is being "cautious" on new credit being extended!
At this time I am thinking to myself "oh boy, this isn't going well" so to not waste anymore time I simply advised the representative "I understand but do me a favor then – there is no need to send me the card as it won't be activated much less used". She then starts going on and on about how great of a company HSBC is and bla bla blah – at which time I decided to wrap up the call.
ARRRRRGGGHHHHH I am so pissed that I used an inquiry for nothing!
ARRRRRGGHHHHHH
Reply: another question is, what in the world do you need a $17,000 credit line for?
THAT IS A FUNNY QUESTION
Reply: Received a pre-approved notice from HSBC for their Platinum card, thought what the heck, pulled the trigger and got this!
Congratulations! Your application has been approved.
You have been approved with a credit limit of $ 1000.
Thank you for choosing us as your credit partner. Your online application is now complete.
If your application is currently in review, you may return to our website at any time to check the status of your application.
Enjoy the buying power you deserve!
What in the WORLD am I going to do with a $1k credit card?!
My FICO is 781 – are they crazy? Currently my lowest limit is with Discover at $5,500 and the highest is with Amex at $17,000!
Should I call them and ask for a higher line?
AARRRRRRRRGHHHHHH!!!! I can't believe I wasted an inquiry for this!
TELL THEM YOU DON'T NEED A "TOY" CARD
I did that with STATE FARM VISA
It was $4,000 under my lowest credit limit at the time
Reply:If you want higher credit limits with HSBC, you have to apply for specific "prime" cards they offer. Such as….the Weekender, Saks 5th Avenue, etc… Applying for one of their pre-approvals or a generic offering usually won't get you a decent credit limit with them. Looks like you applied for their "platinum" offering…which is lower limit….and probably goes to $3k max cl or so. I did the same thing many years ago, then got one of their prime cards later on. The difference in how each card grew and initial limits was huge.
It's also probably pointless to argue with them about it. It's all about the card segmentation with them; rather than your credit profile. They will treat their prime card holders very different from their non-prime card holders, where CLIs are concerned.
Sorry this happened to you, OP. You really do have to watch carefully where they are concerned…much the same as Cap 1.
Reply:I'd tell them to take their card and shove it.
Reply:They WERE more generous back in 2005.
Reply: $1k is generous for HSBC. My grandfather with 830 fico and 50k+ lines was given $750 from them… Requested CLI on activation denied(HARD) and again after a few months they gave +500 and another HARD! Be careful asking for CLI from them!
I agree. They seem to only hand out small limits now. Back in 2005 and 2006 you could get up to $7000!!!
Reply:$1k is generous for HSBC. My grandfather with 830 fico and 50k+ lines was given $750 from them… Requested CLI on activation denied(HARD) and again after a few months they gave +500 and another HARD! Be careful asking for CLI from them!
Reply: another question is, what in the world do you need a $17,000 credit line for?
seriously?
Some of us actually USE our cards…
you use $17k/mo or more in credit or are we talking about revolving balances?
Other than a BT offer, the most I let report in one cycle on one card was about $12.5K. The majority of that was incurred just prior to statement close and since I was still on the road, it was not a big deal to let it report.
Ordinarily I would not want to have that on a statement closing due to the hit on per-card utilization.
Reply: another question is, what in the world do you need a $17,000 credit line for?
seriously?
Some of us actually USE our cards…
you use $17k/mo or more in credit or are we talking about revolving balances?
Reply: Received a pre-approved notice from HSBC for their Platinum card, thought what the heck, pulled the trigger and got this!
Congratulations! Your application has been approved.
You have been approved with a credit limit of $ 1000.
Thank you for choosing us as your credit partner. Your online application is now complete.
If your application is currently in review, you may return to our website at any time to check the status of your application.
Enjoy the buying power you deserve!
What in the WORLD am I going to do with a $1k credit card?!
My FICO is 781 – are they crazy? Currently my lowest limit is with Discover at $5,500 and the highest is with Amex at $17,000!
Should I call them and ask for a higher line?
AARRRRRRRRGHHHHHH!!!! I can't believe I wasted an inquiry for this!
Get the increase now if you can, because once you are in, it is next to impossible to get an increase. Good luck!!!
Reply: another question is, what in the world do you need a $17,000 credit line for?
seriously?
Some of us actually USE our cards…
Reply:Ask them to match your highest line and then work downward from there when they object. You should give them a call, it can't hurt. $1000 for a platinum line is skimpy.
Reply:another question is, what in the world do you need a $17,000 credit line for?
Reply:I would call them.
I would also be happy as heck to get a 1K card limit
In your case it does not make sense though.
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- AMEX revolving card limit question [revolving card] [high limit]
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October 16th, 2011 
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