Just got an SMS saying my credit limit request has not been successful.
Whet your appetite with promises of 4 / 2 / or 1% rebate - but heaven forbid you put all your spending on that card!
If you're buying a new car, stick to the Premier MC with only 0.4% rebate please.
That could be their logic.
Possibly the reason for the relatively low limits some people have is that HSBC assigns each customer a maximum aggregate limit on all credit cards and the Red Card, being the last one applied for, only gets a limit equal to what's left after allowing for the limits on the applicant's other cards?
Received my rejection letter yesterday. Form letter with no real reason given. Al the reasons provided besides “Other reasons” not really applicable or could have been easily countered. I’ve been thinking about switching banks or just pulling majority out and let it sit in the US so don’t want to peruse this any further other than to call them and tell them what a bunch of muppets they are and drop a few f bombs.
... actually you're right. I never bothered to check what limit they gave for my Red card, but it's not far off from the Premier MC. Possibly debunks the other theory too.
Maybe they throw dice, or have a roulette wheel?
The Premier / Advance cards come automatically with the accounts (without income proof), but I had a standalone HSBC card from many many years ago, then applied with usual salary proof etc... - but I assume it's a different quota in their systems? Maybe it matters which quota your card gets "filed" under? (They gave me the red, I didn't apply - so no idea where that lies).
Case in point: I have a Hang Seng MC with default limit by association with something, but recently applied for the Enjoy VISA (for Wellcome supermarket discount). They asked for the usual stuff; I couldn't be bothered, suggested they share limit with my existing card - and got just that. To date they have no idea what I earn (thank goodness... they'll take the card back!).