HSBC Premier and Credit Cards

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  1. #11

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    I sometimes wonder if its all a part of a cunning plan to create FUD and move customers up the cost ladder to get the same service that they could have gotten otherwise.


  2. #12

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    Quote Originally Posted by chimo:
    You want to have two Premier accounts, so logically that would require two x HK$1M/CA$150K? Yes yes, I know, it is always the banks fault and never ours...

    If you just want a HK credit card, no need to have a Premier account.
    Premier doesn't work like that. You have one host account and the other accounts around the world do not need to be funded. That's actually the POINT of premier..... aimed at expats.

  3. #13

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    Quote Originally Posted by MovingIn07:
    I've done the same as you without problem - but I think we are missing the point - I never got a credit card.
    I forgot to mention I obtained credit cards through those accounts too.

  4. #14

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    Thanks for the replies, so it does seem possible to get foreign credit cards without having to have a certain "wealth level" before doing so.

    There's no problem with opening an HK account for me, I don't need to maintain the HK$1 million requirement as I already qualify in Canada. I already have accounts in the US and UK.

    What struck a nerve with me was the refusal to open a HK credit card for me because I wasn't a "rich" enough Premier client to be worth the hassle. (They want me to deposit the equivalent of HK$2 million with HSBC Canada before giving me this service). I thought the whole selling point of Premier was that I could enjoy the same benefits at home anywhere in the world.

    I did tell my RM that I am pretty cheesed over this, but he basically said "Sorry that's how it works".

    Last edited by tng11; 28-07-2009 at 01:16 AM.

  5. #15

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    Although the evidence we have from others is that it's NOT how it works .... I'd deal with your HK RM direct by email once the account is opened; that might help (although they are notoriously poor here and you have to fill in a million forms to get anything!)


  6. #16

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    The difference between HSBC Premier Master and their regular visa is basically nil anyway, so who cares?


  7. #17

    I literally just picked up a leaflet in HSBC at lunch today- certainly for HK Premier residents one of the facilities is to allow you to open a credit card account overseas in advance of any moves and yes you would automatically be entitled to a premier account here whatever yr balance if you have one in canada. I didn't read the small print and know there are differences between entitlements in markets so guess you need to ask them direct...


  8. #18

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    Quote Originally Posted by MovingIn07:
    Although the evidence we have from others is that it's NOT how it works .... I'd deal with your HK RM direct by email once the account is opened; that might help (although they are notoriously poor here and you have to fill in a million forms to get anything!)
    Thanks for your input. From reading your previous posts, I think I'm going to go the route of opening an Offshore account as well and talk to the people there, as what I've read on some previous threads is that the HK staff is a PITA to deal with.

  9. #19

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    Excuse my ignorance, but could someone please educate me on the benefits of an HSBC offshore account? What are the main purposes for it compared to an account in HK? Who mainly uses it as well?

    Thanks!


  10. #20

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    I have an HSBC Offshore account for two reasons:

    1) They often have better time deposit / savings rates in USD/GBP/EUR than HSBC (or other HK banks)

    2) It gives me a way to move money in and out of UK bank accounts without incurring transfer charges (because HSBC-HSBC is free for Premiers, and domestic UK transfers are free generally)

    And added bonus I discovered is that HSBC Offshore accounts come with a debit card which works on iTunes, which doesn't accept HK issued cards.