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Another Credit Card rant

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  1. #1

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    Another Credit Card rant

    So I have been trying to apply for an HSBC credit card for several times, all being rejected. At first they told me I need to show 3 months salary (I only had 1 at the time) so I waited for the 3rd month and still rejected. I called in their credit card department and was told that although I meet the salary requirements, my employment contract (which I had to bring in twice to get it faxed over) is a one year contract with option to renew. But because it states one year, they cannot give me a credit card because they feel I am not stable enough.

    Is this odd? I was so annoyed that I told them if they do not trust me with a credit card, I do not trust them with my money and will close my bank accounts and my investment accounts with them. Why should I buy my stocks and securities from HSBC if they cannot even trust me with a credit card. Even though I have been with HSBC HK for only 8 months, I have my payroll directly deposited into my account. I am no premier, I am only an Advance customer, yet they still cannot give me a credit card when my salary is roughly double the average income in HK. I might be a small potato, but they are treating me like crap. Especially since I have read others being granted credit cards without proof of employment, or 3 months salary. My friend in my company was able to get a HSBC credit card with the exact same contract as mine, but I am not. Are they just jerking me around?

    Either case, I will withdraw my funds from HSBC. Does anyone know a good bank to bank with that can also offer a good credit card? I was thinking Standard Chartered Bank. I need to have an account that can hold CDN, USD and RMB (without charging ridiculous fees [HSBC charges to put RMB in my account]) and also a credit card.

    Thanks!


  2. #2

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    I would recommend standard chartered. I find it strange you are been rejected for credit card, do you have a bad credit history in your native country?


  3. #3

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    Quote Originally Posted by Henryf4:
    I would recommend standard chartered. I find it strange you are been rejected for credit card, do you have a bad credit history in your native country?
    If they were to see my credit history in Canada, then I don't think I would get rejected.

    I had a high limit for when I was a student. I would always pay my credit card right away, was never late and my limits kept increasing and increasing.

  4. #4

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    My husband and I had the same problem recently, despite both having permanent contracts and a decent income (as well as no previous credit issues at all). Oh, and we've been in HK for over a YEAR, with all relevant earnings proof!

    They had actually lost all of the paperwork originally and we had to re-send this twice so I'm not sure if that's something to do with it. Either way, they're not getting our money when there's plenty of other options!


  5. #5

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    >> So I have been trying to apply for an HSBC credit card for several times, all being rejected.

    Sorry if this sounds harsh, but why does everyone think that HSBC is the only bank in town? Dozens of others .. and most of them are happy to deal with expats.

    Try SCB / Citibank / Bank of East Asia for starters...


  6. #6

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    HSBC is only one of many banks in HK but all expats seem to have tunnel vision when selecting banks. Go with another. There are dozens of threads here recommending better banks.

    Edit: shri got there first.


  7. #7

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    >> They had actually lost all of the paperwork originally and we had to re-send this twice so I'm not sure if that's something to do with it.

    Excuses. Thats their way of telling you that you're not worth dealing with and its time you moved on.


  8. #8

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    Quote Originally Posted by BryanL:
    I have my payroll directly deposited into my account. I am no premier, I am only an Advance customer, yet they still cannot give me a credit card when my salary is roughly double the average income in HK. I might be a small potato, but they are treating me like crap. Thanks!
    Bryan, that sounds weird. With an Advanced account, there is a HSBC Advance Platinum card that is pre-approved. I signed up for the Advanced account about 3-4 weeks ago, and got my Visa card last week - pretty quick IMO. Originally, I was informed that I would not need to submit any proof of income, however, a week after applying, I got a letter from the credit department stating that they would need a copy of my employment contract. A week after faxing my contract, I got the card in the mail. On top of that, I was not asked to show 3 months proof of income, and my contract just started.

    Maybe it would be better to speak with another representative from another branch, and ask what they mean by 'pre-approved' platinum card.

  9. #9

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    Quote Originally Posted by IMJuksing:

    Maybe it would be better to speak with another representative from another branch
    Or another bank! FFS.

  10. #10

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    Don't take it so personally. They fed your profile into a computer, and it rejected you.


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