Problems with credit card from HSBC - reducing limits

[blackwings]

Reading the rejections of cc from some here, I actually got a credit card from HSBC but they set my limit too high . Much too high for my liking. I am an expat. No permanent HKID.

I requested a decrease and my card has a zero balance on it but they rejected my request to reduce the limit to at least half.

Anyone else having the same issue? It seems unusual.

[emx]

No one is forcing you to spend up to your limit.

Self control or leave the card at home if you can not.

[shri]

If you're worried about theft / security / overspending, ask them for a low limit card which is not tied into your existing credit limit. Use that for day to day walking around expenses.

A high limit card can be beneficial for making high dollar purchases, which you can afford - if there are some good rewards associated it with the purchases.

Knowing how fickle they are, I'd not rush out to lower limits and find out that one day, when you're stuck somewhere and need a high $ amount, your limits are too low.

[mrgoodkat]

You should be able to change it online with the pin device.

[blackwings]

I did send in the form and even pin down the limit. Both refused. They said they reviewed and decided not to proceed with the instructions.

It is not about spending to my limit . I use it for work related expenses - air tickets to book direct from the airlines cheaper and secure cheaper hotel rooms. Paid off once reimbursement comes hence a zero balance on it. Because I am travelling out again and had experienced a fraud overseas , on precaution it is better to lower the limit.

While it is easy to say leave the card at home, some hotels in Europe demand to see the same credit card used. A particular airline (it is a good airline) ties my booking to my card and passport. So no card no fly and no stay. Insurance wise is covered by my organisation plus my own annual coverage and most countries I enter have a healthcare agreement with my country. So the really bad emergencies have insurance covering medical evacuations.

The current limit they gave me - is enough to buy a brand new car ....that's way too much imo.

[jgl]

Try walk into a branch, ask the teller to fill out the form requesting a limit reduction, and have it done on the spot.

I did that once when I was visiting a branch to get something else done.

Tell HSBC you'll just change banks if they are this stupid. In fact, change banks anyway as HSBC sucks. There are long threads about them on Geo.

[blackwings]

Ok. Thanks . Will try branch teller.

[wtbhotia]

I called up HSBC and got my limit reduced from 110K to 15K (no self control LOL) but as I travel also and some hotels are bloody expensive for a week, 15K was going to be too tight so called up HSBC a few months later and got the limit doubled to 30K. NO PROBLEM.