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HSBC Red Credit Card: the HSBC card you can actually understand

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  1. #71

    Join Date
    Oct 2006
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    Hong Kong
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    15,557

    Just FYI with HSBC Red, the limit on the card (well for me anyway) was very low (HKD20k). Have asked for an increase, but this has gone to review by a supervisor.


  2. #72

    Join Date
    Feb 2009
    Posts
    8,280

    SCB kept raising my credit card limit every year without me asking, to insane levels (over $1m) and I never used any of it (repay my card every month) and thought it was a complete waste of time. Then I discovered these "credit to cash loans" and SCB lent me this credit limit with no questions asked and very low interest rates (APR 1.8%). So I finally found a use for it. Now I left HK and still paying back this loan over the next few years

    Paxbritannia likes this.

  3. #73

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    Oct 2006
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    Hong Kong
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    Original Post Deleted
    My other HSBC cards have a much higher limit, so who knows.

  4. #74

    Join Date
    Sep 2006
    Location
    Sha TIn
    Posts
    321

    Just applied now.

    Does anyone know how long the approval takes?


  5. #75

    Join Date
    Jun 2013
    Posts
    162
    Quote Originally Posted by pin:
    Just FYI with HSBC Red, the limit on the card (well for me anyway) was very low (HKD20k). Have asked for an increase, but this has gone to review by a supervisor.
    You may have inadvertently agreed to allow them to ‘share’ the credit limit with an existing credit card for a quicker approval- which would reduce the limit by that much on the other card. I received a call from HSBC with this exact proposal and amount a few days after I applied. I declined so now need/waiting for a more ‘thorough’ review.

  6. #76

    Join Date
    Sep 2018
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    香港特别行政区
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    2,841
    Quote Originally Posted by Aritaurus:
    Just applied now.

    Does anyone know how long the approval takes?
    Depends whether you did it online or in the branch but usually a couple of working days. It may take longer at the moment since the staff are currently hiking instead of working.
    shri likes this.

  7. #77

    I don't recall asking for a credit limit when I applied for the Red card. When I checked, it appears that they gave me HK$246K (which is less than my other HSBC cards).

    Any ideas how they calculate the credit limit? I know it's got nothing to do with employment income since I don't have any (apart from small irregular consulting fees).


  8. #78

    Join Date
    Dec 2002
    Location
    薄扶林
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    47,964

    @traineeinvestor - seems to be assigned to account status. Retail+ and Retail++ clients seem to have limits in the range that you mention.

    I think it should be 264 not 246. Would verify my theory.


  9. #79

    Join Date
    Oct 2006
    Location
    Hong Kong
    Posts
    15,557
    Quote Originally Posted by shri:
    @traineeinvestor - seems to be assigned to account status. Retail+ and Retail++ clients seem to have limits in the range that you mention.

    I think it should be 264 not 246. Would verify my theory.
    I'm premier with HSBC and have much higher limits on my other cards with them, but this time limit was quite small (note I don't have payroll with HSBC though, so that might be a contributing factor).

  10. #80
    Quote Originally Posted by shri:
    @traineeinvestor - seems to be assigned to account status. Retail+ and Retail++ clients seem to have limits in the range that you mention.

    I think it should be 264 not 246. Would verify my theory.
    Definitely HK$246K - you had me thinking I might be dyslexic there for a moment so I went and checked again.
    shri likes this.

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