Like other credit cards, HSBC offer customers the ability to either automatically accept credit limit increases (which they can then refuse) or opt to be asked before their credit limit increases.
HSBC doubled my credit limit recently which was a surprise as I haven’t used it that much historically - so I had to proactively accept the increase.
The only times I’ve been offered higher limits are when I’m near 60-70%, Aqua actually charged me an over limit fee and increased my limit by around £3k in the same month
I don’t spend unless I know I’ll be able to pay it back of course, but sometimes clients pay a little late and I rather dip into credit than savings
Probably why I never get limit increases then, always stay within and have nearly always for the full limit to use, except for when a holiday comes along.
Is this not the entire point of a 0% card? Hoping customers overspend and get hit with monthly interest for a few years?
Banks wouldn’t offer them if people didn’t do this a lot
Same with balance transfers, they hope you haven’t repaid by the end of the deal and then they get the interest (plus the transfer fee).
Trick is to try and only utilise any offer if the net benefit will be to yourself (or more, if you can benefit from it and limit any fees as much as possible).
Anybody know if I open an Advance account if it will in turn let me open the corresponding account in Australia? I know you can do that with Premier, but Advance seems to imply you can use that too.
Also, assuming that they do, do they post the card to the UK, or do you have to pick it up in Australia?
Thinking of emmigating in a few years, so exploring options now i.e. I can tick the valid reason box.
They seem to offer both standard and Premier accounts to overseas customers:
Came across this news story about Premier: https://www.reuters.com/business/finance/hsbc-relaunches-premier-brand-uk-pursuit-wealthy-clients-2024-11-20/
Not much that hasn’t already been mentioned in this thread, besides I think:
[…] HSBC has ruled out charging a fee for the product, Carvalho said, confirming media reports the bank is hiring hundreds of new relationship managers for the relaunch.
I have trouble believing any consumer thought a 0% balance transfer was being offered not in the hope that they held a debt past the 0% period.
Obviously the bank is betting that you make some poor financial decisions and pay interest, right?
You’re telling me people think HSBC are acting in their best interest? 
Not sure where I said that 
Don’t really understand your point.
Sorry, you’re right you didn’t say it. I meant more in general, why would banks be offering a lending product they didn’t make a lot of money on
To be fair, this community is very much on the ball financially but the general public isn’t. Hence them likely to make a fortune on products which they’d lose money giving to us.
Oh they definitely will be, but if you’re savvy you can usually play them at their own game and make it work in your favour. You just need to know what you’re doing.
Pretty much this yeah.
Some people have the opinion that credit cards are inherently bad as they lead to debt, but it’s not true to say that that’s an inevitability. That obviously can happen and it can be very bad, but only if it’s not managed properly. Plenty of people here have said they’ve never paid a penny in interest so they’ve “beat the system” in terms of what the bank would have wanted them to do.
Similar with 0% purchase offers and even just increasing your limit. They absolutely are hoping you’ll end up paying more in interest, but if you’re able to manage it in a way where you don’t pay a penny of interest then you’ve cost them money and it’s only worked in your favour.
Of course, a miscalculation or change in circumstances can swing things back in their favour.
Yes, you can do this with a HSBC Advance account. Interestingly, HSBC used to charge a fee for Advance customers to open an account overseas but now advertise it as free.
Separately, I note that that customers who hold a “standard” bank account now also qualify for the regular saver account.
No search at all for it.
Totally worth it. One of the nicest bank cards I’ve ever owned.
Definitely my favourite card. Such a good design and the big HSBC logo in the middle is incorporated so well in it
I did notice that, but don’t really mind. Never look at it that closely to notice normally.
Maybe a little but I don’t think it detracts from the card too much.
I got mine a couple of weeks ago so doubt anything will have changed about that