HSBC Platinum Qantas Credit Card Changes: Ouchy

[Franko Costa]

with HSBC premier, If I was to deposit salary into it 9k+ per month, can I still withdraw that cash and still be eligible for HSBC premier?

Really want the credit card.......

P.S. how is the rewards plus program vs Qantas rewards? I think I'm gaining enough from churning for Qantas points, so would the plus program be a better choice (give this card will just be a backup)

Yes that's what I have set up every month

 

[oz_mark]

with HSBC premier, If I was to deposit salary into it 9k+ per month, can I still withdraw that cash and still be eligible for HSBC premier?

Really want the credit card.......

P.S. how is the rewards plus program vs Qantas rewards? I think I'm gaining enough from churning for Qantas points, so would the plus program be a better choice (give this card will just be a backup)

I'm pretty sure they would have set it up so you can use your salary!

 

[Steve994]

I got the email and didn't see the increased annual fee until I saw it here.

I run most of my transactions through my QF AMEX, I only use this one for merchants that don't take AMEX.

Now I see I've been paying $199 annual fee even though the retail price was dropped to $99 5 years ago.

So definitely feel cheated by HSBC, will be ditching this account before the next annual fee is due.

I got the email and didn't see the increased annual fee until I saw it here.

I run most of my transactions through my QF AMEX, I only use this one for merchants that don't take AMEX.

Now I see I've been paying $199 annual fee even though the retail price was dropped to $99 5 years ago.

So definitely feel cheated by HSBC, will be ditching this account before the next annual fee is due.

I noticed a few years ago that HSBC were offering Platinum Qantas cards with a $99 fee when I was paying $199. When I phoned them and asked if I could get the lower fee, they initially tried to fob me off by saying the terms and conditions would be different. When I asked what was different they went through them then admitted there was no difference, and moved me to the new deal. I've just ditched them after about 8 years rather than pay the latest increase but I have noticed they are offering a cheaper deal to new customers according to Qantas website, but the earn rate and cap are lower.

 

[KingHuang]

I'm pretty sure they would have set it up so you can use your salary!

What if i use cba, deposit salary into hsbc then transfer to cba. Would thst still qualify hsbc premier ?

Also, if ifs joint account how would the credmjt limkt opportion to me or my wife?

 

[oz_mark]

What if i use cba, deposit salary into hsbc then transfer to cba. Would thst still qualify hsbc premier ?

Also, if ifs joint account how would the credmjt limkt opportion to me or my wife?

If the salary is paid into HSBC and meets the $9,000 per month requirement it should count.

As for all the what-if scenarios you have, perhaps discuss that with HSBC.

 

[anchew]

Hi all,

Seeking some advice from our churn experts. I recently tried to apply for the HSBC Premier credit card (I'm a Premier customer) but got declined. I have the feeling it's because of the number of credit cards I currently have. On my application, I included the credit cards that I'm intending on closing if the application is successful. Is this what everyone else does? Or do you close the current credit cards first, then apply? Or just include the credit cards that you're intending on keeping.

Grateful for any advice from the experts here. I'm going to try again in a couple of months.

 

[SOPOOR]

Hi all,

Seeking some advice from our churn experts. I recently tried to apply for the HSBC Premier credit card (I'm a Premier customer) but got declined. I have the feeling it's because of the number of credit cards I currently have. On my application, I included the credit cards that I'm intending on closing if the application is successful. Is this what everyone else does? Or do you close the current credit cards first, then apply? Or just include the credit cards that you're intending on keeping.

Grateful for any advice from the experts here. I'm going to try again in a couple of months.

Im 99.9% sure , "im intending to close "means nothing for card applications

 

[anchew]

Im 99.9% sure , "im intending to close "means nothing for card applications

Thanks for such a quick response Sopoor!

That's what I thought too when filling the application. I'm interested in what you usually do when appying for credit cards? Do you cancel your existing credit cards first before applying for a new one? I'm a bit hesitant because if the application isn't sucessful even after cancelling my existing credit card, I'll be left without a VISA/Mastercard to use (I have a Amex which I intend on keeping).

I'm interested in the experience of the churn experts here

 

[exceladdict]

Thanks for such a quick response Sopoor!

That's what I thought too when filling the application. I'm interested in what you usually do when appying for credit cards? Do you cancel your existing credit cards first before applying for a new one? I'm a bit hesitant because if the application isn't sucessful even after cancelling my existing credit card, I'll be left without a VISA/Mastercard to use (I have a Amex which I intend on keeping).

I'm interested in the experience of the churn experts here

Given it probably did a credit check during the application could you call them to ask to re assess with this information?

 

[SOPOOR]

Thanks for such a quick response Sopoor!

That's what I thought too when filling the application. I'm interested in what you usually do when appying for credit cards? Do you cancel your existing credit cards first before applying for a new one? I'm a bit hesitant because if the application isn't sucessful even after cancelling my existing credit card, I'll be left without a VISA/Mastercard to use (I have a Amex which I intend on keeping).

I'm interested in the experience of the churn experts here

Unfortunately, you have to cancel.cards to make your application more attractive.
The only thing is it takes weeks/months for the closed account to show up on your credit record

Some of the more experts here mighr be able to shed light on the best point to reapply after a closure.
I usually wait until its gone ie 1 month +

 

[KingHuang]

Unfortunately, you have to cancel.cards to make your application more attractive.
The only thing is it takes weeks/months for the closed account to show up on your credit record

Some of the more experts here mighr be able to shed light on the best point to reapply after a closure.
I usually wait until its gone ie 1 month +

I was reading in some of the other posts from here that "When you close your CC, MAKE sure to get a copy of the account closure sent to you via email or letter" - because that way you have proof that your account is closed despite the credit file despite being not updated. Of which as a FYI CC takes about 6 weeks from experience or more, whereas my personal loan took 3 months to show up as closed

 

[SOPOOR]

I must admit i got a huge boost in qff points this month because of higher spend and 1.5 points cap is much higher

Also i dont know if this has something to do with hsbc but i thought vicroads vehicle duty costs didnt earn points but thid time it seemd to have credited

 

[http_x92]

Did realise that for the first year the fee is waived and you earn 1.5 QFF points /$ up to $120000 during that time.

No bonus points however if you want a quick churn.

 

[SOPOOR]

I must admit i got a huge boost in qff points this month because of higher spend and 1.5 points cap is much higher

Also i dont know if this has something to do with hsbc but i thought vicroads vehicle duty costs didnt earn points but thid time it seemd to have credited

oh that was not a good way to start the day

"
We recently discovered your Qantas Points may have been calculated incorrectly in your previous statement cycle due to a
system error. An adjustment has been made in this statement cycle and you have now been allocated the correct total
amount of Qantas Points for both statement cycles. We apologise for any inconvenience caused"

they clawed back about 5000pts for me. so it looks like im on the old rate until my next Annual fee

 

[PrezRegan]

I was reading in some of the other posts from here that "When you close your CC, MAKE sure to get a copy of the account closure sent to you via email or letter" - because that way you have proof that your account is closed despite the credit file despite being not updated. Of which as a FYI CC takes about 6 weeks from experience or more, whereas my personal loan took 3 months to show up as closed

^ this is gold
@anchew , in answer to your question,
I always have no more than 2 active cards and I close my old one before applying for the new one and list only the card I have active in my application.
As I experienced today with Bankwest, the system can be slow - they were asking me about a card I closed in May and one I closed last week when I applied, but once I sent them the account closure emails they were happy.

 

[Mr He]

with HSBC premier, If I was to deposit salary into it 9k+ per month, can I still withdraw that cash and still be eligible for HSBC premier?

Really want the credit card.......

① Yes. ②But being a Premier customer doesn't guarantee the approval of the credit card - you still have to go through the normal application process and meet their credit criteria.

 

[yojohnny]

Unfortunately, you have to cancel.cards to make your application more attractive.
The only thing is it takes weeks/months for the closed account to show up on your credit record

Some of the more experts here mighr be able to shed light on the best point to reapply after a closure.
I usually wait until its gone ie 1 month +

I now apply for multiple cards at the exact same time (within 1 - 2 hrs or as quick as possible). I applied for 5 x cards + 1 personal loan earlier this year and was approved for all.

I'll be doing the same again for as many as possible that I am "due" to "refresh". The credit checks don't appear to hit the credit file instantly and appear to take hours or a day or so, so this worked for me twice so far.

 

[ecst]

I now apply for multiple cards at the exact same time (within 1 - 2 hrs or as quick as possible). I applied for 5 x cards + 1 personal loan earlier this year and was approved for all.

I'll be doing the same again for as many as possible that I am "due" to "refresh". The credit checks don't appear to hit the credit file instantly and appear to take hours or a day or so, so this worked for me twice so far.

How did your credit report look like 1-2 months after it hit? I considered this in the past but never had the chutzpah to go ahead with it

thanks for sharing

 

[yojohnny]

How did your credit report look like 1-2 months after it hit? I considered this in the past but never had the chutzpah to go ahead with it

thanks for sharing

It dropped a little but nothing significant and it was back up to the same level a few months later. And of course, I closed them off as quick as possible once the points/cashback etc. were paid out.

 

[Franko Costa]

It dropped a little but nothing significant and it was back up to the same level a few months later. And of course, I closed them off as quick as possible once the points/cashback etc. were paid out.

Great idea. I never thought about this at all. Great to get it all done assuming hitting min spend is no issue