Credit card application nightmare question after question send in many documents than phone calls asking for more details it goes on and on and then a nice little message to say it's been declined and wont give a reason which ruins your credit score. However there's banking is fine just a shame they don't seem to be able to help with credit cards its another branch.
We had $20,000 dropped into our credit card account by mistake on a balance transfer. We then had to fight HSBC to get the money. Even though we were in credit by $16500. They said we could take the money out in $1000 per day limits and they would charge us 4% per withdrawal as they would deem it as a cash advance. They would not release the money until we closed the account in its entirety. We considered going to the police as technically it was stealing and we did report it to the Australian Financial Complaints Authority. I thought Channel 7 would love a story like this. They held onto the money for over a week - why I don't know. But we missed several other payments because of this, phone etc. and have now been charged late fees because of it. We found the customer service people to lie and say anything that was convenient on the phone.
I had excess funds paid into my credit card by accident. They refused to let me withdraw them. They said maximum credit card withdrawal is $1000 per day and they will charge 4% fee for the cash advance. Even though my account was $16000 in credit.
I have had my low rate credit card for 5 years. I have never had a problem and when I have had a question it has always been answered. It does have a high rate on cash advances but that is not important to me because it is only half that rate on purchases providing you show a bit of self control and not borrow more than you can afford. Basically have a bit of common sense and it will be a nifty thing to have. This is the only bank that would give me a go because my employment is casual. There weren't too many banks that wanted to give me a credit card so in my opinion this bank has been great.
I have been with HSBC for over a year. I find them to be transparent with no hidden costs. They genuinely want to help the customer through any situation. They have been great and helpful through this COVID difficult period. Would highly recommend.
HSBC provides no useful customer support if you are in the many locations across the country without branches. Your only avenue is through call centres which have very limited information and resources provided by HSBC to assist you. But depending on which call centre you receive, you may receive various degrees of misinformation, totally incorrect information, outright lies, or even have your call terminated. There appears to be a lack of training and no contract management audits to check these call centres are doing what they are engaged to do. There is no feedback avenue for good and bad encounters. The call centre totally mismanaged my enquiry causing many hardships and inconveniences for me, not to mention considerable financial costs. There is nowhere else to go after the call centre. Nowhere. I receive excellent service from my HSBC Premier team in Malaysia. Not so with HSBC in Australia.
I opened an "interest free credit card" with these bullies on 02/02/2017. I made the first payment on time and yet there were unsubstantiated charges on the next statement. This literally continued for the next 3 years. The item I purchased "interest free" was paid off more than 18 months ago and they have continued to levy fees and charges. Despite an ongoing review of the matter, they have lodged a number of late payment records on this account and singlehandedly destroyed my credit rating. I operate a number of other utilities and cards and all a near perfect. Do not go near these people as they will damage your ability to do business and not give a damn.
HSBC are unhelpful to the max. They do not respond to calls and fail to reply by email / internet. HSBC will be quick to pick fault with customers but fail to support customers when they are genuinely trying to do the right thing.
The most important thing, in my humble opinion, is the ability to rely on your card when in a tough situation. When overseas in March, our Prime Minister told all Australians travelling overseas to return home. Our card could not be authenticated to book our return flight.
I have been using this organisation for less than 1 year. Their online banking system is archaic. If you update the app you will go backwards. Dumb bank. I will be closing my account ASAP.
The sign up process is long and difficult. 45 mins + online and two phone calls. The amount of personal information needed is worrying and over the top. They also take photos of you (face-scanning) for the application. I asked them to delete the information once I cancelled my account and they refused. Be careful if you value your privacy. The sign up process to view your account online is also long and tedious. All phone consultants are overseas.
This card for its relatively low annual fee has quite a lot going for it. The earn rate for points isn't as good as other cards but it comes with lounge passes and all the regular insurances you would expect from a platinum card. HSBC also quite regularly have balance transfer and cash withdrawal promotions if you need it at competitive rates.
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