HSBC Premier CC Criteria

[yoloof]

Does everyone who holds an HSBC premier bank account qualify for the premier CC? Or there's a hidden salary/income criteria?

I can get HSBC premier bank account via the demat criteria but don't meet the salary requirement for the bank account. Will that also disqualify me for the CC as well?

 

[asha_kanta_sharma]

Not necessarily. While HSBC Premier account holders are eligible for the Premier Credit Card, banks typically have additional eligibility criteria, including:

• Income criteria: HSBC usually requires a minimum monthly or annual income to qualify for their premium credit cards.
• Credit history: A good credit score is essential.
• Bank relationship: Having a Premier account helps, but income and creditworthiness play a big role.

 

[kunal05]

What's the salary criteria for Premier?

 

[nomail_forme]

Unlike EPM or Infinia, Premier has a no-nonsense criteria: Maintain Premier Account Status i.e. 40L worth of real relationship value with the bank (Not just cash, Demat or FD counts too).

The salary criteria for Opening the Premier account is 3L net deposit after all deductions (including PF). But RM mentioned that it is just for opening and the relationship value criteria needs to be built within the 1 year of opening to maintain Premier status.

My Gripes: 40L is a considerable amount to maintain for a credit card. The returns that can be generated from properly investing that amount is several times more than the max benefit from the Premier Credit Card for me. Make sure it makes financial sense for you

 

[telescope]

Not necessarily. While HSBC Premier account holders are eligible for the Premier Credit Card, banks typically have additional eligibility criteria, including:

• Income criteria: HSBC usually requires a minimum monthly or annual income to qualify for their premium credit cards.
• Credit history: A good credit score is essential.
• Bank relationship: Having a Premier account helps, but income and creditworthiness play a big role.

Thanks a i

 

[telescope]

What's the salary criteria for Premier?

3 lakh net

 

[quino]

But RM mentioned that it is just for opening and the relationship value criteria needs to be built within the 1 year of opening to maintain Premier status.

that's incorrect. they just want more out of u. having salary credit only is enough to maintain Premier status.

 

[quino]

Not necessarily. While HSBC Premier account holders are eligible for the Premier Credit Card, banks typically have additional eligibility criteria, including:

• Income criteria: HSBC usually requires a minimum monthly or annual income to qualify for their premium credit cards.
• Credit history: A good credit score is essential.
• Bank relationship: Having a Premier account helps, but income and creditworthiness play a big role.

no AI nonsense here man.

 

[yoloof]

Unlike EPM or Infinia, Premier has a no-nonsense criteria: Maintain Premier Account Status i.e. 40L worth of real relationship value with the bank (Not just cash, Demat or FD counts too).

The salary criteria for Opening the Premier account is 3L net deposit after all deductions (including PF). But RM mentioned that it is just for opening and the relationship value criteria needs to be built within the 1 year of opening to maintain Premier status.

My Gripes: 40L is a considerable amount to maintain for a credit card. The returns that can be generated from properly investing that amount is several times more than the max benefit from the Premier Credit Card for me. Make sure it makes financial sense for you

I am planning to move my demat from icici to hsbc so can maintain status that way.

 

[shashank08]

that's incorrect. they just want more out of u. having salary credit only is enough to maintain Premier status.

Yes.. i have hsbc premier using salary route and 3L net salary credit is required and no need to maintain TRV/AMB.

In fact salary based premier has 5% cashback offer as well which is not available as a part of non-salary based premier.

 

[sanarora]

that's incorrect. they just want more out of u. having salary credit only is enough to maintain Premier status.

that is true 3L Salary credit ever month is more than enough, dont need to maintain 40L for true premier.

 

[goatmeetsgod]

salary based premier has 5% cashback offer as well which is not available as a part of non-salary based premier

can you explain what exactly do you mean 5% cashback here ?

 

[shashank08]

can you explain what exactly do you mean 5% cashback here ?

Check this link

Employee Banking Solutions | Employee Banking - HSBC IN

We offer tailored financial guidance to employees of our corporate partners wherever they are in the world. Find out about our employee banking solutions today.

www.hsbc.co.in

 

[aayusharyan]

Does everyone who holds an HSBC premier bank account qualify for the premier CC? Or there's a hidden salary/income criteria?

I can get HSBC premier bank account via the demat criteria but don't meet the salary requirement for the bank account. Will that also disqualify me for the CC as well?

Just FYI, HSBC doesn't have Online DEMAT account. You will have to go to Branch to buy and sell shares.

Source - Reddit -
Check point 2.2

If you find some other info, please share here. I will also open DEMAT with them and get Premier.

 

[yoloof]

Just FYI, HSBC doesn't have Online DEMAT account. You will have to go to Branch to buy and sell shares.

Source - Reddit -
Check point 2.2

If you find some other info, please share here. I will also open DEMAT with them and get Premier.

WTF? I did not expect this. I'll get in touch with a local branch next week and see what they have to say.

 

[aayusharyan]

WTF? I did not expect this. I'll get in touch with a local branch next week and see what they have to say.

Please do share what the branch says.

 

[hender]

Just FYI, HSBC doesn't have Online DEMAT account. You will have to go to Branch to buy and sell shares.

Source - Reddit -
Check point 2.2

If you find some other info, please share here. I will also open DEMAT with them and get Premier.

Helpful in Rainy days...

 

[miles_guy]

Can you get it C2C basis

 

[aayusharyan]

Can you get it C2C basis

No + 3

 

[Kabir_1112]

WTF? I did not expect this. I'll get in touch with a local branch next week and see what they have to say.

You can keep your shares with them for maintaining TRV but cannot buy and sell rom hsbc account. You'll need another demat account for buying and selling once you decide to do so.