Reason behind HSBC Credit Card Rejection?

[Achal]

I had applied for HSBC credit card offline. My credit score is 779. Their system recommended not to provide the card. The HSBC personnel said that reason code that was given for rejection was that I don't have a cibil score but when I checked my cibil report there was a hard enquiry from HSBC.
I did not have any enquiries in last 30 days and had 3 enquires in last 90 days.
Does HSBC have any limits on enquiries??

 

[Harry1]

Update:
I applied again after 2 months and I got the card this time. No physical verification was done.

Can you share the timeline from application to card delivery? Also, what's the process after video kyc?

 

[Harry1]

Can you share the timeline from application to card delivery? Also, what's the process after video kyc?

@bidge any inputs on this?

 

[Bigde]

@bidge any inputs on this?

Mine timeline was a bit elongated one, initially applied in May via their website, managed to reach to a point where they fetched all my banking details via the net banking login.

After entering the address details, my application was abruptly halted due to unserviceable location issue. Since there was nothing I could do much, I didn't try further. However, after a week or so, I was approached by their customer care executive, she took my details and asked me to wait for a month as my application was locked.

After a month same executive reached out to me again and reprocessed my application this time with a different address (which falls under their serviceable location) after VKYC and physical verification, card was delivered to me in the first week of July.

In a nutshell it took me 2 months just to get this card from start till end. Delays could be primarily attributed to the address issue due to which my application got locked fo a month.

 

[Pramtesh]

Mine timeline was a bit elongated one, initially applied in May via their website, managed to reach to a point where they fetched all my banking details via the net banking login.

After entering the address details, my application was abruptly halted due to unserviceable location issue. Since there was nothing I could do much, I didn't try further. However, after a week or so, I was approached by their customer care executive, she took my details and asked me to wait for a month as my application was locked.

After a month same executive reached out to me again and reprocessed my application this time with a different address (which falls under their serviceable location) after VKYC and physical verification, card was delivered to me in the first week of July.

In a nutshell it took me 2 months just to get this card from start till end. Delays could be primarily attributed to the address issue due to which my application got locked fo a month.

Did you generated PIN?

 

[Bigde]

Did you generated PIN?

Yes, PIN generation process involves sending an SMS to their designated number via the registered mobile number. I have been using the card frequently as I am eying the 2000 Rs. cashback.

 

[Pramtesh]

Yes, PIN generation process involves sending an SMS to their designated number via the registered mobile number. I have been using the card frequently as I am eying the 2000 Rs. cashback.

But i believe it's temporary pin

 

[Bigde]

But i believe it's temporary pin

Nope, it works just fine, used it to swipe on POS.

 

[Harry1]

Today they resolved the issue after sending mail to credit.card.application@hsbc.co.in

Completed video kyc. During video kyc, he asked income. I told it is actually more than what was fetched by automated system. He simply asked the number and updated it. Hope they give credit limit according to that .

Got the approval message today.

 

[Bigde]

Got the approval message today.

Congratulations enjoy the new card, and don't forget to spend 20k (if it is HSBC Platinum) in first 60 days to get 2K cashback.

 

[Harry1]

Congratulations enjoy the new card, and don't forget to spend 20k (if it is HSBC Platinum) in first 60 days to get 2K cashback.

That's the whole purpose of applying this card😅

 

[Harry1]

Got the approval message today.

Delivered today. Overall 10 days.
Limit is barely one month take home salary. Not even 2L.

 

[souvikdey2002]

Delivered today. Overall 10 days.
Limit is barely one month take home salary. Not even 2L.

After 1 year of usage send the statement of Highest Limit Credit Card to HSBC, they might increase your limit.
if possible, send Citi/Standard Chartered, they will instantly do.

 

[himesh8924]

I had applied for HSBC credit card offline. My credit score is 779. Their system recommended not to provide the card. The HSBC personnel said that reason code that was given for rejection was that I don't have a cibil score but when I checked my cibil report there was a hard enquiry from HSBC.
I did not have any enquiries in last 30 days and had 3 enquires in last 90 days.
Does HSBC have any limits on enquiries??

HSBC credit cards mostly get rejected due to their lending policy.

1 - They do not like to give cards to self employed.

2 - If you have a disproportionate exposure to CIBIL, they still reject your application.

3- You are working in an MNC.

4 - You must not have applied for multiple unsecured loans and cards in the last 90 days.

 

[Harry1]

After 1 year of usage send the statement of Highest Limit Credit Card to HSBC, they might increase your limit.
if possible, send Citi/Standard Chartered, they will instantly do.

Lol Citi gives even lesser limit. That's my least limit card😅.

 

[hashiro7]

Got the approval message today.

Could you answer my below queries...
1. Do we ask to do VKYC right after the online form is filled?
2. Do they check the location while doing VKYC?
3. Physical Verification?
4. It took 10 days to deliver your card to your address?

 

[Harry1]

Could you answer my below queries...
1. Do we ask to do VKYC right after the online form is filled?
2. Do they check the location while doing VKYC?
3. Physical Verification?
4. It took 10 days to deliver your card to your address?

I don't remember any if these now. Better check my previous posts by clicking on arrows and see dates.

 

[Bigde]

Could you answer my below queries...
1. Do we ask to do VKYC right after the online form is filled?
2. Do they check the location while doing VKYC?
3. Physical Verification?
4. It took 10 days to deliver your card to your address?

Here are my few cents.
1. Once you submit the online application form, it is usually reviewed by their backend team. If everything goes well, VKYC is scheduled within 2-3 days.
2. One needs to enable location access in browser prior to VKYC, they also ask about your current address and permanent address during VKYC and match these details with what you provided during form submission. However, your current location does not affect outcome of VKYC, at the time of my VKYC I applied for the card from X location whereas appeared in the VKYC from Location Y (Which was not a serviceable location). Still my VKYC went well and card was approved.
3. They take physical verification seriously if there is mismatch between your current address and your address on Aadhar. My residential and office addresses were physically verified by them.
4. My card was delivered in a month and half as my application was locked for a month due to address mismatch issue.

 

[rjsudeep]

I think I got rejected due to my permanent address being a city they don't service, as well as the fact that my overall credit exposure is much much greater than 1.5x of my income, despite utilization being less than 5%.

 

[Bigde]

I think I got rejected due to my permanent address being a city they don't service, as well as the fact that my overall credit exposure is much much greater than 1.5x of my income, despite utilization being less than 5%.

In my case too my permanent address is a non-serviceable location. Also, prior to applying for HSBC Platinum I already had 15 other credit cards.

 

[Yogi24]

Could you answer my below queries...
1. Do we ask to do VKYC right after the online form is filled?
2. Do they check the location while doing VKYC?
3. Physical Verification?
4. It took 10 days to deliver your card to your address?

1 .yes.. VKYC done on same day ..after online form filled by Agent.
2. Yes ..they pinged location while VKYC..My location was Delhi.
3. No physical verification .
4. Card approved on 4th day and delivered on 8th day...Delhi office
5. Limit 1.5 lac ..HSBC Platinum bcz of LTF