The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The rating was last updated on 04/01/2023.
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1) Opening the card was such a bad experience that I drafted a formal complaint letter about HSBC's approval review process, which required me to contact them by phone during very limited hours, all of which coincided with my work schedule. I finally spent part of my work day to resolve the issue.
2) HSBC bungled the process of issuing a card to the authorized user so badly that I had to spend hours on the phone across several days while on vacation to resolve. Multiple representatives gave me wrong information and/or made promises that were not fulfilled, resulting in the authorized party receiving their card late and having to cancel a planned move because they did not have the credit card with which to reserve the rental truck.
3) This is by far the least consequential example, but it just happened today and so happens to be the final straw that pushed me to write this review. HSBC leaves me a voicemail about possible fraud on my account. The voicemail includes detailed instructions on where to call, what prompts to select, and a reference code to provide. I follow the instructions exactly and am told I reached the customer service department, not the fraud department. The representative cold transfers me to someone else. After another 5 minutes, that representative says I am yet again in the wrong department and must transfer me. The third representative tells me the call was about a $3 charge that occurred 5 months ago. Huh? I am all for proactive fraud prevention, but they leave me 3 voicemails at 3 different phone numbers because of a $3 charge from 5 months ago? Unreal.
I will never open another account of any kind with this joke of a bank and will strongly urge anyone I know or who asks not to do business with this bank.
First, they never sent a statement. Not in email or paper. I didn't learn about it until I received a Late Payment email after it was 30 days past due. I logged into the account, saw the charges, and started one of the most irritating and unhelpful experiences I've had dealing with a bank.
The first agent couldn't help me, so they punted me to their fraud team. The agent there was aggressively unhelpful. Incapable of understanding what I was saying, not following the chain of events, and constantly wanting me to contact Amazon instead of them. Which is ridiculous, what with these purchases not existing in my Amazon account. I finally got irritated enough to get a manager. They weren't much better, but they at least accepted that they were on the hook to act on it and stopped trying to foist me off on Amazon. They said they would cancel the card, issue a new card, and start a 45 day fraud investigation. Which is just insane. Anytime this has happened the bank just took care of it right then and there. They didn't waste everyone's time over 200 lousy dollars.
I got the new card in the mail a few days later. Along with a letter from the fraud department. It included a form where they wanted me, in handwriting, to lay out all the information that I had already given them over the phone. And they not only wanted me to mail it back, they didn't even include a paid envelope. Which, again, ridiculous. This is over 200 bucks, not 20,000. AND they didn't even get it right. The manager only flagged one of the two purchases, not both. They rolled the other fraudulent charge onto my new card.
I called the number on the form, and got to listen to over a minute of "Special Offers" that I could accept before I got to a machine that literally told me to go away. Literally, it just gave me another number to call. At this point I called Customer Service again, which was probably a bad idea seeing as how bad they are at customer service. Once again I got an agent that had no clue what I was saying, what I was trying to do, or how to do anything remotely helpful. At this point I was done. I told them I would happily pay the 200 dollars just so I could cancel the account and never have to deal with them ever again. The only thing I wanted at this point was a guarantee that they would not report the 30 days late to the credit agencies, since they never sent me a notice or a statement until after it was late. This was like pulling teeth. They couldn't even grasp there was two charges and kept repeating back only the one. Once again I demanded a manager, and was told that they don't exist until 8:00AM EST...and it was 7:50 at the time. I was assured I would receive a call back immediately, right at 8:00.
At 8:45, having received no such call, I called back again. The agent told me that all the managers were busy...which not surprising, since they are all terrible at their jobs. But at least they understood what I was trying to say. I reiterated that all I wanted to do at this point was pay the money, close the account, and never do business with them again. They were able to accommodate the payment, and they SAID they canceled the account even though I'm expecting it to remain open because they're incompetent. I mean, no attempt to repair the situation or retain me as a customer. So no bonus points, just an annoying end to an annoying situation.
Literally any other bank in the world would have just waved off the 200 dollars to keep the customer happy. But not HSBC. I have no idea how they're still in business. I'd do zero stars if I could. I'm expecting that this will in fact hit my credit, making me have to jump through even more hoops. In that case I look forward to copy/pasting this review into a complaint with the Consumer Financial Protection Bureau.
Unbelievable experience with this fraud company. Their online, phone, and banking app all ceased to function as far as taking payments, around July 2021. As a result, I incurred a "late payment fee" on an $7 balance, which out of principle I contested unsuccessfully. Hours waiting in ph0ne trees that went nowhere for months, resulting in multiple late fees and finance charges. I appealed to the CFPB, FTC, State and Federal DOJ's, and then finally my local Congressional Rep., Cliff Bentz. My credit is taking a hit, and since I'm in the process of re-financing home, I can't afford to fight the principle any longer, and I just now spent 45 minutes with some clown in their collection department paying off their fraudulent bilking of over $120- all late fees/charges because there was NO WAY TO MAKE A PAYMENT to them. Quite a racket, bill customers late fees, for late fees they incur because it's impossible to make said payment. What a joke.
First it requires HSBC Premier account for the credit card to waive the yearly fee. Once the Premier account unqualified, you will need to close the credit card. The closing process is a nightmare for me as the agent can not close it anytime you want.
Second, the balance transfer offers are terrible catches which has monthly APR as high as 3%, though it would advertise as zero finance charge.
Third, the latency is way too high for transaction to be posted. I suspect the inefficiency is deliberate so that they can charge more interest.
HSBC Q&A(53 questions)
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How do I check my HSBC credit card application status?
You can check your HSBC credit card application status either online through live chat or over the phone at (844) 867-5750. Alternatively, you can check the status in person, by visiting your nearest HSBC branch. Make sure to also check the email HSBC sent you after submitting your credit card application for further instructions.
How to Check Your HSBC Application Status
- Via live chat: Go to the HBC website and click on the “live chat” icon from the bottom right corner. Then, write down your request to check the status of your application. You will then be connected to a live chat agent that can check the status for you.
- By phone: Call the application department at (844) 867-5750 to speak with a representative.
- At a branch: Go to the nearest HSBC branch to check your HSBC credit card application status in person. There aren't many in the US, but you may be near one.
- Via email: After you've completed the application you will receive an “Application Status” notice by email. You may need to send additional documentation, if needed.
Keep in mind that when HSBC makes a decision about your credit card application, you will receive an email from them.
What is the HSBC Gold Credit Card credit limit?
The HSBC Gold Credit Card credit limit is between $500 and $25,000. Approved applicants get at least $500, but the higher an applicant's credit score and income are, the higher the starting credit limit is likely to be.
The HSBC Gold Credit Card credit limit that you start with isn't necessarily your credit line forever. You can ask to get a credit limit increase either online, or by calling the HSBC customer service number on the back of your card. But it's best not to do that more than once a year as requests for credit limit increases trigger hard inquiries on your credit report.
What's the HSBC Gold Mastercard customer service phone number?
The HSBC Gold Mastercard customer service phone number is 888-385-8916.
How does the HSBC Premier World Mastercard travel insurance work?
The HSBC Premier World Mastercard travel insurance works by offering a coverage of up to $1,000,000 while on a common carrier covered trip. To benefit from it, the entire cost of the fare has to be charged to your Premier World Mastercard.
The insurance covers:
- Accidental loss of life
- Loss of speech, hearing or sight
- Loss of limbs
- Passengers acting or training as a pilot or crew member
- Passengers with any pre-existing conditions that lead to covered incidents
- Passengers committing felony or illegal activity
- Intoxicated passengers
- Attempted suicide
To file a claim, call 1-855-378-9448 within 20 days of occurrence or as soon as reasonably possible.
How do I apply for the HSBC Platinum Mastercard?
You can no longer apply for the HSBC Platinum Mastercard. It's not available to new applicants.