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?

 

[credible65]

Do they open all digital, no need to visit the branch or executive visiting home?

Premier savings account I opened online with vkyc.
For credit card application, RM asked all the details and he shared pre-filled digital form over the email, I digitally signed it.

 

[yoloof]

Opened premier savings account based on MAB criteria and applied for Premier CC with the help of RM. RM told that it is declined due to multiple credit cards. Haven't received any application status communication over email. Escalated to PNO.

How many cards do you have?

 

[credible65]

How many cards do you have?

18 cards. .

 

[yoloof]

18 cards. .

I am at 17. Looks like I have to close some cards before applying.

 

[kvndsz512]

18 cards. .

after so many cards still they giving cc ?

bcuz 1 hsbc person told me that as i already hold lot of cards its hard to get .. mostly will be rejected

 

[credible65]

after so many cards still they giving cc ?

bcuz 1 hsbc person told me that as i already hold lot of cards its hard to get .. mostly will be rejected

Yes, mine also not approved. Escalated to PNO. Waiting.

 

[magnusfan]

I just opened the Premier account yesterday. Am told the credit card should follow in 7-8 days!

 

[kvndsz512]

I just opened the Premier account yesterday. Am told the credit card should follow in 7-8 days!

do u have multiple cc and high limits?

 

[magnusfan]

do u have multiple cc and high limits?

Ya, but the account opening was basis salary. Not sure whats next - hope will get the cc in 7-8 days as promised

 

[magnusfan]

Update: The premier credit card started reflecting in my account today morning.. card should be delivered in 2-3 days as per RM

 

[luckymurari]

When does HSBC downgrade their premier account? Let us say I open a premier salary account but after 3 months - salary is no longer credited there

 

[Ra.One]

Only stocks are considered

anything in demat form would be considered. Demat holdings should be 40L bass. I have decided to transfer 40L worth mutual funds in demat form, from Zero's CDSL to HSBC's NSDL.

 

[dk619]

anything in demat form would be considered. Demat holdings should be 40L bass. I have decided to transfer 40L worth mutual funds in demat form, from Zero's CDSL to HSBC's NSDL.

Can we transfer direct mutual funds to HSBC demat to fulfill the criteria?

 

[uno3987]

Has anyone managed to get the premier credit card on the basis of premier banking status in other countries like UK, US or Singapore. I am currently in the UK and managed to get a premier account opened in HSBC India via the Global premier status. However, when inquiring for the CC, I was told I need to maintain true premier status in HSBC India "40L TRV" to apply for the CC which does not sound quite right.
Any help or insights would be appreciated.

 

[aayusharyan]

Has anyone managed to get the premier credit card on the basis of premier banking status in other countries like UK, US or Singapore. I am currently in the UK and managed to get a premier account opened in HSBC India via the Global premier status. However, when inquiring for the CC, I was told I need to maintain true premier status in HSBC India "40L TRV" to apply for the CC which does not sound quite right.
Any help or insights would be appreciated.

Yes, it is true. Premier banking in India is divided into 2 soft categories. To be eligible for global premier, you need to have the TRV criteria. Not the loan criteria and all...

 

[uno3987]

Yes, it is true. Premier banking in India is divided into 2 soft categories. To be eligible for global premier, you need to have the TRV criteria. Not the loan criteria and all...

thanks for the quick revert.
But is the TRV needed for applying for the card or to waive of the renewal fees ?

Also I am assuming the TRV balance also takes into account the demat stocks, FDs rather than just cash in the savings account ?

 

[aayusharyan]

thanks for the quick revert.
But is the TRV needed for applying for the card or to waive of the renewal fees ?

Also I am assuming the TRV balance also takes into account the demat stocks, FDs rather than just cash in the savings account ?

TRV takes into account all these things incl DEMAT on a quarterly basis, I don't remember exactly, but I think the way it works is that at the end of each quarter, they will calculate TRV and if any Q it dips below the threshold (say, market crash), then that next renewal cycle, you will have to pay the fees, I think it's 20K+GST something.

 

[sidmanraj]

W

anything in demat form would be considered. Demat holdings should be 40L bass. I have decided to transfer 40L worth mutual funds in demat form, from Zero's CDSL to HSBC's NSDL.

What are the joining and annual fees of hsbc demat account

 

[Kabir_1112]

They do not provide trading facility. Only the stocks can be transferred and cannot be traded.

W

What are the joining and annual fees of hsbc demat account

 

[theXfactor]

They do not provide trading facility. Only the stocks can be transferred and cannot be traded.

It’s difficult to move to their demat, for selling you need to again transfer back to your original account. Indirect cost of premier