HSBC Platinum Credit Card Declined After VKYC

[karcool]

Hi,

HSBC is declining Credit Card application after Video KYC.

Prior to VKYC - HSBC is checking CIBIL, Salary Credits through Account Aggregator, Residence Address through Aadhaar Authentication and Office Location in Form. Why do they decline after checking these stuff and calling " Approved in principle" before VKYC.

I have read through various threads in forum where members mentioned that HSBC is strict on CIBIL Checks, Location etc. But aren't these already checked during application process before proceeding to VKYC?

Thanks,

 

[helloworld]

After CIBIL check, 2 phone verification calls, 1 home verfication, another CIBIL check, 1 VKYC, w/tentative limit message - also, SBICard declining applications.

There are no strict TnCs for this process of any bank.

-----------

your options:

- find and drop a mail for 'exact reason' stating rbi rule.
- negotiate and deal based on that reason.

 

[karcool]

I have escalated the issue to Principal Nodal Office and they did few calls, but still no reason was given for declining card. There were referring to internal Ombudsman but they did a big mess in between by doing another CIBIL Check without my Consent. I now have a strong reason to drag these people to legal street.

 

[RAMESH BABU N]

Most of HSBC's work is done by an outsourced entity - which does all these jobs. After these are submitted to HSBC, they give shortlisted lot to another outsourced VKYC entity. After this stage is completed, it goes - finally - to the actual HSBC decision maker.
He/she may (or may not) do a 2nd CIBIL check n decide.

The above is based on what I gathered - after speaking to both such outsourced teams n to their team leaders - as well as to the actual HSBC guy.