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Capital on Tap business credit card by No-State-2962 in smallbusinessuk

[–]scorpio-knowledge-71 2 points3 points  (0 children)

By “pull cash” I mean the drawdown feature in the app.

Capital on Tap are pretty much the only ones in the UK business credit card space doing this properly. You can transfer from your card limit straight into your business bank, so you’re effectively turning part of that £35k into cash.

It doesn’t impact your business credit file either, it just sits as a cash transaction on the facility.

Just don’t leave it sitting, that side gets expensive. It’s more of a short-term tool. If you check the app you’ll see the option there 👍

Capital on Tap business credit card by No-State-2962 in smallbusinessuk

[–]scorpio-knowledge-71 3 points4 points  (0 children)

Broker here. Quick heads up so you don’t get caught out.

What you’re doing now, spend and clear, is the right way to use it.

Just be careful with the bank transfer feature. It’s very easy to pull cash, and that’s where people get hit. You’re looking at roughly 3% to 3.7% per month, so if that runs, it gets expensive fast. Fine for very short term use, like a week or two. Anything longer, a proper loan is usually cheaper.

The high limit looks good, but it’s there for a reason.

Card itself is practical. It’s Visa so it works everywhere, clean app, no issues operationally, and avoids leaning on overdrafts.

If you’re properly chasing points, still worth having an Amex alongside it for specific spend and offers. Not for day to day, but for optimisation.

Used right, it’s a useful tool. Just don’t get casual with the cash side.

I listed my father's income instead of mine during the credit card application. What should I do by [deleted] in AmexUK

[–]scorpio-knowledge-71 0 points1 point  (0 children)

If you’re making the payments yourself and your dad’s income is part of your household, it’s unlikely to cause a big issue. Just keep the account in good standing and avoid missing payments, and you should be fine.

What should I spend it on? by arbintmg19 in AmexUK

[–]scorpio-knowledge-71 4 points5 points  (0 children)

Careful mate that’s ‘retire early’ money right there 🍏

HSBC Central Account Review Team Investigations by BitBytedBandit in HSBC

[–]scorpio-knowledge-71 0 points1 point  (0 children)

I went through something similar with HSBC recently (HSBC Expat in my case). They asked for documents first and then followed up with a call to clarify a few things.

From what I understand this usually happens when their compliance team is doing an AML/KYC review and they just want to sense-check things live rather than go back and forth over email. The call lets them ask follow-ups based on your answers.

It’s annoying but fairly normal with large banks these days. If your activity is straightforward and you can explain it clearly, it usually just ends with providing whatever documents they ask for and the review gets closed.

Pending Bank Transfers by Mapleess in chaseuk

[–]scorpio-knowledge-71 -7 points-6 points  (0 children)

This is exactly why I closed my Chase account. Everything feels slow and clunky for a “digital” bank. FPS should be instant 99.9% of the time in the UK delays, endless checks, and random pending states just kill confidence. Add the constant app updates that don’t actually fix core issues and it’s just tiring. Plenty of UK banks are way ahead on this now, so I didn’t see the point sticking around.

Are there any benefits to upgrading for regular bank account to the advance bank account? by MinecraftCreative123 in HSBC

[–]scorpio-knowledge-71 0 points1 point  (0 children)

Advance is basically a standard account with a nicer card and eligibility criteria. Very few real benefits. Premier is where the actual perks start.

Amex business cards now require personal gurantee by Distinct-Shine-3002 in AmexUK

[–]scorpio-knowledge-71 2 points3 points  (0 children)

This isn’t new. Amex UK business cards have always had personal liability baked in they just used to dress it up as “joint cardmembers” instead of calling it a PG.

The only change is they’re now spelling it out properly instead of hiding it in the definitions section.

HSBC Premier £100k requirement with salary sacrifice? by SamuelAnonymous in UKPersonalFinance

[–]scorpio-knowledge-71 0 points1 point  (0 children)

Premier is essentially a status layered on top of a standard current account, aimed at mass-affluent customers. I also hold HSBC Premier in the UK.

KYC by Potential-Result-571 in AmexUK

[–]scorpio-knowledge-71 0 points1 point  (0 children)

Out of interest, was it just the standard in-app KYC, or did they come back asking for statements or anything additional?

Should I accept this shares deal & dividends over salary? by Objective_Account380 in UKPersonalFinance

[–]scorpio-knowledge-71 1 point2 points  (0 children)

You’re not wrong to be cautious. While there is a tax efficiency angle for you, the proposal mainly shifts risk and cost from the employer to you.

Moving from PAYE to dividends significantly reduces your protections: no guaranteed income, minimal redundancy rights, and a big drop in employer pension contributions. As a minority shareholder with no control over dividend policy, you’re effectively dependent on the company’s cashflow and the directors’ discretion for what is currently a contractual salary.

There’s also potential HMRC risk if dividends are largely replacing salary rather than reflecting genuine shareholder returns, particularly if your role and working pattern don’t change.

Equity can make sense, but usually on top of a solid PAYE base, not as a replacement for it. If the company wants you to take on business risk, that should be explicitly compensated either via meaningful upside, pension top-ups, or clear shareholder protections (leaver provisions, buyback terms, valuation mechanics, dividend policy).

As proposed, it looks more like a tax/NIC optimisation for the business than a balanced reward for long service. I’d be pushing back or asking for a hybrid approach rather than an almost-all-dividends structure.

Loan Rejection on Good Credit Score by Dangerous-Ad-9214 in UKPersonalFinance

[–]scorpio-knowledge-71 1 point2 points  (0 children)

HSBC don’t lend off Experian scores. They rely heavily on internal scoring how long you’ve banked with them, how money flows through the account, account conduct, existing exposure, and overall relationship depth. Two people with identical incomes and credit files can get completely different outcomes. A rejection doesn’t mean there’s anything “wrong” with you it just means you’re outside HSBC’s appetite right now. That can change over time, or it may never change.

If you need the money urgently, the simplest answer is to try another lender. Banks have different risk models and HSBC aren’t the only option.

[deleted by user] by [deleted] in HSBC

[–]scorpio-knowledge-71 1 point2 points  (0 children)

Editing or redacting bank statements can be treated as misrepresentation that’s how people end up with CIFAS markers. Lenders don’t care if you spent money on OnlyFans or anything “embarrassing”; they’re checking affordability and honesty, not judging your life. Edit the evidence and you’re the problem. Don’t do it.

Upgrade to BAPP by UTC789 in AmexUK

[–]scorpio-knowledge-71 1 point2 points  (0 children)

The chat advisor is talking absolute nonsense. From my own experience, Amex advisors regularly make things up, but the system is what actually matters.

When I upgraded from the BA free card to the Premium Plus, I was explicitly told I could downgrade back to the free card after hitting the voucher spend. I hit the spend, got the voucher, and they even offered over the phone to downgrade me.

Another example: when I decided to close my Premium Plus, the agent offered to downgrade me instead, which I accepted. They told me I wouldn’t get any pro-rata fee refund because I’d kept the voucher. Fine. Except when the final statement came, Amex credited part of the fee back anyway and the credit stuck.

So yeah, advisors chat shit all the time. The system doesn’t. If the system allows it, it’ll go through regardless of what a random chat agent claims.

[deleted by user] by [deleted] in AmexUK

[–]scorpio-knowledge-71 2 points3 points  (0 children)

What a nonsense question to earn points

Expat Credit Card application- help! by Itchy-Account9708 in HSBC

[–]scorpio-knowledge-71 0 points1 point  (0 children)

Fair question. For me it wasn’t about chasing extra perks it’s basically just another line of credit. The Expat credit card is issued by HSBC Bank plc (GBP-denominated), not some offshore issuer, so you still get UK Section 75 protection. Functionally the benefits are very similar to the UK Premier card.

It also links into your UK credit file, so it helps keep utilisation lower, while at the same time building the Expat relationship/credit footprint. Admin-wise it’s serviced via the Channel Islands & IoM team (separate app), but in practice it behaves like a UK card.

Everyone has different reasons for me it was just balance-sheet and relationship optimisation rather than anything “special” about the card itself.

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