HSBC claim to have strong security and privacy measures. They provide a hardware device that generates a one time password. You use that along with a pin number and a username to log into their online banking site. Now here starts my timeline. I apply for a HSBC credit card April 2006 and I promply get one by June 2006. They are one of the most blatant solicitors and have call centers spread across the country calling randomly generated numbers. They keep calling me 5-6 times a week soliciting credit cards even after I received one is a different story altogether. So I did get my card and waited for their security device to arrive after requesting one. After many a calls, I did finally get one after almost 9 months only to be able to log into somebody elses account!
SBI solicits cards not only through the phone but also has agents spread across planet earth. You are somehow drawn into their net and apply for one. Now they need to verify your background. What do they need? Your credit card statements from other banks. They have resigned themselves into believing that they are late starters and every individual has already hooked onto some credit card or the other.