SOUTH CAROLINA -- I have to start by saying I am guilty of not reading my statement and just grabbing the top page and paying the bill. When I checked it the other day, I discovered I owed far more than the furniture cost. They have charged me over $700 in interest this year. I made two late payments and they are charging interest on the late charges.
When I called, the supervisor hung up on me after telling me to pay my bills on time. Believe me, I was upset but I was in no way rude to this women (Colette). I have been on line trying to find a link to an executive officer to further my complaint, to no avail. In my 60+ years I have never seen such shoddy lending practices. WHY HASN'T THE GOVERNMENT STEPPED IN TO SHUT THESE FOLKS DOWN?
Whatever you do, if you plan on paying off your hsbc credit card, they don't want you to pay it off because they want you to owe them. I paid off an orchardbank card in February of 2009 and have account statements and check carbon to prove it. However this card ended up in collections and I had to chase it down in order to pay it and inevitably I was referred back to hsbc to pay it. They already made three times as much off me for this card. The customer representative said he would send me a notice it was paid off. The amount came out of my account and I thought everything was good. Six months later a company or collector started sending me notices through the mail that I owed them more money and said ididn't pay that card. So now they are making threats that they are going to garnish my wages for a bill that got paid off. I can't afford to pay another 1000 dollars as I am a single mother trying to make honest efforts to pay off my bills and am struggling financially and if they were to garnish my wages I would be out on the street with my children. I think I will have to talk to the attorney general about this. They said in the threat that I could get my money back after they took it and get a lawyer which I can't afford.
That makes me think that even if they did take another 1000 dollars what would stop them from saying I did not pay them but they helped themselves instead and keep doing it over and over again just to make more money off of a poor woman trying to make ends meet. Hope this helps someone.
OK, so today I received a notice from HSBC that they were jacking my APR up to 25% next month. I thought "that's ridiculous". So I called the number in the notice to ask them why and all I got was an automated system. You know the type, with the condescending voice. Anyway, after fumbling through the blasted menus and multiple redialing it gave me only two options. Accept the terms or cancel the card. Well I immediately chose to cancel. Why should I pander to them? If they don't even want to talk about it I say F-em.
Then I tried the number on the back of the card for answers to why they did this. Well that was useless. All I got from that was some poor guy in India, who could only spew back at me the company line. He was rather confused and couldn't really answer me. He just kept repeating the same thing over and over. A computer answering service could have done the same for less money. I finally called him an idiot and hung up. Don't worry, I don't think I was able to insult the guy, he didn't understand what I was saying after all. HSBC, get some real/knowledgeable people to answer your phones! You look rather incompetent when that is the best you can do for customer service.
Back to the issue, they had no reason to jack up my rate. I've made all my payments on time, have excellent credit, above 750 if you must know, and have had this account for years . . . ever since I bought my big screen TV on it back in 2002. The only reason that makes sense is that they screwed up in the home mortgage market and are now trying to use their credit customer base as a captive money making machine. SHAME ON YOU HSBC. You screwed up and you know it.
It wasn't my bad judgment that put you here. It's solely your own fault. Don't try to make me pay for your mistakes.
Thankfully I really didn't have much on the card and was going to pay it off this next week anyway. I just moved that payment up to today.
Oh and HSBC . . the loss of your little credit card is no skin off my back. I think I'll do just fine without you. I think the world would do just fine without you. May you go down in flames. I hope you go bankrupt.
P.S. Same goes to any other bank that tries this stunt.
KANSAS -- I have always paid my bill on time, never had a late charge and had $4,000 line of credit. I get a letter in the mail telling me they had lowered my line of credit to $550. I only have $524 on the card and have faithfully sent them a payment every month. Why do I have to be punished for the ones that don't pay there bill. Also HSBC has a problem posting payments. I can send my payment as soon as I get my bill and sometimes they still charge me a late fee trying to convince me to pay my bill online. Which will never happen I do not trust the internet and why would I want to put our postal workers out of business plus take the risk of someone stealing my identity. They also raised my interest rate from 9.99% to 19.99% and I don't get it when I am in good standing with this company. I feel the people who pay there bills are the ones being sacrificed for the ones that over extended themselves on credit cards and that is not fair to the people who keep their credit in good standing. I plan to pay off all my cards through this bank and discontinue use of this facility.
They are unfair in the way they handle things and all the money the government has dished out to them to bail them out and the American People who work hard everyday are the ones that get to bail out these failing banks and more less pay for those people that do not pay there credit card bills. Do you think this is fair???
It sure does make a person mad when you hear on the news that this money these banks and businesses are getting are not using the money for what it is for. So they take it out on the American People. I for one am feed up.
I just got off the phone with HSBC Discover - they did it again - I put in my right bank account number just like last month. However, since they require 36-48 hours prior to having the payment post this month I put in an additional $15 to immediately process since the payment was due two days later. The payment was "returned by the bank 4 days later" per the HSBC representative for a wrong account number. When I look at the statement they just released it was returned the same day - two statements completely in opposition of each other. Then, in addition they added an NSF fee, a late fee which together with the payment they returned put my account overlimit so let's add another $39. They added $105 extra to my account. Last month I paid their fees because I thought, well maybe I made a mistake in inputting my checking account. This month I know that I did not make a mistake with the input and it is HSBC's way of racking up fees. I went on their website and they state that they will change the account number if they verify with the bank that it is not the right number. I went to the screen where I had input my information and they have changed it, again. I changed the bank account completely to make sure they do not automatically do this again.
So the bottom line-the wrong number attached to the supposed NSF check is the account number that their third party changed on my payment, starting the whole thing. There are people with the same name in my area, two at my same bank I use for my payments. Something really stinks at HSBC, this is a clear violation of banking rules and of credit laws, they fraudulently change the information at their will and then refuse payments in order to make money racking up fees - they need to be fully investigated and we the people need to file a class action suit. Anyone interested.
I acepted a postal mail pre-approved offer, and opened a credit card account with this company. I had the card for about 2 years (+/-) without any problems. I feel I was an ideal customer, from the credit card company's standpoint: I never exceeded my credit limit, never once was late with a payment (on ANY of my credit accounts, anywhere), and always carried a monthly balance. My FICO credit score is always in the 670 to 700 range whenever I check it.
One month after about 2 years, I opened my monthly statement and was shocked to discover that my monthly interest rate had been changed from 12% to something like 27%, and there was a monthly fee added for credit monitoring, which is something that I had never authorized and which is mentioned NOWHERE in any of the terms and conditions in the original card agreement (I save EVERYTHING when I open an account, and urge others to do the same).
I immediately called the company, and was sent to on-hold hell, where I spent much of my lunch hour at work and never did get a live servie representative. The next day I encountered the same thing, but did manage to eventually get a customer representative who explained patiently that in the account agreement it clearly states that they can pretty much change the terms and conditions of any account at any time for any or no reason at their will. I asked whether there was any sort of reason for deciding to change my terms with no notice at all, and received no clear answer (just a canned statement that something must have changed in my credit history or that I may be in default on some other account. Bullsh*t; I monitor my credit score and am NEVER in default on anything. I have since double checked, and my credit is fine and I have had no problems with any other company.
I was pretty angry by this time, and very clearly stated that I wished a payoff amount and wanted this account closed immediately. I received the payoff amount, paid it off in full by internet transfer from my checking account while still on the phone with them, and verified on the phone that they had received payment. I repeated that I Wanted the account closed immediately, and wished to file a dispute for the credit monitoring charge of $12.95.
In about a week, I received in the mail a computer generated form letter confirming my disputed $12.95 charge.
2 weeks later, I received a monthly statement which indicated that the account was still open, with a zero balance. I immediately called, and was told that there mst have been some mistake or misunderstanding as nowhere did it state in my records that I wanted the accoutnclosed. I was angry now, and very clearly stated several times that I wanted this account closed, NOW. The representative said it was now closed.
The next month, I received another monthly bill for zero dollars... This time I asked for a supervisor, and repeated my insistence that the account be immediately closed NOW this INSTANT. I again got the song and dance about there having must been some miscommunication on my part. I followed up with a written letter stating the same thing, and have not received any monthly bill since then. Eventually I got a check in the mail for the $12.95 disputed credit charge.
Beware tis company. If you DO open an account, be sure to check your statement every month, as they are dishonest and unethical and undoubtedly make a LOT of profit by slipping in unjustified fees and changes in interest rates without anyone noticing. I am just thankful that I happened to open the paper statement and check that month, since I usually pay online and might not have noticed being raped for several months otherwise. I went back through my mail, and there was NEVER any sort of notification of the change in interest rate or additional fees provided to me.
Note: I have a Capital One card, and have never had any problems like this in 10 years, nor have I EVER encountered such an uncommunicative, rude, arrogant customer service staff as the one at HSBC.
BUFFALO, NEW YORK -- Do not use HSBC for mortgages or refinancing unless you love to go through hell and lose money. I have investigations ongoing from state and federal agencies along with the Better Business Bureau into the business practices of HSBC Bank, Mortgage Division. The complaint concerns two issues:
1.) Deceptively assuring customers that loans were pre-approved to collect non-refundable application fees
2.) Performing fraudulent appraisals.
On February 5, 2008 I inquired online to HSBC Bank on the refinancing of my manufactured home. HSBC Bank is the current lender for my mortgage for over 15 months which I have had no prior issues with or had any late payments on, so I thought it was in my best interest to continue my business relationship with them. I received a call of pre-approval from [snip] of HSBC at 1-800-622-7759 ext. 6393 and she brought up my account and asked me for more personal information and brought up my credit report. At this time we locked in a rate at 5.6% and I was told that I would have to pre-pay a non-refundable application fee of $525.00. At the time she brought up my credit report, which is a credit score of 678 and said that with all of the information she had that the refinancing should go smoothly and quickly. Knowing that they manage my mortgage and have for over 15 months, I paid the $525.00 after being assured that the refinancing would be done. After several days I contacted Denise to see how the loan was progressing, and was told that HSBC does not refinance manufactured homes and that they would not able to refund the application fee of $525.00. Being that they have managed my account for over 15 months I was puzzled why they did not tell me that they could not refinance my home before they took my "non-refundable" application fee.
At this point I submitted a formal complaint and received a call from Denise's supervisor. I explained my frustration that I was assured and pre-approved for a loan which they ultimately would not provide and that they would not refund my money. I would not have given them the application fee of $525.00 if I would have known they would not refinance my manufactured home. She told my that I had given Denise false information concerning the property type, for which I stated that not only did I not give any false information, but that they have all of my information from the current mortgage which would made it impossible to falsify my information. At this point she told me that HSBC buys mortgages in bundles and has no idea of what those mortgages are, but she would investigate.
She called the next day to inform me that HSBC would not refund my application fee of $525.00. I the told her that I could not believe that after 15 months of making thousands of dollars from me that this business relationship was going to go sour over $525.00. She then apologized and said that the $525.00 could not be refunded because it was used for an appraisal of my house. I told her that there was not an appraisal done of my house and she checked on her computer and said that one had been done. At this point I told her that I am a certified Appraiser II for the Property Tax division of the Arizona Department of Revenue and that a drive by picture of a house may justify as an appraisal in New York, but not in the State of Arizona. She then checked the computer again and said that a full appraisal had been done of my home. I told her that in order for a full appraisal to be done, the appraiser would have to enter my home and therefore I would have to be present or someone representing me would have to be there. She insisted that a full appraisal was done.
I then asked her how did someone get into my house and why would HSBC perform an appraisal on a house that they would not finance. She did not know. I then asked for the name and license number of the appraiser. She said that I would have to talk with underwriter [snip] at 1-800-432-5632 ext. 5173, but quickly said that she was not in that day.
I have left messages with Judy Harway, but she refuses to return my calls. At this point I felt that there was some kind of fraudulent or criminal business behavior going on and I wrote in another formal complaint to HSBC stating that I was going to file a complaint to the Comptroller of the Currency, the New York Attorney General's office, the New York division of the Better Business Bureau and the United States Justice department asking for a full investigation into the mortgage practices and possible fraudulent appraisals performed by HSBC Bank. Since issuing complaints to state and federal agencies and multiple complaints to HSBC I have heard no response from HSBC and have not had any money refunded to me at this date.
The moral of this story is stay as far away from HSBC bank as possible. They will find a way, legally or not to take your money.
INDIANA -- I have had a HSBC Gold MasterCard since 2002.I have been an excellent customer and always paid on my account. I recently received a replacement card - 03/2008 - and along with it was an offer for 0% APR on purchases made between March 1 and April 30 for 6 months.
I was considering taking HSBC up on this offer but wanted to confirm the terms before putting any major purchases on the card. What happened after I contacted customer service was just UNBELIEVABLE! First, I was told by a customer representative that they had no record of a 0% APR for purchases even being offered to me. He said there was an offer for a 0% APR for balance transfers for 6 months. I explained to him that a purchase 0% APR offer comes with no transaction fees and balance transfers do, so I preferred the offer that was SENT to me with the card!
I asked to speak to a supervisor and after waiting on hold for what seemed like forever, I talked to Latoya. She again told me that no offer for 0% APR on purchases was in my records, only the balance transfer offer. I then read the offer that was sent to me and asked if the balance transfer offer could be changed to the purchase offer that carry no fees. She then said I had to FIRST fax a copy of the offer that they sent to me! I told her that they should be aware of the offers they send out to customers and put it in their records FIRST before sending them out. I asked her why should I have to fax them THEIR OFFER! She refused to budge on the matter and would not change the balance transfer offer to the purchase offer.
To make a long story short, I just told her how ridiculous the situation was and how I would have been in a real bind if I had trusted their false and misleading offer. So to anyone out there carrying a HSBC Credit Card beware of their bogus offers!
WILMINGTON, DELAWARE -- I have their premium card product: the Saks Fifth Avenue World Elite MasterCard.
While I don't have any major horror stories with payments or charges or rates or fees I am very disappointed with the quality of customer service I receive via postal mail, email and telephone.
Long story short without background:
I have sent some 6 postal letters to their Wilmington DE PO Box (Customer Correspondence) – no confirmation of receipt like with Citi or reply to any of my inquires after more than 60 days. Does anyone check that PO BOX? Do they have a dedicated team to reply to Saks MasterCard holders?
I have emailed them via website many times on various issues and in some replies gotten 2 completely different telephone numbers to call for follow-up and further information etc…. none of which were the numbers on the reverse side of my card
The MasterCard account is serviced by HSBC Card Services (and they keep telling me its done by MasterCard) but the emails via the web log-in go to HSBC Retail Services, which manages the Saks Fifth Avenue account. Thus none of the email reps can answer my question and thus tell me to call them for more info and when I do they have no idea about these emails and that this is the wrong number for my account and they don't offer to transfer me or apologize for bad numbers email reps give. Don't the systems record each and every correspondence item via all mediums with card holders?
Don't get me started on their telephone reps. No one is empowered to give me an answer and when I get some information it is often incomplete and false—until I correct them.
I finally got to a supervisor of the Saks First rewards program. She said she would call me back after researching my answer. No calls after 3 weeks. I followed up each week. My persistence paid off as when I finally spoke to her she said she had given my case over to a colleague and that person should contact me. Thanks for calling the customer to let me know! I should not have to follow-up. They should follow-up with me! And even this other more senior person had to consult with people in a different business unit and different state and city to get my answer. She even said she would send me the answer in writing -- I have gotten nothing after more than 30 days.
I got passed around on the telephone even at the senior level! HSBC Retail Services website states the aim for a one contact resolution – meaning the first person you call should answer your questions. I spoke to close to 10 people on just this one issue.
This is their most premium card product and I expect high quality customer service from all representatives of the company. I am upset that I am not valued as a premium card holder.
If they can't treat their premium customers right, how can they treat their low-end valued customers right?
Beneficial/HSBC is doing the same to myself and my family. We ran into difficult times a few years ago and we were convinced by them to refinance with them to catch up on the cc bills which were run up prior to this. The terms of the loan changed when we arrived the first time so we walked out. We were bothered for days following promising us this was temporary and we would be refinanced at a better rate within 6 months when their new 'program' comes out. Well here it is 3 + years later and no new programs. We are in tough economical times and my wife's business isn't doing well. After paying over $100k in interest, we have made partial payments for the past 3 months and we have received a foreclosure notice. I called to see what we could do to work it out and was told that they will work with us to Exit the house..I'll be damned if I walk out and let them have it! They over valued the residence and we are unable to refinance! I too agree that we need to initiate a Class action, please email me if you are interested in participating. bm2492@Hotmail.com