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Discontinued Its' Relationship With Me After 40 Years Of Doing Business
Posted by on
EDEN, NEW YORK -- I have had a checking account at HSBC for the past 40 years.I've had a few problems in the past such as them confusing my checking account with my son's when we made transactions. The final boner on their part is as follows: I received a letter, stating that my husband was one of 10 winners of a 1,500,000 sweepstakes entered through our purchase of a Sony TV (which we did purchase). We would be receiving 150,000. A check for 4,986.98 was included made out to my husband. (I checked online and there is a bank by that name in IA. In order to access this money we needed to pay the taxes which were $2,998.00 to be paid by Western Union or moneygram to the tax agent.

We called the agent and he accepted our claim number and told us to pay the taxes out of the money deducted from our winnings. We were very skeptical about this, seeming too good to be true. I deposited the check in my checking account and waited to see if it cleared. within a few days, I was unable to use my debt card,unable to get an available balance, they had no information for me whatsoever for 5 days.

Finally, I went to the bank and was told my account was on hold because a large check deposit was a fraud. (not a surprise) I showed them the letter, and they told me to report it to the post office and to go to my home branch for more information as to how to release the hold on my account. I had to wait over a weekend to speak to my home branch and was informed that my business was no longer wanted because of the fraudulent check. I asked if they had read the letter and they had no knowledge of the letter, that their fraud squad cancelled my account and to pick up my money at the bank.

Meanwhile all the checks which were supposed to be posted to the account will all be overdue and I will be charged a bounced check fee, in addition to a late check fee from each check sent. This happened once before to me at HSBC because they neglected to notice I had overdraft protection and closed my account. When notified of their error, they did agree to pay for the fees, were very sorry, and had no idea why this happened to me.(this sorry incident happened about 2 months ago, and before they had their major computer shutdown,affecting thousands of people) They are sorry about that too.I think HSBC did me a favor, don't you?
     
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Anonymous on 2008-08-26:
You were right in being skeptical, but wrong in depositing the check. Banks are taking such huge losses on these checks that they are going to quickly dump anyone associated with them... and that's you.
In hindsight (which is 20/20) what you should have done is showed the check to a manager, and asked them to submit it for collection. This is not the same as depositing the check, in fact you don't see any money until it has been cleared. If it turns out to be fraudulent, you are blameless, and at worst are out the charge for collection.
Anonymous on 2008-08-26:
Ken's right...you knowingly deposited a check you had reason to believe was fraudlent. Depositing a check is something that is intended to be in good faith. Anyone with doubts about a checks value should get it cleared by the bank before deposit.
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Discover All The Crap At Discover
Posted by on
IN April '08, we applied for and were accepted to get a balance transfer from Discover, no interest til 1/1/09. In the 3 months that have followed, Discover has proven to me everything I have ever heard about them. We have yet to see the card or a statement. We have no account number and with no number, you cannot call their customer service to find out what is going on. (trust me on this, I called every other day during the whole month of May.) Starting June 4th, they started a campaign against us which is unbelievable. We get 10 calls a day from them, including Sunday. I now have recorded 42 names of "customer service agents" along with 22 bogus phone numbers that they have claimed would get me answers. These numbers are to construction companies, doctor's offices and numbers that are out of order. They claim on their computers they ca see where all the mail has been returned, yes the address is correct.

To date we have been promised that we would receive a statement in 5 to 10 working days, and yet one has failed to appear, that would be a total of 210 statements. The thing that bothers me most is that they want a payment on an account I have no number for nor have we seen a statement about. We have no clue what is on the card, because even since we can provide the vital information, we still don't have an account number. When I ask to speak to an account manager I am put on hold and then the phone clicks off. Again, they are demanding payment on an account that we have no number to, no card for, never seen a statement.

Do I believe that there is something FOUL in the air at Discover - HELL YES!. The threat today was they were sending it to collections. I told them to do it, I will see them in court!! BTW, if you are searching for a brain surgeon, don't go looking in there phone pool, those people can barely speak properly. (yes USPS has been notified)
     
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Ponie on 2008-07-09:
I'm sure I must be missing something here, but: how can you transfer a balance to Discover without having a valid card? Every one of my credit cards has my account number on it. Ya' know something? I really don't believe this post and seeing the lack of responses, I think most agree with me.
Mrs. V on 2008-07-09:
Ponie, I don't think that the OP has gotten an credit card sent to them yet (so they can't look at the card for the account number).

The OP most likely did an online application with Discover with the account numbers for the accounts they wanted a balance transfer on (so again, didn't need an acount number from Discover, yet).
discoverbull on 2008-07-10:
The application was on line and yes the transfer was from another card. Three (3) months later, no card and not even one statement. Without a statement or a card, we have NO availibility to an ACCOUNT NUMBER. I believe the first line of the complaint states this.

When we have called the "customer service" dept. we get transferred on the average of 5 times because of a lack of a NUMBER. No statement, no card, no number.

Not really worried what YOU think Ponie. We have contacted a federal agency over this and found out that this is a problem a lot of people have with Discover.
OhComeOn on 2008-08-07:
You don't need an account number to bring up an account. Give them your address, which you already verified they have. Or a social... or a phone number.. or your NAME...etc...

Just curious, what account are they looking at when they have called you all these times?? Because I find it interesting that you have failed to make a payment "210" times on a debt you know you owe, because you don't have a statement. Yeah you should have one, but still.....
Kirsgram on 2008-10-19:
My husband had a similar problem. He got a HSBC Discover card about 6 weeks ago, has used it, but not received a statement. Last week, Sunday Oct. 12, some guy called from HSBC demanding a payment of $55.00 which included a late fee. I told him they would have to talk to my husband. My husband called HSBC the next day, informed them that he had not gotten a statement, and was told that his statement was mailed on Friday, Oct. 10th. Now I don't claim to be a mathmatical genius, but I do know that there is no way if the statement was mailed on a Friday that we would have received it by Sunday, and how could they consider it late if we had not had time to get it? We finally got the statement on Thursday, October 16th. The customer service rep I talked to was very rude, as was the one my husband spoke to. You can bet this account will be closed and we will never do business with them again.
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Bad Credit Practices And Fraud
Posted by on
CA, NV, IL, BC, TN, MD, NY, DE, PA, NJ, FL, AB, MB, COLORADO -- On 1/10/08 I called to cancel a recurring charge on my HSBC credit card from an HSBC life insurance policy. (They are located in California and Nevada in my particular case... seems they have location everywhere except in states where credit practices are tight). The life insurance policy doesn't have me on file (I'm glad I didn't die!). I call HSBC card services (presumably in California), tell them my dilemma and they claim they will stop all future charges as of 1/10/08. I pay off the balance 1/11/08. I think it's resolved..... They said all future charges will not be accepted!

Another charge from the "life insurance" that doesn't know I'm alive on 1/22/08 and again on 2/22/08. I called HSBC card services on 3/10/08 and speak to the same manager. She sees that I called before, and what the problem was and that all charges will be reversed. She says I can disregard all future bills "it is taken care of". She goes through the normal routine when I ask to cancel the card...

I get a confirmation of the cancellation dated 4/11/08 that my card is closed BUT "all recurring charges" is my responsibility to cancel (I thought it was resolved!). I get a bill that says a LATE FEE is charged on this life insurance that doesn't know I'm ALIVE and on charges that were NOT supposed to be accepted on 4/16/08.

I call HSBC card services on 4/28/08, and get a different "manager"... seems the customer service rep doesn't see that I've called before!.... and try to get my balance of $88.76 reversed and RESOLVED.... but instead I get Holly telling me that she can reverse $70.... not $88.76.

I'm trying to close off this card and everything associated but CAN'T. This card wants more money!

I've have filed this card with BBB in Cal (will be on every BBB in every state they are located in), I am contacting every Attorney General in every state they are located in, plus the FTC. If I hear of any other government agency that deals with this sort of issue, I will contact them. HSBC cannot stop itself from charging itself even when it doesn't acknowledge what it is charging!

I will be contacting a lawyer through prepaid legal (never thought I'd really need it, but now I'm glad I have it).

If HSBC card services ever tells you they will STOP ANY CHARGES..... Don't believe them.

P.S. I not only have a date that I called these people but I have time as well. So if any entity wants TIME as well as DATE I have it.
     
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Fake Transactions charged
Posted by on
NEW DELHI, FLORIDA -- This is to inform you that I [name removed] is holding a credit card with account Number [removed] in my name of your bank with this I have been also issued a add on card in the name of [name removed] . Both the cards are now blocked from 10th December, 2007.

In the January, 2008’s monthly statement which I had received after repetitive request to your customer care officers, I saw that 4 transactions shown in the statement have not been done by me or the add on card holder. These 4 transactions have wrongly been credited to my account . The transactions I am talking about are as follows:

S no Transaction date Posting Date Details Amount
1. December 01, 2007 December 03, 2007 ClearTrip Travel Services , Mumbai Rs. 6830
2. December 01, 2007 December 03, 2007 ClearTrip Travel Services , Mumbai Rs. 5726
3. December 01, 2007 December 03, 2007 ClearTrip Travel Services , Mumbai Rs. 8222
5. December 02, 2007 December 04, 2007 Yatra Online(P) Ltd Rs.7223.25


Again to reconfirm that I [name removed] has not carried out the above mentioned transactions via my card having account number [removed] . Please revert back the unnecessary amount totaling to Rs. 28001.25 .

Please note I have already made complete payments for all the valid transactions done by me as guided by your customer care Officer. Amount of Rs 800 was paid on 1st January, 2008 which is being reflecting in my account .

All the Balance amount left to paid according to you is under dispute. I am not going to make any further payments for the balance amount which is Rs. 28001.25 which is under dispute and which is for the transactions which I have never done. This has been confirmed from the merchant who has billed the amount.

Please note these transactions were for some air tickets booked via the mentioned travel portals. You can also confirm that there air travel were not done by me, any of my known persons. I had even requested the travel portals to cancel those tickets, but they said that this payment has already been cleared may be by mistake by your Banker which is HSBC in my case.

If these transactions are result of some cyber crime or fraudulent mal practice, then this could have been stopped very easily if you people had taken some action like investigating the issue a bit early or at least after I had informed the bank about this on 9th December, 2007 vis phone to your customer care officer.
Email Id is : xs2ashish@yahoo.com

You can check my credit history that I have always made the payments on time, so please check the transactions and revert back the amount as soon as possible.

Thanking you in anticipation,

Ashish
     
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thensider on 2008-02-18:
PROBABLY NOT A GOOD IDEA TO PUT YOUR NAME AND ACCOUNT NUMBER IN AN ONLINE FORUM< SUCH AS THIS!
Principissa on 2008-02-18:
New Delhi Florida?
old fart on 2008-02-18:
Insider... someone is going to charge an around the world trip on this info sometime today.. without thanking Ashish..
jktshff1 on 2008-02-18:
I sure wouldn't put my information on a public website.
You need to immediately cancel the card (s)
chemman on 2008-02-18:
Well, he does say the card has been cancelled since Dec 10, 2007 but I would still be wary of posting the info online.
thensider on 2008-02-18:
nice that the sight has removed the name and account info, meanwhile at least 4 people saw it and who knows how many looked at it without commenting!
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Saks Fifith Avenue World Elite, HSBC Card and Retail Services, Customer Services/Communications
Posted by on
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?
     
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Anonymous on 2007-11-28:
Cancel the card and shop elsewhere.
jenjenn on 2007-11-28:
Amen PB!
laklisa on 2008-04-19:
Just curious-have you had issue resolved?
I am a rep in the Saks 5th Ave service center and handle customer service for both Saks and Mastercard...
I don't know of the issue but I hope you got resolution
Anonymous on 2008-06-02:
Yes, laklisa I did. Sory for my late reply. I rarely go back told posts. I got a gift card in the end as compensation for my troubles. Hope you can take my comments and make confidential recommendations in your team meetings. As I know we all expect very high quality customer services from Saks. Thanks.
Anonymous on 2008-06-02:
I hope laklisa comes back to see NAS88's comment! I voted this post 'Very Helpful' because the OP came back and told how they were compensated. I'm curious if NAS88 still carries the Saks card and if he/she saw the compensation in a gift card as sufficient. Thanks for coming back!
Anonymous on 2008-06-02:
Yes, Ghost of Doc J, The compensation was enough. The promotion I was in touch with them about had a maximum reward points amount which was akin to a $50 saks gift card. So I was more than satisfied, but still diappointed in how it was handled until that letter from them.

P.S. Just today had to contact them about another issue (thus my reason for returning to this post) and got passed around - and even mis transferred by a representative. I had to hang up and call back as that person could not transfer me back to the main line. I know they must be going through regular staffing changes, but hope laklisa can make confidential constructive comments in team or training meetings--it might even lead to a promotion because of her suggestions?! Maybe she should train new representatives too. :-)
Anonymous on 2008-06-02:
That's the spirit, NAS88! I like people who get customer satisfaction through a well-placed complaint. I REALLY like people who use their personal complaint as a springboard to improve everyone's customer service like you have. Good luck on your latest misadventure...it sounds like you are willing to consider a valid reason for their newest CSR issues.
laklisa on 2008-06-13:
I'm glad that you were satisfied with the end results. And actually I have given some training to some new employees!
The bad thing is that HSBC is a big bank and handles other store charges (Best Buy for example). So unfortunately sometimes it takes more than one person to handle a situation. It frustrates me when a customer calls upset and tells me one rep had told them one thing-which was wrong-and I have to give them the correct/right information. Sometimes I feel like the middle man and not a "one-stop" rep!
Anonymous on 2008-07-10:
Just had another disappointing interaction with them and this old post of mine came up in my memory and thought I'd share.

I had gotten a direct 800# for the merchant dispute department via email, but it was wrong and not in service. I emailed back to send the correct #. The reply was of no help--it said email us again from the website or callus. What?! I called them and the guy gave me the corrected#. I then mentioned both the other reps by names (original email and reply email) but he had no idea who they were. He did not apologize for the mistake or offer to investigate why it happened nor did I press for either.

Ughghg, do they not get it??? By ‘they’ I mean the email reps. I rarely get satisfactory service from the email reps -- who answers these anyway. They are signed HSBC Retail Services, but I clearly email them about my MasterCard account not my Saks account.

P.S. It took forever to get to a rep. I had to hear all sorts of prompts and balance info and a long silence before hold music came on--and I kept saying HELLO, HELLO? and was about to hang-up. Tip: Us busy people like to talk to someone right away to resolve our issue--not listen to undesired account information.

Sorry for ranting.


Anonymous on 2009-01-15:
OMG, Must I always remember this thread when I have issues with this customer service!!!!!

Again another abysmal problem. I wanted to request my year-end account summary and it took over 1hr including wait times, hold times, disconnects.

Some bullet pointS:

• 302# has really long wait time recently. I ALWAYS get transferred when I call that #.
• One agent insisted she was transferring me to MasterCard – the Corporation in NY – I don’t think so, they don’t service the account. She could not explain the difference between Card Services (MA service) and Retail Services (private label service.)

• 866# answered one time as “Credit Services”
• One guy at 866# said he only does balance info and the like, and offered my December statement, with NO idea what a year-end account summary was
• They can’t stay on the line with you to connect you directly to an agent. Instead I got put back in cue many times
• I always hit option 1 – “calling regarding your MasterCard account” but when I reach them none of them can help about my MasterCard account, was later told to hit option 4 instead
• Was transferred onE time to the private label (Saks charge) service section and they could not help me with my year end account summary request. Um hello, first agent I told you my MasterCard account#, wanted my year end account summary – what make you think Saks private label service can help.
• To top it off – my email request for this was of no help and asked “call the # on the reverse of your card” – not signed, but appears to have changed some headers, and names.

Why must I endure foul customer service from a premium card product.
Anonymous on 2009-09-16:
Just wanted to add to keep people informed.

On a recent call to the 302# on the reverse of my card I was told that the only thing they are responsible for is transferring callers to Customer Service. (This was after I had indicated I was a Saks World Elite MasterCard holder.) They cannot handle any Saks accounts apparently. The guy also tried to give me an 800# for Nordstrom.

Also at the Customer Service # (866) I was given a 302# ending in 2760 -- my card says 2560 on the reverse. I indicated and repeated this to the representative but she insisted I must have an old card as this was recently changed. I said how recent and she replied that she did not know but it is correct. FALSE!!!! AGAIN!!! I called that # ending in 2760 and get a recording that this HSBC # has been disconnected! I mean, come on. Wrong information again! This has happened to me too many times and both were wrong telephone numbers!

Why on earth give us a telephone number to call when all the person doe on the other end is connect you to someone else while you are on hold! Seems like an expensive way of doing business to me.

All I want is the reps to be more informed and they won’t get bad press on this forum. It takes dedication, good training, respect, and a good attitude to satisfy the customer. I do not see these qualities in many of the representative I encounter at HSBC Card Services//Retail Services.
Anonymous on 2009-09-23:
These guys Security Department is way too sensitive I have had 4 calls from them in the last 3 months. Nothing has even been wrong but they cannot seem to train their computers to recognize my normal spending pattern. God forbid if I had multiple authorized users and used this card as my primary credit card for my family for everyday purchases! Who do they think they are? This is a premium card competing with busy high income people who probably travel across time zones and who normally use American Express -- I cannot deal with this wishy washy service.
anonymous on 2012-03-25:
I have recently had my Saks Elite MC compromised.(cloned so they told me) HSBC, who handles this, has NO IDEA what they are doing and has a crappy Fraud dept. I thought I was talking to SAKS, but was not. I wanted a new card overnight and they said it would take 2 weeks, but we ended up with them saying 5 days. Since my credit was all used up by the perpetrator, they will give me no new credit until it is resolved. It clearly states in the book they send out, that they will send you out a new card overnight and extend you $1000 credit. That is clearly NOT THE CASE. I am very disappointed in SAKS for allowing this to happen!!!!!!! They need to STOP saying their Little Black Card is so great......because when something goes wrong, THEY DON'T KNOW HOW TO HANDLE IT!! I noticed this on a Friday morning and the charges were made on the last day of my billing cycle, so very hard to detect. There never was a pending charge as it went right to charged, as I check my statement online everyday and never saw this till the actual charge was on there. Very strange. Makes me wonder who would know my closing date, since it was done on the last day of my billing cycle. Its funny that they call me on every piddly charge,however $11000 in increments of $500 Gift Cards from seven different locations of the same store in NC (I live in AZ) in a period of 3 hours does not a red flag make??? An inside job perhaps?? I am VERY UPSET and FRUSTRATED, and will be contacting SAKS on Monday, regarding this!
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Defrauded and lied to
Posted by on
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

     
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Alain on 2010-12-20:
This website is is probably not the best place to initiate class action lawsuits. Have you tried getting a free consultation with an attorney?
bm2492 on 2010-12-24:
Its hard to find a lawyer willing to take them on as they are pretty heavy lobbyists. I was trying to post wherever I could to drum up interest.
bm2492 on 2011-01-04:
Are there not anyone else interested in a class action lawsuit against HSBC
jktshff1 on 2011-01-04:
bm, no one would make money but the lawyers.
Sey on 2011-09-19:
Sey on 2011-09-19:
Please consider submitting a complaint to the State Attorney Generals Office.
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Um....Really?
Posted by on
I have had a Gold MC for longer than I can remember, have always paid my bill on time and have spent and paid off tens of thousands of dollars. I received a letter to make a purchase on my $11,000 limit, zero balance account or my account would be closed. I meant to and was in the middle of moving from Georgia to California and never made the purchase. They consequently closed my account, my debt to income ratio went down, my FICO plummeted and my credit was strongly negatively affected. I am very dissatisfied about that but rely on my other credit cards who have not cancelled on a customer who has never been late, paid tons of interest over the years and always carried the card on him when leaving the house. I see MC applications online and in the mail and always ignore them as they have turned their backs on me regardless of how it affected my credit. I have seen the news stories that relate how credit card companies consider customers who don’t pay much interest and never any late fees to be the real deadbeats since the company doesn’t make much money on them.
     
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trmn8r on 2010-12-11:
I don't believe those stories are true, because I have never in 23 years of regular credt card use have paid a fee or any interest.

Yet when I have called, I have been treated wonderfully. Several times a CSR has said "Mr. XYZ, you are one of our best customers!" which I attributed to the fact I use my card often and always pay it off.

Credit card companies make 2-3 percent on each purchase made. That's a lot of money.

They warned you to use the card, but you didn't.
Fufu487 on 2010-12-11:
What happens a lot of times is when an account is not used it gets flagged dormant. Especially at a balance of zero. If dormant for so long the account may close itself. They called to warn you to use the card or it may become closed. I'm interested in what kind of time frame they gave you to make your purchase.
rockfishing on 2010-12-11:
You are the one who is at fault, not HSBC. They gave you fair warning to which you chosed to ignored. When you have a credit card you agree to it's terms and conditions. HSBC terminated you because you ignored them. I can't blame a company closing an account with an 11K limit that is ignored.
tnchuck100 on 2010-12-11:
They told you to do X or Y would happen. You did not do X. They did Y. End of story.

In fact most companies don't even warn you at all. Take American Express for example. You find out about the account being closed when a purchase is declined.
momsey on 2010-12-11:
You ignored them, they did what they said they'd do.
madconsumer on 2010-12-11:
if a card is not used for a certain amount of time, they close the accounts. odd but true.
NickL11354 on 2010-12-11:
The credit card issuer was probably surprised because most people would jump at the chance for $11,000 in available credit. Think about all the designer clothes, electronics from Apple & Best Buy you can get for $11,000?? How else do you think they are being bought other than most people charging thousands of dollars on credit for which the bank collects 15% - 25% APR (plus merchant fees) and the consumer spends 2, 5, or 15 years paying the bill
Inat on 2010-12-11:
happens to me all the time - you got to use the credit to keep it! Buy a tank of gas and pay it off.
trmn8r on 2010-12-11:
madconsumer -> It isn't really odd. It costs money to maintain an account, and it doesn't do the bank any good to have a customer who is able to borrow 11K but it borrowing 0.
Fufu487 on 2010-12-11:
It's also for consumer safety (though I'm probably going to get reamed out for stating it). Imagine you have a 9K credit card you forgot about, haven't used in 6 or 7 months, that gets frauded somewhere down the line. If you aren't watching the account, as inactivity would suggest, it could receive fraud charges and not even notice for months. You won't believe how often people throw out statements in the mail because they think it's junk, knowing they haven't used the card. Banks have a right to protect themselves.
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HSBC (Direct Merchants Bank) unjust treatment of customer
Posted by on
CITY OF INDUSTRY, CALIFORNIA -- I hate HSBC and will tell anyone who asks me to NEVER get a card issued by HSBC. I have had my account for several years and have never missed or even been late on a payment. Actually, I have generally paid more than the minimum amount due. However, due to "a business decision" as I was told they raised my interest rate from 14.99% to 19.99% and supposedly sent me a letter, those letters that none of us read as we get three or four a week and deem them junk mail. I have been a very good customer for HSBC and this is how they decided to reward me. I am trying to get out of debt and companies like this take advantage of the middle class working their asses off that aren't able to instantly pay off their credit cards. I hope their business suffers and even goes under in this economy. That's what they deserve for such crappy treatment of their customers!!!
     
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werelucky on 2010-09-11:
You accepted the terms of the credit card. It is your responsibility to read the fine print and understand the terms. It's like sticking your hand in a hornets nest and complaining you got stung. The best thing to do is have no credit card debt. Get two or three jobs to pay it off. Then, don't spend more than you have.
leet60 on 2010-09-11:
With most credit card agreements you agree that they are allowed to periodically review your credit profile. If they see late payments, a higher debt to income ratio or too many inquiries they have the option to modify the terms of your agreement. This is not only HSBC but almost every credit card issuer is the same.
bcd on 2010-09-11:
Since 2/22/10 credit card companies are not permitted to increase the interest rate on existing balances. If you had read the letters you would have had the opportunity to stop using the card and therefore not suffer the rate increase.
Nohandle on 2010-09-11:
Please in the future open what you consider junk mail. I learned that one a few years back after almost throwing a rebate check in the trash.
MaggieMcT on 2010-09-12:
I'm not sure why it would be their fault that you didn't read the letter?
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OVERPAID COMPANY
Posted by on
I have had a personal loan with Beneficial Finance for approximately 4 1/2 years. The loan amount was for $15,000.00. I was paying approximately $300 a month before my divorce. My ex-wife could not afford the $300 a month payment, so she applied for a financial hardship with Beneficial. Beneficial gave my ex-wife the "run around" several times. My ex-wife sent in the necessary documents for the hardship a few times (because Beneficial somehow lost or misplaced the documents), however, Beneficial took their sweet time approving the hardship. When the hardship finally went through, the payment was lowered to approximately $150 a month. This hardship was for 6 months and after the 6 months was up, my ex-wife could apply again. So, here recently she did--she was denied. Now, my ex-wife has not had an increase in pay or won the lottery. Beneficial told her to re-apply in a month---WHAT!!! This is crazy!!! Now in saying all of that, I need to say this, remember me saying that the loan was $15,000 and that amount has been paid on for years now....the balance as of May 2010 is $14,383.45. Ya, do the math. Beneficial is a rip off--the loan is paid down roughly $700 after several years. My next step is the Attorney Generals office. I am looking at having Beneficial Finance investigated.
     
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skelly39 on 2010-05-17:
This sounds like a line of credit. I have one with them also that I am paying off this week. The balance never went down. Check your paperwork to see if it's a closed-end loan or a line of credit. If it's a line of credit, see if you can get someone else to give you a loan to pay it off.
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This Company Is Out Of Control!
Posted by on
We took out a auto loan with HSBC auto financing, in 2006 for our truck, we have paid them over 18000.00 on our loan never late on a payment, and then the 6th of March I called them to see if we could defer a couple payments, they said no then transferred our loan to a debt consumer company, my husband has been laid off work so we are trying to save what money we have till he goes back to work, but this company couldn't care less about helping their customers, this company needs to be investigated, between their poor credit card services and their loans, they are ripping off who ever they can.

This is a sorry company all the way around, they should be shut down.
     
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warddw1526 on 2010-04-01:
I fail to see how they are ripping you off. You entered into an agreement where they loaned you the money, and payment amounts and interest rates were set up. Should they give you a break and help you out? Probably, if what you wrote is true. But they are not required to give you help.
babs on 2012-05-04:
Grasping for answers...Vehicle repoed then resold at auction 2002.
Why is it legal for a bank,HSBC, whom discharges/writes an account off, then sells the account to another bank, Citicorp, and almost 10 years later are able to garnish my wages over 30%! A total surprise one payday "missing" 30 plus % of my wages. I AM LOOKING FOR LOOPHOLES!!??PLEASE!! So asked HSBC to lower my payments due to medical attention needed for my child who was born with a birth defect affecting her face, and got no sympothy just like you. I am currently happy with my current loan/banker and am looking for a way to get out from under this mess. two fold. I also have a credit card with HSBC. Bought a pack of smokes and three yrs later I owe 300plus. got fraudulent charges that aren't mine and they refused to remove them. How's that for horrible customer service! I'm gona get some legal advise but with the first amendment on my side I will drive my vehicle with a big magnetic sign with nothing but facts and warnings. d
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