HSBC Visa Complaint - Account Cancellation
ST. LOUIS, MISSOURI -- Today I received notice by mail that HSBC was cancelling my account. I opened this account in 1992 and for many years carried a very large balance and paid $$thousands in interest. My account limit was $17,500. Last year, after paying off my balance, HSBC raised the interest rate to 17%, which is not competitive with my other accounts. I have not had any activity on the account for nearly a year. The notice stated that my account was being closed for inactivity. When I called to inquire, I was told that I would have to reapply for new account.
I have never been late. I have an excellent credit rating, at least until this account was closed.
I was told there was nothing I can do. This is ridiculous and undeserved treatment.