HSBC Complaint - HSBC Credit Card Consumers Beware
My experience with HSBC has not been good. I have had 2 cards managed by HSBC. The first bad experience was with my HSBC managed Best Buy Card... I had the card before HSBC took it over... I started with a $2500 credit line with Best Buy. HSBC took over the management of the card and reduced my limit to $250. Mind you... I have never been late on any cards and never over any limits. Needless to say... This took a bite out of Best Buy's business... I used to spend thousands of dollars there but no more.
This month I went to use my regular HSBC card that had a $1600 credit limit only to find that they closed the account. I had a credit balance of 33 cents for the last 3 months. When I called they said that they reviewed my credit and deemed that the account should be closed. I have an excellent credit rating with no late payments and no over limits and I have a stable job. I don't get it? I'm just going to recommend that merchants and consumers just stay clear of HSBC.
Not sure what their problem is but it's obvious that they mismanage their accounts. If they send you a credit card offer... Just say "NO".