HSBC Credit Card Services Complaint - HSBC Upped my rate after 20 years of service, no late payments, and 800 Fico score.
I've been an HSBC credit card customer since 1989. I've paid on time every month. I received notice that they are upping my rate to 19.99%. I called to ask for a lower rate than my current. Spoke to a supervisor, and she said that due to a change in their business practices, the 19.99% interest rate is the lowest they can give me. My only recourse is to cancel the account. Interesting business decision, they only want to keep the customer they can make a lot of money on. Customer loyalty isn't important.