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Forum Name: - HSBC Credit Cards
Topic Title: HSBC Takes Over Direct Merchants Bank
Thu Feb 16, 2006 7:55 pm
My experience with HSBC is in regards to Direct Merchants Bank which they recently took over. I had problems accessing my account on several occasions online. When I finally was able to access my account it said I was $16 past due which I ended up paying. I then was also hit with a late charge of $35 which I disputed since I had account problems. I then received 10 calls in one day claiming I was past due. I talked to one rude customer service person after another. The first one said I was $47, then every one after that claimed I owed a different amount that was higher than the first rep I talked to until it stopped around owing about $80 or more.
I also came to discover that without notification my credit limit was changed from a $2400 limit to $1800 and that the credit I had left was $202. I wrote to them several times online asking why they did this and their response was that they can change my credit limit at any time. Meanwhile they tacked on another late charge and also added another past due balance. According to their credit agreement they are not allowed to add on charges that are in dispute.
It is amazing how HSBC violates their own rules and they tack on charges you don't owe just to make a buck. They claimed I was past due 30 days which I wasn't (how does supposedly being 5 days over due because of account problems suddenly translate into being past due 30 days?).
I have since complained to the Better Business Bureau regarding their predatory practices as well as to the Attorney General's Office of the state of Arizona. I also am having to contact the Comtroller of the Currency Administrator of National Banks which is on the federal level which handles consumer complaints about credit card companies. If anyone needs the web addy it is http://www.occ.treas.gov .
I am amazed how HSBC claims to value its customers yet treats them badly and harrasses them in order to collect money that the customer doesn't even owe. On top of that they ruin your credit record if you even stand up to them. I have read about HSBC (and Direct Merchants Bank) on other sites and found out I am not the only victim of their predatory practices. This company should be avoided if you need or get contacted about a credit card.
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