Its clear that HSBC HATES the new “LEGIT” credit card rules that will take effect in 18 months. After all, the laws ban everything they do now.

As one of the great fired honest Account Executives in California, their strategy is clear. Get and rape every cardholder NOW - while they still can.

I sympathize with the great credit cardholders who have done the right thing and paid and used the card. I read that GM is the latest target.

Normally, the GM cardholder had better credit in the first place. Now they are cutting limits if they can on these folks - HSBC no longer wants a custoemr with a $10K credit limit who pays on time. Reduce him to $300 and he will leave.

Raise the good cardholder to 30% and he will leave.

Keep the Orchard cardholder who never complains that his payment is always picking up charges on $300 limits. That customer normally can’t get other credit - so he suffers and HSBC adds payment charges on top of payment charges.

Best Buy - we already know HSBC NEVER ALLOWS ANYONE TO GET 0% INTEREST. All HSBC has to say is they did not receive the payment on time. We know this stunt is done to everyone.

I think you will like this:
HSBC screws their own people too. When I was in their management training program, I was required to fly to Southern California. Even though I was on the “fast track” I had to pay my own expenses. Once I had to take a payday loan to get travel money to get to a management meeting. It took 2-3 months to get reimbursed.

REMEMBER: THEY ARE NOT AMERICAN. HONG KONG SHANGHAI BANK!
They still, rape, damage and upset everyone that does business with them.

CLOSE YOUR ACCOUNT. CUT THE CARD UP AND SEND IT with a paper that you cancelled the account upon receipt of the letter by HSBC. SEND IT CERTIFIED REGISTERED RECEIPT. Why? HSBC will argue you never cancelled.

CLIP IT UP and send it to their corporate office in Illinois. BE DONE WITH THEM.

Their tactics brought down the country.

Thanks. Have a nice day. You are the customer and the government is now doing the right thing now that Bush is gone.

Cheers.

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