HSBC annual fee manipulation angers Indiana customer
KP in Indiana says: “I tried to close out my HSBC mastercard in April 2007 by paying off the balance of a card that had just expired and by NOT reactivating the new card I was sent in the mail. I was immediately charged a $69 annual fee, which kept the account open. I called to say that I did not reactivate and therefore was not interested in keeping the account open. I was transferred to a man who manipulated me into keeping the account open. He claimed it would be better for my credit and he would cut the annual fee down to $15 if I agreed, so I did. I soon received a letter stating that 50% of my annual fee had been discounted, so I owed about $35.
I refused to pay it and called back to close the account again. I was again harassed and yet another person tried to talk me into keeping the account open. I said NO and hung up. Anyway, the frustrating story of phone calls goes on and on. Since May, HSBC has continued to charge me late fees for not paying the $35 discounted annual fee, and they are now charging me interest as if all of these fees are “purchases”. I am still fighting this, but I will NOT be manipulated into paying fees that I do not owe, even if they attempt to make my credit look bad.”
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