HSBC GM Card complaint from Texas - rate jumps to 31 percent
GB in Texas says: “I’ll make this as short as possible. Applied for a 0% balance transfer to a GM Flexcard, never heard a word. In the mean time I had the transfer performed by Capital One at 0%. Two months later I receive a bill from HSBC, showing that I missed my first payment and my intrest rate showed as 9.99%, and $78 in late charges.I had never received anything from HSBC, I did not know that they had paid the balance on the card that I had Capital One pay off two months earlier. Now I had a credit balance on the Bank America card, that had now been paid by Capitol One and HSBC.
I sent the payments to HSBC, and two weeks later sent another payment to get ahead on the payments, to prevent anymore BS. The next statement had 3 $39 late charges and both of the payments credited. I emailed them and showed all my payments with their reference numbers, and proved that I had made no late payments. The next statement removed the late charges, and boosted my interest rate to 31.49%. My payment jumped to $271.
I paid the payment, and sent an email asking why my interest rate was 31.49%. I received no response. I just received my new bill with the same interest rate of 31.49% bit, now my payment is $337, with no explanation. I now owe almost the original amount of the transfer. If you question them about anything they punish you, the next bill you receive will have some new BS piled on it. I cannot believe that GM would allow a bunch of sleeze balls like HSBC handle a credit card with their name on it. I have always bouth GM, but never again!”
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