RK in Kentucky said: “After having an HSBC credit card for several years, my interest rate was just raised to 26.990%.

I have not missed a payment. I have not gone overlimit. I have not made a late payment.

I called to find the exact details as promised in the notice of rate change. I was told it was a “business decision“.

Yes, I only have fair credit and too much debt. But I’ve been abiding by the credit cards terms. Finally, I was at a place where I could begin to add a few more dollars to my payments and reduce my debt. My last payment of $50 resulted in $8 off principle. It is very discouraging.

It is not fair and it is just plain wrong.”

Related posts:

1. Higher rate means no payoff on HSBC credit cards
2. HSBC Raises APR on Credit Cards, Change of Terms in April 07
3. About 2009 HSBC credit card interest rate increase
4. The fine print of zero percent HSBC credit cards
5. HSBC Plus Credit Card rate increase angers Californian