HSBC Horror Stories

TP in Ohio said: “We have been customers in good standing with our GM card since 03/02. We had one late payment and our interest rate jumped from 14.9% to 32% PLUS a $39 late fee. We called and asked for some leniency. We were told no, and that our rate would not be adjusted for 6 months. We called back 6 months later asking for a rate decrease. We have since been jumping through hoops to try and get this matter resolved. HSBC promised to drop our rate to 14% but it would take 2 billing cycles to process. That was 4 months ago. I have called regularly-and documented each call- to check on the rate status. We keep getting the same lines from each customer service rep.

After hearing, ” Your request has been submitted to our review panel and will be evaulated. It generally takes 1-2 billing cycles to process”, I had enough. I advised HSBC that I was contacting the Ohio Attorney General to file a complaint. I have filed my complaint and quickly received notice from their Attorney General’s office that the matter has been forwarded for review. EVERYONE should file a complaint against HSBC for fraud and deceptive practices. Once this matter is cleared up and I receive credit for the excessive interest charges, I am closing this account. No amount of GM rebates is worth this hassle.”