HSBC Horror Stories

TA in Michigan said: “I purchased items from ArtVan a year ago under a 1 year financing plan. I paid most of it off prior to the deadline. I was short $500 and called to put the remaining balance on my credit card and was stunned to find out that HSBC didn’t accept credit cards. This caused a hardship for me and I had to get a cash advance on the credit card to pay these people off. I looked at the monthly bill and I did not see that they do not accept credit cards until you turn the bill over and read all the information on the back and it is in the middle of the fine print.

I feel this is entrapment and a lot of folks would get stuck paying the finance charge because they don’t know HSBC doesn’t accept credit cards. These people are awful and they are rude. If credit cards not accepted was posted on the front of the bill I would have made other financial arrangements to make sure I had this covered. I am sure a lot of people get stuck this way and what an easy way for HSBC to make a lot of money. This company is awful and I will not shop at Art Van anymore.”

Editor’s Note: As this customer points out, HSBC does not accept balance transfers and credit cards. You must deposit to your own checking account first, and then you can release the money to HSBC. Of course that takes too long or is prohibited by your card company. Thus HSBC makes more money every time a customer assumes that HSBC is like other financial institutions. In reality HSBC probably is, but HSBC Finance (formerly Household International) is still a shady lender.