HSBC Customer Thinks They Are Being Swindled
AH said via email today: ” I have a real problem with HSB Finance. I have been charged over $600.00 for fees and penalties on this account. When I requested a written statement of the $600.00 I was told that they could send it to me but I would be charged $5.00 per bill, and they did not know how much that would be.
I was also charged a $39.00 penalty for paying my bill ahead of time. I have paid a month in advance, and had not missed a payment. It seems to me that I am being swindled. If I pay in advance, I was told, I’d have to make another payment within the “billing cycle” although I was not deliquent.”
Editor’s Note: This evening (3-7-2007) Fox News ran a feature describing how Congress is investigating major credit card banks in the United States, and relative high fees. One man interviewed said his credit card balance went from $3000 to over $10,000 as a result of abuse. Please contact your elected representatives and your state attorney general about this issue.
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We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.