“The people at HSBC customer service are rude and have an ‘I’m right’ mentality. I told them to investigate this further and they refused. They refuse to listen and keep up their mantra that because I was late, I have to pay them the 32.24 percent default rate. I am constantly getting offers in the mail from other cards. I told HSBC to cancel the card. “HSBC is sorry to lose your business”, they said. Tough. If HSBC were truly sorry they would listen to what the customer says and work with them. I will transfer the balance to another card at zero percent for balance transfers. Now HSBC will make zero dollars and lost a good customer. Plus they angered someone and I want everyone to know how rude they were and how they treated me. I will also send a letter to GM telling them I am buying a foreign car because of HSBC bank. I am very serious. HSBC angered the wrong person.”

Editor’s Note:  It is one thing to run the late payment scam on people since 1994, and quite another to increase the interest rate to 32.24 percent after charging a $39 late fee.  Most banks reverse the first late fee, but then there would be no excuse for raising the interest rate.  Analysts think HSBC Finance Corporation processes payments late specifically because they are bleeding red ink and need the money, but cases like this suggest the analysts are correct.  Please write to your state attorney general.