SA in Michigan said: “I have excellent credit and have had my GM card account for 10 years. My credit limit was $6500 until yesterday when I received a letter from HSBC stating that due to inactivity, my account credit limit was being reduced to $300. What a joke. I haven’t used my card in about 4 months and didn’t carry a balance, but I’ve used it for very big ticket purchases in the past in order to build GM points, and have carried a balance, but haven’t lately because of the stingy 14% APR on the account.
This is going to have an adverse effect on my credit report. I’m going to close the account and just be done with HSBC. On another note, I had another bad experience several years ago, when I was due to receive my new GM card (old one was expiring).
I received a letter instead, saying HSBC was not going to close my account and I would not be receiving a new card in the mail. No explanation, just a “we apologize.” I’ve never been late on a payment before, and had active charges on the card. Then, a couple of weeks later, I received my updated card with a letter of apology stating that due to a computer problem, my account had been inadvertently closed.
HSBC gave me a $20 credit to my account to say they were sorry. What is going on at HSBC? They are alienating people with excellent credit. I am closing my GM card and my two department store cards that are owned by HSBC. I will never again apply for a card that has anything to remotely do with HSBC. They’re a joke and shouldn’t be allowed to jerk people around like this.”
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