PH in Virginia said: “I have always had an $8000.00 limit reduced to $300.00 with no notification. This placed me over the limit. This practice seems like illegal entrapment and they should be placed in jail. I’m sure they will want our tax dollars to bail them out. I think tax payers should get to vote. NO MONEY FOR HSBC!Criminals of the worst sort!”

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SM in Washington said: “I have always paid my credit card off monthly. I just got a statement yesterday and HSBC cut my credit down to $550.00 and I was $150 over my account. I was not aware they reduced it. HSBC is stealing from honest people and racking up interest when they should not. I am cutting up this card as of today.”

NW in Virginia said: “I have a Master Card credit card account with HSBC Bank of Nevada, NA. Last week I discovered by accessing my account online that HSBC lowered my credit limit from $5,500 to $450 (a 92% reduction), to just $38 above my balance. I received no prior correspondence from HSBC about this change in terms. I thought HSBC was required by law to give me at least 15 days written notice of this change in terms. This unscrupulous action could have caused me to go over my new credit limit and incur an over-the-limit fee. I called HSBC and was told the reason for the reduced credit limit was because of the economic circumstances. I was offered no other information.

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DB in Connecticutt said: “I have had a Mastercard with what was originally Household Bank since 2000 or earlier. Due to a bankruptcy from medical bills in 1996, it was difficult for some years to get a card from a better lender. However I have been an excellent customer and they have raised my credit limit many times – I have managed to reduce my debt to only 30% of the limit as well. Nevertheless, every year my interest rate gets higher. At this point it is at 21.9 with a $79 annual fee. Written and telephone requests for a better deal are just bluntly refused.

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CF in Massachusetts said: “I just opened up my online statement and was horrified to see that my available line of credit was reduced 400%. I called customer service and got a scripted supervisor claiming that upper management reviewed all the accounts and that almost all consumers had their credit line reduced irregardless of past payment history and lack of risk. The supervisor did not have a suitable answer when I asked her how this would effect my credit score.

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