HSBC Horror Stories

RM said this about HSBC credit cards: “Looks like Black November for HSBC card holders. On Nov 13 2008 I also received a change of terms stating that my rate was going to increase from 8.24 to 14.99 effective Jan 2009. I have never been late on a payment on any debt in […]

SR in Maryland said: “Watch your bills closely from HSBC Direct Merchants Bank, Nevada. I noticed on my current bill that they had recorded my payment for the month as _0.00. I had sent them a payment, as I always do the same time each month, on the 5th. Then, I […]

PL in New Mexico said: “While stationed in Utah Feb 2007 my wife and I purchased two Suzuki ATV’s they were financed through HSBC Suzuki. We thought everything was fine until in June 2007 I received a phone call stating I owed $298.00 for late fees. I asked how could my payments be late […]

PL in West Virginia said: “We purchased a new vehichle in September 2007. HSBC is the place that approved us (we have bad credit) the car dealer gave us the payment amt per month. We should not have agreed to the loan but we were just glad to get a loan we […]

DL in Canada said: “Not in the States so not sure this will be of interest, but have dealt with what was HFC for over ten years and noticed a change for the worse in last year or so. Thank heavens my account is nearly paid off, but I missed one payment and […]

MR in Arizona said this informative copy of his long letter: September 13, 2008
Arizona Department of Financial Institutions and all in CC list.
2910 North 44th Street, Suite 310
Phoenix, Arizona 85018

RE: Loan number: (redacted) HFC-HSBC
• Predatory Lending Practices
• Misrepresentation of lending […]

ET in Virginia said: “HSBC’s HFC automatically deducted TWO mortgage payments at one time sending our bank account into serious arrears. It drained our overdraft protectection account and cost us over $600 in overdraft fees. They only reimbursed $140. They caused our car note to be returned and numerous other serious […]

DH in California said: “Here are three different bad experiences with the Best Buy credit card, serviced by HSBC Retail Services:

1. I made a purchase at Best Buy with a promotional “same-as-cash” three-month no-interest plan. This plan was due to expire on a Friday. I attempted to make the payment online the day before […]