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 […]

IB in New York said: “I just received a notice in the mail that effective 1/2/09, my interest rate on my HSBC Credit Card will be going up. I have made double and triple payments, and always on time. The customer service representative was rude and told me that everyone’s rates are going up. […]

MR in North Carolina said: “I purchased a jet ski with an introductory apr of 6.99%. I was late on only 1 payment. Here it is two years later and my apr has jumped to 18.99%. My payments have gone from $152/month to $330/month. To be honest, when I purchased the jet ski, […]

VR in Florida said: “I just received a notice of an interest rate increase of about 3% on my HSBC card after they jacked it up last year when I requested a reduced rate. (They said “NO”) I have made all payments on time for the past 5 years and make most payments […]

JL in Indiana said: “My grandson purchased a stereo for his car at Best Buy in early 2008. His payments were $19 per month. In May, he enlisted in the Marines and went to boot camp. I made payments for him. My grandson came back from […]

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 […]

CB in New York said: “My husband had an HSBC credit card. He was laid off for several months and we fell behind on payments. It was sold to Carmel Holdings who sold it to NCO Financial. I worked with them, paid them money I really couldn’t afford, and paid off the account in […]

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 […]