Household HSBC Watch

The deal includes about 3 million credit card accounts for Neiman Marcus and its Bergdorf Goodman stores. Much to the dismay of informed consumers, the sale is perceived by many as sacrificing customer data and credit scores to HSBC, as processing of accounts will actually be handled by HSBC Finance Corporation. That is the new name of the former leader in predatory lending well known for foreclosures, Household International. During the period from 1994 through 2004, as stated in Shea v Household, credit card payments were often credited after the due date, sometimes just one day after said date. “That resulted in late fees, overlimit fees, and cancelled “interest free” promotions” said consumer watchdog organization Household - HSBC Watch.