A look back at 2005 shows HSBC Finance Corporation’s merchants for what they really are. Ever wonder why this bumbling group of merchants decided to align their customers with a predatory lender such as Household International? Through questionable credit card processing, first with Household International and now with HSBC Finance Corporation (they are the same thing) merchants decided a Household Bank credit card would be good for their customers.

The truth is most of these merchants need every dime they can get, even if Household and HSBC are willing to gnaw on the bones of the customer to give the merchants an extra dime or dollar. Here is the hit parade, part one:

CompUSA hit by the FTC – more –
Costco Disappoints – more -
Marks and Spencer 50 million short – more -
Guitar Center is Another Troubled Merchant – more -
Rhodes Furniture in trouble – more -
Saks posts another loss – more -
Saks still closing stores – more -
K-Mart faces SEC accusations – more -
GM Woes Hurt Chevy Fans – more -
Liz Claiborne clouds credit card issue – more –

And the list goes on. We’ve said it before and we shall say it again. HSBC Finance Corporation and their private label credit card program is for troubled merchants. If you have a credit card with one of the troubled merchants be aware that their business decisions are not much better than their decision to give you a credit card from a predatory lender with a long track record of shady practices. A list of merchants is shown on the bottom of most pages on this website.

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