Household HSBC Watch

In Sri Lanka HSBC credit card customers are far ahead of those in the United States. When one reads our “Live Complaints” section you see that Americans who have store credit cards cannot pay their bill at the store. A store credit card is, for instance, a Best Buy or Menards or Costco credit card. Apparently HSBC Finance - the old predatory Household International - makes too much money from “late payments” that are not really late.

In other parts of the world HSBC seems willing to treat card holders with more professionalism and dignity. Here is the Sri Lanka story:

HSBC recently signed an agreement with Singer Sri Lanka, where HSBC credit card holders can pay their credit card bills at 162 selected Singer outlets such as Singer PLUS, Modern Homes, Singer Mega and Sisil. These outlets are well spread around the Western, Southern, Central and Sabaragamuwa provinces of Sri Lanka, covering many regions, HSBC said “With the completion of this deal HSBC has expanded their network, ensuring that customers can make their credit card payments at their own convenience. This is in addition to the 14 HSBC branches, 39 post offices, 40 Lanka Bell outlets, 104 Cargills outlets and approximately 150 Commercial Bank branches nationwide, where they can also make their payments,” the bank said.

In the United States if you have a Best Buy card you cannot make your credit card payment at Best Buy. If you wait until the last week before payment is due, you either pay for the “convenience” of payment by phone ($15) or a late fee ($39) - go figure.