With cheap money why is HSBC raising credit card rates?
We wonder why HSBC is raising credit card interest rates for some customers. No information is given, other than “it was a business decision.” Others call it predatory lending - a term that HSBC Finance (formerly Household International) is very familiar with. The federal government lowered the interest rates to a point that inflation is substantially higher than what you get saving the cash. Banks and brokers are reaping the benefits of cheap money, yet HSBC is raising credit card interest rates and raking up large profits. We wonder why no one at the federal level ever questioned HSBC and HSBC Finance about this.
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[…] With cheap money why is HSBC raising credit card rates? We wonder why HSBC is raising credit card interest rates for some customers. No information is given, other than “it was a business decision… […]
[…] cheap money why is HSBC raising credit card rates? With cheap money why is HSBC raising credit card rates? We wonder why HSBC is raising credit card interest rates for some customers. No information isgiven, other than “it was a business decision.” Others call it predatory lending - a term that HSBC Finance (formerly Household International) is very familiar with. The federal government lowe… […]
[…] With cheap money why is HSBC raising credit card rates? With cheap money why is HSBC raising credit card rates? We wonder why HSBC is raising credit card interest rates for some customers. No information is given, other than “it was a business decision.” Others call it predatory lending - a term that HSBC Finance (formerly Household International) is very familiar with. The federal government lowe… Read the full post from Household HSBC Watch Tags: 2007 HSBC via Blogdigger blog search for credit+cards. […]