Household HSBC Watch

HSBC Finance Corporation’s card and retail services business has introduced a credit card that gives consumers the opportunity to use earned rewards to make a contribution to a variety of environmental causes. It does not take long to realize that 70 percent consumer dissatisfaction with HSBC credit cards (see our poll) indicates an overall problem inherent to HSBC Finance. The division of HSBC was formerly known as predatory lender Household International. EcoSmart is a cute name, but one would be smart to stay away from any credit card by HSBC.

We echo complaints about HSBC service received from around the world. The card may be called EcoSmart, but it would be stupid to get one of these HSBC Mastercards until certain issues are resolved. Such issues include the ability to properly apply your payment in a timely manner. It seems like customers pay all of their bills at the same time (perhaps on payday) and all payments are received an processed in a timely manner EXCEPT payments sent to HSBC. You can see various complaints about this problem in our blog.

It is your credit, your credit report, and your financial well-being. Why play with fire? Leave this new card alone until HSBC gets things under control.