The national “do not call” list is welcomed by consumers and almost eliminates annoying interruptions at dinner. But Household International, and in one case their credit card merchant CompUSA fought consumer activists favoring “do not call” legislation in the early formative years. Examples:
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Category: 05 All Articles, 05 GM Card - GM, 05 Private Label
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Still reeling from Household International’s GM Card data loss, HSBC must now contend with Bank of America’s acquisition of MBNA - the largest credit card operation in North America. Bank of America bought MBNA while HSBC is still trying to absorb their purchase of former disgraced predatory lender Household International. There is no comparison between MBNA and Household International, since MBNA did not hve a predatory and borderline illegal mortgage lending business. Meanwhile in the UK, HSBC came in behind Egg in mortgage satisfaction. With high fuel costs and less consumer spending it may prove to be a long summer for the once proud HSBC worldwide organization.
The 10 largest general purpose credit-card issuers ranked by market share at the end of 2004:
Bank of America/MBNA - 20.2%
JPMorgan Chase - 19.6%
Citigroup Inc. - 16.4%
American Express - 9.0%
Capital One - 7.5%
Discover - 6.5%
HSBC Holdings Plc - 3.2%
Providian (Wash. Mutual) - 2.6%
Wells Fargo - 1.9%
U.S. Bancorp - 1.5%
Category: 05 All Articles, 05 GM Card - GM, 05 HSBC - U.S.
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June 20, 2005 — Lately the trend in reports to Household – HSBC Watch has been “HSBC NV is on my credit report.” People are asking “What is this company and why are they checking my credit?” We can tell them the history of Household’s acquisition by HSBC, but we can’t tell why HSBC NV is checking their credit.
Category: 05 All Articles, 05 GM Card - GM
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To watch General Motors go from the heyday of muscles cars in the 1960’s to the troubled company they are now hurts diehard General Motors fans. Consumer advocates wrote to GM when predatory lender Household Retail Services was contracted to handle the GM credit card. GM didn’t care then, but they do care now. How bad off is GM? If they sell their mortgage business to HSBC (Household International) it will be a sure sign that they are dying. Has GM learned anything about aligning their customers with predators? Time will tell.
Category: 05 All Articles, 05 GM Card - GM
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