Household HSBC Watch

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 […]

A visitor mentioned that we forgot to update you on the K-Mart credit card. Looks like the “new Sears” finally dumped the predatory lender. HSBC had their name on the paperwork but the back end was Household International. There was no “world class” service either.

HOFFMAN ESTATES, Ill., Oct. 27 /PRNewswire/ — Sears Holdings […]

Labor sleeping with the enemy? — On his blog, Thomas Blumer (”bizzyblog“) makes an interesting point about two late-to-nevercomers to the anti-bankruptcy fight, the AFL-CIO and AARP: they both earn significant income — in the tens of millions of dollars annually — from co-branded credit cards, and thus may have faced internal or external […]

Household - HSBC Watch is writing “A Look Back at Merchants in 2005″ - an analysis of how well HSBC Finance Corp merchants are doing now that they aligned their credit card, and their customers, with former predatory lender Household International (HSBC Finance Corp). The bottom line is these poor decision makers are struggling, […]

November 23, 2005 — Eight senior executives of embattled retailer Saks Inc., including the chief executive and two directors, have dumped more than $37 million of the company’s stock in recent days, according to regulatory filings. The insider sales by a broad swath of Saks’ management team, coming days after the company reported […]

Why did Liz Claiborne sign a credit card deal with former predatory lender Household International? Are they following the expansion example of non-performing Saks, another Household International (now HSBC) merchant? Here’s the answer:

Liz Claiborne launches bid for J. Jill
Fri Nov 18, 2005 12:19 PM ET
NEW YORK (Reuters) - Liz Claiborne Inc.
on Friday […]

Saks and Bon-Ton both decided to use HSBC (Household International) to finance their in-store credit cards. HSBC Watch speculated almost two years ago that Saks was a troubled merchant. “Often when a merchant aligns themselves with a predatory lender they need every dime of profit, no matter how they get it. Saks […]

A new dedicated forum for HSBC NV was created on October 17, 2005 within the HSBC Watch forums. Many consumer complaints indicate HSBC NV is now on their credit reports as identity theft or credit card fraud. Although many reports about HSBC NV are found by searching our website, the problem with HSBC […]

All California Good Guys stores close, while home entertainment products and expertise expand within CompUSA locations. In response to consumer buying preferences and demands, Good Guys is closing the doors to its 46 locations. n According to GoodGuys.com “After more than 30 years of providing the best in high-end entertainment products, along with unmatched […]

CompUSA’s new CompUSA and Good Guys Megastores open Friday in several cities across the country. In December 2003, Dallas-based CompUSA bought Good Guys, an Alameda, Calif.-based specialty retailer of high-end entertainment electronics.

Consumer advocates at HSBC Watch say financing for CompUSA and the former Goodguys stores was originally through predatory lender Household International, now […]