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 are the same thing) merchants decided a Household Bank credit card would be good for their customers.
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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.
Category: 05 All Articles, 05 Private Label, 05 Retail Services
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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, which is why they went with a predatory lender to begin with. Example:
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:
Slower growth, legal changes and a shift in attitudes to debt have led to a sharp rise in personal insolvencies, according to Department of Trade and Industry figures published yesterday. There were 17,562 personal insolvencies in England and Wales in the three months to September -a 46 per cent rise compared with the same quarter last year.
