Household HSBC Watch

HSBC needs every dime, dollar, pound, and pence they can make. It appears as though HSBC is saving money by forgetting to date their credit card offers, but you can be the judge: “Last year, I applied for a Best Buy RewardZone MasterCard, for which I was told, and the paperwork confirmed, that […]

With the United States in a recession the double-speak is interesting. Some call the recession of 2000-2001 a “mini-recession.” Now HSBC’s Douglas Flint has a “technical recession.” HSBC finance director Douglas Flint said: “The issue now is the US slowdown and whether it enters a technical recession, and what that does to […]

This excerpt from an article published in Bahrain tells exactly where HSBC wants to be, but does not address why HSBC Auto Finance shut down in the U.S. “Euro Motors, the exclusive importer of BMW cars in Bahrain, has signed a financing partnership with HSBC to provide BMW and HSBC customers with financial services […]

HSBC is heavily exposed to credit card assets. In that light, it is similar to Capital One, which earlier this year slashed its earnings estimates by over 20 percent due to high default rates and building losses. We see potential for a negative impact to HSBC’s earnings from this exposure as well. HSBC credit […]

We received this information today and we thank the submitter. They know who they are. “As a former long time HSBC employee and manager, I continue to hear a great deal of internal information from sources in the know. I’ve had 3 separate and unrelated sources tell me since Monday this week that […]

Adjustable rates will reset this summer and fall. The timing reflects the height of subprime lending in the summers of 2005 and 2006, when many borrowers secured loans scheduled to adjust in two or three years. For many, an adjustment means their interest rate will go up two to three percentage points. HSBC […]

Recently we received complaints about many merchant credit cards managed by HSBC. In fact we receive reports weekly, but we wonder about HSBC Finance and the HSBC technology. One customer said “I went on line two days before my bill was due to pay it and was told that I had to pay […]

AK in Oregon sent this op-ed piece. We are publishing it here instead of in our complaints blog:
“HSBC- predatory lenders who slam insurance, offer over market rates and fees, and treat employees with disrespect.

When I started working at HFC I was just out of college. I was excited to have a job […]

Neiman Marcus has settled a lawsuit with HSBC Finance, the operational unit of HSBC formerly known as Household International. The lawsuit pertained to private label credit cards - the cards issued by HSBC Finance (HSBC NV) containing the Neiman Marcus name instead of HSBC’s name. Part of HSBC’s private label credit card agreements […]

Cassandra was the young and beautiful daughter of Priam, the last king of Troy. Apollo bestowed upon Cassandra a special gift—the ability to see the future. The problem with the gift was she could see the future but could not do anything about it. Analysts and economists said for many years that […]