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 […]

According to the Star Telegram, three credit cards to avoid are First Premier Bank (the card’s first-year fees add up to $276), HSBC American DreamCard (which has a steep 15 percent to 22 percent APR) and New Millennium Visa or MasterCard (which has no grace period to repay purchases or cash advances before a finance […]

This is a perfect example of HSBC’s exportation of the Household International model of doing business. Credit card interest rates have been increased to as high as 50 percent in India. While proud of making a profit in developing nations HSBC is not alone. ICIC, Deutsche Bank, SBI and HSBC have either […]

Seen in the comments section of Market Watch: “Companies like HSBC should be run out of town. They are crooks. Try getting them on the phone about an error. I hope they go broke.” The article is titled “Wednesday’s Personal Finance stories” and the actual web page is titled “credit-card gripes grow, but […]

Our headlines screamed: “HSBC posts Boscov payment one day late” and “HSBC loses customer for Boscovs due to late payment processing” and “Boscovs and HSBC Forgets To Mail December Bill.” Now Boscov’s has filed for bankruptcy. The formula is simple: When a merchant signs a contract with HSBC for credit card […]

Once again HSBC attracts attention somewhere while trying to get away with something. This time it is not in the Unted States, where HSBC Finance seems to attract more attention than the rest of HSBC around the world put together. GRTU is accusing HSBC and BOV of “abusing their dominant market position and […]

A customer in India (Madhya Pradesh) thinks HSBC has hidden international currency conversion charges. The customer claims he cannot get a straight answer. Here is his report so you can decide for yourself:

“I purchased an item using my HSBC credit card in US dollars on the Internet. The seller turned out to be […]

A retired HSBC employee sent this note: “Good luck HSBC. California got Countrywide today for misleading loans. HSBC was exactly the same.” The statement addresses an area we have been studying for over a year. One of the Household - HSBC Watch team members has a Countrywide loan and has […]

We like developing nations, said HSBC. It is a matter of risk and reward, or as others see it, less risk because laws are less stringent. HSBC is not doing well in Korea, as the acquisition of KEB stalls. Charges of KEB Card stock price manipulation, links to the United States through […]

Once upon a time — back before the crying, wailing, and sobs of subprime lending — HSBC plc said the bank did not spend money on lobbying and attempts to influence legislation. Certainly William F. Aldinger spent money to do so in the United States, as his predaotry little company (Household International) was purchased […]