Household HSBC Watch

Another HSBC merchant is going out of busiiness. CompUSA, the computer retailer that Mexican billionaire Carlos Slim owned since 2000, will shut its doors after 23 years, succumbing to competition from Best Buy Co. and Wal-Mart Stores Inc. On the CompUSA website it says “Same as Cash offer on approved purchases made on […]

The announcement that CompUSA is closing 126 stores signals another troubled merchant in the HSBC credit card private label program. HSBC Finance Corporation, which is also involved with troubled sub-prime mortgages, provides the CompUSA credit card. As customers complain about poor credit card servicing some experts maintain HSBC is responsible for CompUSA customer […]

BB said: ” I purchased an item with 18 months “same as cash” plan from CompUSA on August 12. My understanding of “same as cash” is you have a certain amount of time to pay the balance before accrued interest charges are added to your account. You also can pay it off at any […]

Yesterday at Spring VON 2006, CompUSA announced its partnership with Bandwidth.com and Sylantro Systems to offer what it called the first full-featured hosted VoIP service for small and medium-sized businesses in the retail industry. Target audiences will be businesses in need of 10 to 200 lines. Silly, because no matter how much […]

NEW YORK - With retail sales proving more sluggish than expected — and concerns that home heating bills will crimp sales even further — many retailers are finding the need to be more creative this winter.

Household International, known nationwide for high interest rates and predatory lending and now owned by HSBC, can help […]

A Washington man is charged with racking up more than $75,000 in fraudulent charges over the past year by applying for and using credit cards for businesses he claimed to work for. The U.S. Attorney’s Office says the man — Shane Michael Renecker, 33, used the credit cards to buy computers and other items […]

Private label credit cards made their way to India as part of HSBC’s ‘Household Model’. In the United States many customers are fimiliar with cards such as the Best Buy card, or perhaps their CompUSA credit card. Regulators, on the other hand, are familiar with Shea v Household where Household International, and later […]

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 […]

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 […]