Household HSBC Watch

Neiman Marcus is facing off with HSBC Finance - formerly known as predatory lender Household International. What do Neiman Marcus customers have in common with subprime, predatory lending, and late application of payments? Absolutely nothing, but Neiman Marcus selected HSBC Finance as their private label credit card processor. We questioned the move […]

Saks reported their quarterly results, and noted in their forward looking statements was this jewel: “…successful operation of the Company’s proprietary credit card strategic alliance with HSBC Bank Nevada, N.A”. The relationship with HSBC Bank Nevada, formerly Household International, was but one of many risks listed in Saks’ forward looking statements. […]

Payments over the Visa and MasterCard networks involve at least five parties. When a cardholder presents a credit card to a merchant for payment, the merchant swipes the card and transmits the information encoded on the magnetic strip on the back of the card to an acquiring bank (or, sometimes, a third party processor). This […]

April 11, 2006–For the second time within a year, American IronHorse has inked a major financing deal aimed at empowering dealers and their customers to own more American IronHorse bikes. The company today introduced its first large retail financing package through a new agreement with HSBC-North America’s Retail Services business. The package offers special financing […]

Boscov`s Department Stores, based in Reading, Pa., has agreed that HSBC-North America`s retail services business will run its credit program.

BDS customers will continue to accrue purchase points and enjoy other features of their existing Boscov cards, BDS said Thursday. BDS is the largest full-line, family-owned independent department store in the country, operating 40 stores in […]

August 2, 2005 – HSBC - North America’s retail services business has renewed its relationship with CompUSA to manage the company’s private label credit card program. CompUSA is a leading technology retailer in the United States and Puerto Rico. “When it comes to unleashing the power of technology, our customers expect flexible buying options […]

Effective Date March 9, 2004: GSI-Chelsea Solutions, Inc. (”GSI”) operates the web site, www.lizclaiborne.com, pursuant to agreements with LCI Holdings, Inc. (”Liz”). Liz Claiborne recently signed on board with questionable credit card processor Household International, now operating as HSBC Finance Corporation. But their web site allows you to open an account […]

Saks Fifth Avenue Enterprises is implementing the Customer Relationship Management suite of applications from Teradata, a division of NCR, as part of its commitment to exceed the demands of its customers and extend their loyalty. “Saks also has a relationship with HSBC’s former predatory lender Household International, now called HSBC Finance Corporation. […]

When merchants outsource or sell their credit card receivables many factors should be considered. Clarity of policies, timely statements, timely crediting of payments, a functional online payment website, and the ability of the credit card processor to insure credability and confidence are prime considereations. Household Retail Services, now called HSBC Retail Services, fails […]

June 17, 2005 — Nautilus Inc., maker of Stairmaster and Bowflex fitness equipment, has agreed to buy a fitness clothing maker called Pearl iZumi USA for $74 million. Pearl is based in Broomfield, Colo., and employs 130 people, according to a press release. “The question is whether Nautilus will sign another contract with predatory […]