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 […]
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 […]
When news rules are needed or suggested, cause and effect implies abuses prompted the action. At HSBC Finance things could not get much worse for HSBC, and always seem to get worse for customers. That may change as new credit card rules have been proposed. Under the plan, banks could increase […]
In January HSBC had a problem with transactions when their system went down and credit card purchases were disabled. It happened again over the weekend. Angry retailers have launched a tirade against HSBC after its e-payments system fell over on Friday and stayed down for the whole weekend. Retailers were unable […]
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 Guardian reported on Sunday, one day before HSBC is due to release half-year results , that HSBC’s unsecured portfolio is experiencing bad debt. Analysts imply that subprime mortgage blues have spread to other parts of HSBC. Antony Broadbent, banking analyst at Sanford Bernstein, expects the bank to warn that there has been […]
Sharon mentions fraudulent credit insurance in this report: I am being billed $106 for credit insurance that I did not authorize, yet HSBC is saying I did when I applied for a Gardner White Furniture credit card. According to HSBC, the purchases were made in June & August 2005, yet I am just […]
NEW YORK (Reuters) - The chief of HSBC Holdings’s U.S. retail banking unit said on Monday he would prefer to expand existing businesses, including branches, rather than pay elevated market prices to grow by acquisition.
Martin Glynn, who runs HSBC Bank USA, also said his unit is faring about as well as big U.S. banks […]
HSBC Bank Nevada, N.A. issues Neiman Marcus and the Bergdorf Goodman private label credit cards, each of which allows you to charge purchases from The Neiman Marcus Group, Inc. (“Neiman Marcus Group”), which includes Bergdorf Goodman, Inc., and their various affiliated companies. These companies have been added to the merchants list at Household- HSBC […]
HSBC - North America’s retail services business today announced it has formed a strategic alliance with electronic payment network operator Debitman Card, Inc. to accelerate growth in Debitman’s debit card platform, known as “The Retailer’s Network.”
About Debitman
Debitman created and operates the Retailer’s Network, the only national, interoperable electronic payment network for retailer-issued debit cards. Founded […]
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An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
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