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GMCard/HSBC / credit card fraud

1 OH, United States Review updated:

I have had a General Motors Mastercard for about 20 years. My interest rates have been average, and I have never defaulted on the card. Indeed I usually pay MORE than the minimum balance, paying in full when I can.

Two months ago the company unilaterally cut my credit line in half. I didn't complain. However, this month the company increased the interest rate on the card to 30.99 percent! This is outrageous! Further, it falls on the heels of the government bailing out General Motors AND GMAC financing!

I am filing complaints with all regulatory agencies I can find.

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  • Mi
      29th of Jun, 2009
    0 Votes

    Well, they halved my credit limit as well, but if you don't like it there's not much you can do about it. It's not GM that did it, it's HSBC. Blame the credit crisis, not the car manufacturer bail-out. 30% is insane, and I would certainly cancel my card if they did that to me.

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