HSBC Credit Card / hsbc credit card reduces credit limit and raises interst rates of good customers
HSBC credit card holders...beware! I just received a letter from HSBC informing me my credit limit had been reduced...almost in half. "No Way!" I thought to myself. I have been an outstanding customer for over 5 years now, never a day late with a payment, never over the limit and I have good credit. So I called HSBC thinking this must be a mistake. NO! They informed me that even thought I was a customer who had never had a late payment that they were completing a loss migration review on its accounts and even those with outstanding accounts are receiving credit reductions and interst rate increase!
To anyone looking for a credit card company...DO NOT CHOOSE HSBC! Fortunately I have the money to pay this credit card off and close this account. I will find another credit card company that will appreciate my good credit and outstanding payment history.
For now...I will continue to write as many complaints as possible in regards to the credit card practices of HSBC.
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