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HSBC Credit Card / hsbc credit card reduces credit limit and raises interst rates of good customers

1 United States Review updated:

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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Comments

  • Va
      12th of Nov, 2007
    0 Votes
    HSBC Credit Card - Do not use HSBC credit card!
    United States
    www.hsbccreditcard.com

    I am a HSBC credit card user. Within 2 years with the credit card, I have to call around 5 times to ask for financial charges reverse and late charge reverse.

    This last time, my statement due date used to be 29th of the month. It was set back to 24th without any advance notification. I sent out the payment on Oct 15th. HSBC credit card did not process the payment until Oct 26th. Therefore, I was charged $200+ financial charges.

    When I called, the first person could not help me. I was transferred to his supervisor Jose, who could not help me. While I asked to be transfer to his supervisor, my line was held and then cut off. I called back; the third person could not help me. The forth person, a supervisor, Sally, told me that the financial charges will not be waived when I asked to speak to her supervisor. She did not ever transfer me to her supervisor. I cancelled my card right at the spot.

    I am using chase, Amex, AAA, and other credit cards. No other credit card company ever gives me more problems than HSBC. I read in consumer report that it had the tendency to process consumer payment. Their rating is low. I just become another victim. Do not use HSBC credit card. The company is not professional and reasonable.

  • Bk
      11th of Dec, 2007
    0 Votes
    HSBC Credit Card - Wrong practices!
    hsbc
    India
    hsbc.co.in

    Holding HSBC Gold cards- Not sending statement to the customers and charge for late payment / finance charges. Back office operation is worst.

    1. Inquire about outstanding amount on 3rd December which was 171 .96 INR which was also wrong charge by Bank for late payment subsequently reverse on 8/12 so nothing was due on 4th December, 07.
    2. Received email statement on 11/12/2017 with the late payment charges and amount due on 31/12/2017.

  • Ka
      17th of Feb, 2008
    0 Votes
    HSBC Credit Card - late payment to be ducted
    India

    Date :17th Feb.2017

    From
    Kantamsetti Ashok
    Door No.39-18-98/2
    (Upstairs)
    Madhavadhara
    Visakhapatnam – 530 017.

    To
    Mr K C Mahesh
    Manager
    Credit Card Services
    HSBC 610, Ambai House
    Anna salai
    CHENNAI – 600 036.


    Dear Sir


    Sub : LATE PAYMENT TO BE DUCTED

    Ref: My HSBC Card No.4476921205089794


    I am using the Credit card services since 1997. Every month I have remitted due amount before the due date.. With reference to your statement for the period 3rd Jan. to 2nd Feb.2017, I have surprised to charge Rs.400/- (Rupees Four Hundred only) for late payment. In Jan.2017 my payment due is 24th Jan., but I have remitted Rs.1,000/-(Rupees One Thousand on 21.1.2017). How can you charge late payment.

    Please look into the matter and credit the amount Rs.400/- at the earliest and oblige. Also inform the actual due amount, I have to clear the amount as early as possible.

    Awaiting for your reply.

    Thanking you

    Yours faithfully



    (K.ASHOK)

  • An
      12th of Mar, 2008
    0 Votes
    HSBC Credit Card - HSBC credit card issue!
    HSBC Bank
    India
    hsbc.co.in

    I write to inform you that the amount mentioned by you in your letter has not arisen out of my purchase and non-payment but for the debits of the annual renewal fees charged by you. Please note that at the time of offering the card your marketing team had given me to understand that the card given to me was life time free of charges. However, to my surprise I received a statement from your bank wherein you had charged annual renewal fees.This has been happening every month and outstanding is accumulated with interest. I have cleared all my outstanding and have communicated twice for the closure of my Credit card Letter dated 22-11-2017 HSBC Card Products Division 52/60 Mahatma Gandhi Road, Post Bag 128 Mumbari 400 001 India. The bank didn't have the courtesy to acknowledge the request made.

    Immediately I had communicated my decision to your executives over phone who assured me of doing the needful. Please also note that I didn't even received your card at all. Inspite of this, i have contacted the customer service several times, sending letters to the bank, I am still getting the Statements every month which disturbing my peace. This is going to be the final letter to them and if there's no response from the bank and i have to register a complaint with RBI in this regard.

    PLSSS... Do not go For HSBC Cards... They Sucks.

  • Ar
      13th of Mar, 2008
    0 Votes

    Dear Sir,

    i have received the hsbc credit card 20 days back, if i remember perfectly.your marketing people have droped into my office disguised as MBA graduates saying the purpose of visit is surevy pertaining to project their work.Despite of over laod in my work i have given time for them where they took my endorsement and true copies of testmonials after few days i came to know that those are from hsbc bank after receiving a call from your call center.As if now iam not interersted in using the credit card since i cantain other banking credit cards.So i want to terminate the credit card the procedure of terminating the credit card can be mail to my mail id.regards

  • Ca
      30th of Apr, 2008
    0 Votes
    HSBC Credit Card - ONLY 1 DAY MY CARD ACTIVE AFTER THAT HSBC CLOSE MY ACCOUNT WITHOUT NOTIFICATION
    Philadelphia
    Pennsylvania
    United States

    Don't use HSBC CREDIT CARD . They can close your account without notification . I have 1 card from HSBC Yesterday I receive card And I call to active . After that my card is already active. But today they close my account without notificaton. I like use the other credit card company like CITI OR AMEX AND CAPITAL ONE. BE CARE FULL TO USE HSBC.

  • Ve
      7th of May, 2008
    0 Votes
    HSBC Credit Card - SMS for settled and cancelled card
    HSBC
    India
    www.hsbc.co.in

    I was holding a HSBC credit card.The credit card has been settled and cancelled in the year 2017. At the same time the HSBC also issued a letter saying the card has been settled.
    After cancelling the card in year 2017, they started sending SMSs mentioned HSBC Prestatement alert on my Mobile with particular Outstanding amount from September 2017 onwards. And these SMSs are sent randomly, sometimes per month or once in three months.
    I thought by mistake they might have sent it and hence I neglected them. But the outstanding amount they are sending is increasing from message to message with interest added.
    When I spoke to HSBC officers they have asked me to talk to concerned department by giving their numbers. When I talk to that number they again gave me one more number to talk to. This way they were transferring the issue from one person to other person by giving five such numbers which was disgusting.
    Who can keep the details of a credit card which has been closed years back ? This is ridiculous.
    And one more info. is when I try to call the HSBC call center, this number is not at all active in their systems.

    I feel HSBC is junkest bank I ever seen. The service is hopeless.
    Till now I did not get any answer from HSBC.

  • Ha
      4th of Aug, 2008
    0 Votes

    i apply new credit card but reply coming lending vaerification norm sir no bady came my lending place
    i request you pl check my ref: no.200820001126
    i am waiting

  • Av
      5th of Aug, 2008
    0 Votes

    I am apply HSBC card, my ref number is 200821590620, when I will get HSBC cradit card.

  • Av
      5th of Aug, 2008
    0 Votes

    I am apply HSBC cradit card, My ref:number is200821590620, when I will get HSBC cradit card ?

  • Av
      5th of Aug, 2008
    0 Votes

    I am apply HSBC cradit card, My ref: number is 200821590620, when I will get HSBC cradit card?

  • Av
      5th of Aug, 2008
    0 Votes

    My ref number is 200821590620,

  • Ta
      7th of Aug, 2008
    0 Votes
    HSBC Credit Card - NON RECEIPT OF CREDIT CARD & SPELLING MISTAKE IN FIRST NAME
    TAPAN KUMAR GAYEN
    India

    Inspite of repeated requests you are not taking any interest to cancel my credit card which is yet to be received by me. Although I have not got the credit card where my name has been mis-spelt I am getting statement of accounts regularly showing a credit balance of Rs.100.00. Please arrange to cancel my credit card forthwith and stop issuing statement of account without further delay.

    Your early action will highly be appreciated.

    I solicit your kind co-operation in the matter

  • Am
      25th of Aug, 2008
    0 Votes

    Date: August 25, 2017


    From:

    Mr. Amit Kant Dhingra
    M-15/2, DLF City-II,
    Gurgaon Haryana 122002
    Email: amit.[protected]@akdcompanies.com


    TO:

    Mr K C Mahesh
    Manager
    Credit Card Services
    HSBC 610, Ambai House
    Anna salai
    CHENNAI – 600036


    Dear Sir,


    Sub : LATE PAYMENT TO BE DUCTED

    Ref: My HSBC Card No.5548513502716111


    I am using the Credit card services. Every month I have remitted due amount before the due date.. With reference to your statement for the period 3rd July to 2nd August, I have surprised to charge Rs.400/- (Rupees Four Hundred only)plus service tax for late payment and Rs.548/- (Rupees Five hundred forty eight only) plus service tax for finance charges. In last statement my payment due is 24th July., but I have remitted Rs.8661/-(Rupees eight Thousand six hundred sixty one) with cheque no. 139389 on July 24th 2017. How can you charge late payment and finance charges.

    Please look into the matter and credit the amount Rs.1065/- at the earliest and oblige.

    Awaiting for your reply.

    Thanking you

    Yours faithfully

    (Amit Kant Dhingra)

  • Di
      15th of Sep, 2008
    0 Votes
    HSBC Credit Card - Late charges
    HSBC
    Dallas
    United States
    Phone: 214-575-4280

    I bought a T.V from Bestbuy about 2 years ago. I got the 52 inch T.V and signed up for credit payments with Bestbuy which used HSBC credit services. A couple of months later, my house got buglarzed and my TV was stolen about many things. Since then i have been struggling to make payments on everything but always made sure to make my payments on time and as soon as i can.

    On sunday i made a payment early in the day to HSBC for my credit card payments. The website says that payment will be posted on the next business day as long as i pay before 12pm eastern time. My payment was due that moday on 9/8. The payment instead got posted on 9/9 tuesday, and HSBC took the time to send a thank you note to my email that they had never done before. I knew something was up. they charged me a late fee of 35 dollars.

    I called their customer service and their supervisor refused to help me solve this issue. You know what they say 'what goes around comes around' this company is a wicked set-up. I have been advising everyone i know that wants to buy on credit from Bestbuy or sign up with the credit card company to just run. HSBC shows no grace or mercy and wants people to suffer. I have been so mad in my life that i would get 'robbed' by a bank too.

  • Xr
      5th of Feb, 2009
    0 Votes

    After dealing with HSBC, would highly recommend never using this organization for any type of account, they are extremely unwilling to work out a win/win situation with their customers. Very unwilling to work with their customers to correct problems, companies like these must not have any problems with staying in business since they do not value their customers, hope everyone at their company is secure with their job, this type of customer service will not keep customers long.

    Worked with merchant, and two other lending companies to try to work out the situation with HSBC, they would not have anything to do with rectifying the situation. Other financial institutions tried to interject, HSBC did not care, they just wanted their money and NOW!!! The circumstance did not matter, said that there was NOTHING THEY COULD DO! They keep records of contact with the customer, but do not keep any record of the customer calling them to correct the problem, seems a little one sided.

  • Qq
      18th of Feb, 2009
    0 Votes

    oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo

  • No
      14th of Mar, 2009
    0 Votes

    Think twice before closing the account. HSBC just did the same thing to me. The impact is that this can change your credit utilization ratio and can be a negative impact on your credit score. As bad as HSBC sucks, do not make the situation worse by closing the account. Simply pay it off and forget that you even have the card. After the balance sits at zero long enough, it should stop negatively impacting your credit score.

    I also called them -- not to close the account -- but to opt-out of all non-required mailings. HSBC is not a respectable company to deal with and while I will have one of their cards sitting out there with a zero balance for awhile, at least I will not get regular reminders of these ### that I got myself involved with.

    I had only been a customer for a little more than a year and I am glad that I learned what a despicable company HSBC was before I that established a banking relationship with them that I could not extricate myself from in an immediate fashion.

  • Fe
      15th of Mar, 2009
    0 Votes

    I too was recently notified by letter from HSBC that I fell into a high-risk group...Let's see...I've held an account with them since January 2017 with a $7, 000 credit limit. I have had a previous maximum balance of about $3, 500 and have NEVER been late on a payment, nor had any balance disputes with them. They reduced my credit limit to $910 last month. [At the time that the notice was received, I had a $595 balance on the account-all current of course] My wife and I are by no means "loaded", but are positioned stable financially. We both have long-standing staff positions with a major state university. Our house and four vehicles are debt-free. I find HSBC's actions outrageous. While I do not tend to be litigious, I would be pleased to join in a class-action suit regarding the matter.

  • Fr
      28th of May, 2009
    0 Votes
    HSBC Credit Card - annual fee
    HSBC
    United States

    I have a credit card which I rarely use but in good standing that I have had since 2017. No annual fee has ever been charged and I never agreed to one. I didn't even apply for this card, it was sent to me when I took out a loan with this bank. Suddenly, I've been charged an annual fee. I have had at least 10 emails to their so called customer service dept. and after 10 emails was told that the fee was waved as a courtesy in 2017. No comment has been made regarding why no fee was ever charged until 2 years later and when I asked for proof that I ever agreed to an annual fee, well that request is ignored. I refuse to try and call these people because I can't ever get anyone that I can understand, calling is even more frustrating than emailing. Isn't there anything I can do?

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