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New Member
neondon
Posts: 1
Registered: ‎01-13-2009
0

HSBC bank mastercard

A little tale of a bank that really does not appreciate its customers :

I have had a hsbc mastercard for 10 years and have never ever missed a payment in all those years , my balance has been from the low hundreds to 8 thousand or so and my limit was 10,000.00 . the interest was never good on this card at 13.9 percent but when i got it i was recovering from a bankruptcy .

Recently my interest rate went from 13.9 to 17.9 then to 19.9 for no reason other than a whim of the bank , no amount of phone calls could sway them so i paid off the card totally . as soon as the balance went to zero the credit limit went to 300.00 ( yes 3 hundred ) . one more phone call and they can lower my interest rate back to 13.9 and they say my limit will increase over the years .  DO THEY NOT KNOW THAT MY CL DECREASE ADVERSELY AFFECTS MY FICO SCORE ?  sure they do , they are not stupid .

so , i cancelled the card and now they get 19.9 percent of nothing which in my calculation is NOTHING . i dont really think my cancelling the card will affect my fico any more than this company has already .

on another note , my discover card just gave me a CLI  and BOA  just gave me an attractive interest rate .

 

signed

an angry consumer in georgia

Super Contributor
concorduser
Posts: 6,025
Registered: ‎09-18-2007
0

Re: HSBC bank mastercard

I am debating if I should close my HSBC MasterCard as I have to pay AF on the card next month when it comes to renewal. It is $39/ year. I just dont feel like paying it any more.
Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: HSBC bank mastercard

[ Edited ]

neondon wrote:

A little tale of a bank that really does not appreciate its customers :

I have had a hsbc mastercard for 10 years and have never ever missed a payment in all those years , my balance has been from the low hundreds to 8 thousand or so and my limit was 10,000.00 . the interest was never good on this card at 13.9 percent but when i got it i was recovering from a bankruptcy .

Recently my interest rate went from 13.9 to 17.9 then to 19.9 for no reason other than a whim of the bank , no amount of phone calls could sway them so i paid off the card totally . as soon as the balance went to zero the credit limit went to 300.00 ( yes 3 hundred ) . one more phone call and they can lower my interest rate back to 13.9 and they say my limit will increase over the years .  DO THEY NOT KNOW THAT MY CL DECREASE ADVERSELY AFFECTS MY FICO SCORE ?  sure they do , they are not stupid .

so , i cancelled the card and now they get 19.9 percent of nothing which in my calculation is NOTHING . i dont really think my cancelling the card will affect my fico any more than this company has already .

on another note , my discover card just gave me a CLI  and BOA  just gave me an attractive interest rate .

 

signed

an angry consumer in georgia


I want to say welcome to the club but I don't want you to think that it makes this experience suck any less. Fact is that recently ALOT of us have been dealing with various acts of idiocity by HSBC in one form or another and they are just hell bent on alienating their entire customer base. There is no rhyme or reason we have figured out yet and if you can bear to use another card and just sock drawer this one, do it. I have already started reshifting my assets and reallocating to more stable banks/cards as have many others. It is very unfortunate as they gave me a CLI on one account but turned around and slashed me 50% on another, makes no sense. They lowered my APR on one and jacked up on another, makes no sense. I am very sorry to hear that you are having troubles too but it seems to be a habit and becoming and expectation with regards to HSBC. Try not to let it get to you, although much easier said than done, I know, trust me.

 

PS: Are those lovely Georgia peaches in season yet? :smileyhappy:

Message Edited by Guardian on 02-25-2009 04:23 PM

Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: HSBC bank mastercard


concorduser wrote:
I am debating if I should close my HSBC MasterCard as I have to pay AF on the card next month when it comes to renewal. It is $39/ year. I just dont feel like paying it any more.

IMHO dump them, take the hit on the age of account and the credit and take your business elsewhere where you are appreciated. I did that myself with Orchard, eventhough it cost me almost 2.5 years of history about 6 years ago and I am already way over it and glad I dumped them when I did.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


New Visitor
Thurston
Posts: 4
Registered: ‎02-25-2009
0

HSBC MasterCard

I just blasted their customer service agent last Saturday because my card was declined for a $11 charge when just an hour or so prior I charged $200+ with no problem and had been charging different amount all days.

 

Prior to the declination, I received a phone call allegedly from HSBC as a security alert of purchase for $8 or $9 for 2-3 days prior.  The caller said the charge was suspicious but couldn't identify what was suspicious about it.  I asked if my credit card usage history indicated prior transaction with that company and the answer given was incorrect, so I hung up.

 

So when I called customer service I was furious.  Not because of this one incident, but this was the third alert in about a month and I viewed it as a scare tactic to get me to buy the fraud alert product they were trying to sell me that I refused to buy.

 

New Contributor
javajunkie
Posts: 67
Registered: ‎02-15-2009
0

Re: HSBC MasterCard

So HSBC is not a good credit card to get? I was approved for a credit card through them for a $300 limit at 8.9%.(or so they said) I don't have very good scores about in the 620-630 area and I need a CC. Was declined for Hooters.
Epic Contributor
Creditaddict
Posts: 20,211
Registered: ‎10-23-2007
0

Re: HSBC MasterCard

they are a great bank to rebuild.

I just would not call them a good prime bank for people with good scores. 

Fico Scores: EQ- HATE U, TU 671 GE, EX 669 Chase(09-15-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Walmart $400
Over 45 Cards in between :smileytongue:
Super Contributor
concorduser
Posts: 6,025
Registered: ‎09-18-2007
0

Re: HSBC MasterCard


Creditaddict wrote:

they are a great bank to rebuild.

I just would not call them a good prime bank for people with good scores. 


 

+1
Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: HSBC MasterCard


javajunkie wrote:
So HSBC is not a good credit card to get? I was approved for a credit card through them for a $300 limit at 8.9%.(or so they said) I don't have very good scores about in the 620-630 area and I need a CC. Was declined for Hooters.

Generally no, if you can avoid them, do it, or go for their non-subprime better cards.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: HSBC MasterCard


Creditaddict wrote:

they are a great bank to rebuild.

I just would not call them a good prime bank for people with good scores. 


Bingo, said much better. I tried but wasn't as eloquent about it. Ditto though.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800



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