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Neiman Marcus Legal Spat Could Cancel Thousands Of Credit Cards (link)

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kbell
New Contributor

Neiman Marcus Legal Spat Could Cancel Thousands Of Credit Cards (link)

"...HSBC Bank threatened to close the customers' accounts and refuse to open new ones by Friday, unless Neiman Marcus agreed to raise the interest rates on the credit cards."

article: http://wcco.com/business/Neiman.Marcus.Canceled.2.655906.html
Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Neiman Marcus Legal Spat Could Cancel Thousands Of Credit Cards (link)

My Lord! Neiman's battling HSBC over their obscene interest rates! Yay for them!

When prestige department stores like Neiman's becomes a champion of the cardholder because of the abuse by the ccc's, that's saying something!

Many thanks for the post kbell! Interesting article! Smiley Happy
Message 2 of 6
orl2185
Established Contributor

Re: Neiman Marcus Legal Spat Could Cancel Thousands Of Credit Cards (link)



Sylviatob wrote:
My Lord! Neiman's battling HSBC over their obscene interest rates! Yay for them!

When prestige department stores like Neiman's becomes a champion of the cardholder because of the abuse by the ccc's, that's saying something!

Many thanks for the post kbell! Interesting article! Smiley Happy

Yes, ty for the fine post kbell. Sylvia me personally will not app for hsbc no matter what card or services they offer. I can recall few years back here in nyc when they bought out marine midland bank. Had a cc with MMB apr 11.25 new hsbc apr 18.55. Told them keep the card, left it at the cs counter at the bank cut in half. Really stingy mothas.... Oops sorry about that.
Message 3 of 6
Anonymous
Not applicable

Re: Neiman Marcus Legal Spat Could Cancel Thousands Of Credit Cards (link)

orl, I have an HSBC card, and have been debating closing it for the past 3 months. I'm now closer to closing it than ever before.

Thanks for the comment! Smiley Happy
Message 4 of 6
haulingthescoreup
Moderator Emerita

Re: Neiman Marcus Legal Spat Could Cancel Thousands Of Credit Cards (link)

I am always amazed at how many of the lah-dee-dah stores contract with the most abysmal bank card servicers to manage their credit cards. Notable exceptions: Nordquist (has its own bank), Macy's and Bloomingdales and others who use DSNB/ Federated Dept Stores (which is Citi), Target believe it or not, which has its own bank for now, and some of the others who use Citi and Chase (ick.)

No, this isn't an obsession of mine! Smiley Very Happy
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 5 of 6
Anonymous
Not applicable

Re: Neiman Marcus Legal Spat Could Cancel Thousands Of Credit Cards (link)

I am sure they will work this out- they both have big $ to lose-
 
 
Message 6 of 6
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