HSBC cli 25$

[kickinit0486]

Has anyone heard of hsbc charging 25$ for a credit limit increase I called in to request a cli from 500 to highest avail first time i called in and they said they approved me for 100$ increase and i asked to speak to a manager about it they spoke with a manager and the manager said the rep declined the increase and they would have to call me back the next day to process due to only one per 24 hrs so the sup was suppose to call me back at three end up recieving the call at 8pm the manager process's the payment and said you were approved for 100 increase I was upset but said ok then he said there would be a 25$ fee for the increasing i was shocked and mad about this whole process and asked him if he really pulled my credit for a 75 dollar increase he said he couldnt answer that question just said that it was possible when i asked to have the fee waived he said noone was able to waive this that they are a fair lender and i asked to speak to someone above him he said this was not possible he was a manager. I then asked to speak to executive relations he said they did not have a number but just had a mailing address and gave me this address and hung up. Has anyone heard of this or have any suggestions

[Creditaddict]

my friend was charged this on his first increase.

[ficonovice]

HSBC is a predatory lender (for the most part)...

[dondk]

I've been less than pleased with HSBC.. They are the card to meet my shredder in a few days. They did the same for me, then when I asked for waiver of AF they told me where I could go. I told them to keep the CLI and the AF. I am just waiting for the payment to post and I am done with them.

[kickinit0486]

Is this card worth keeping I have a 500$ cl on it it is paid off and I have had for a little over a year

[Anonymous]

Yeah, I have that same card! I didn't know about the $25.00 per $100 CLI, until I read the membership thingy sent with card (after I activated it). I guess it depends on what other cards you have, whether or not to keep it. I plan to close mine if they won't waive the huge annual fee in couple of months.

[Anonymous]

The fee i was charged for CLI with them was $20.  They only charge you if you ask for the CLI. Automated CLI's don't cost you anything. I got 3 Auto CLI's with Orchard and they have waived my AF and my initiated CLI fee of $20.

[TangMeister]

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@kickinit0486 wrote:
Is this card worth keeping I have a 500$ cl on it it is paid off and I have had for a little over a year

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Sounds like you've got one of their cards they love to hit you with a fee on when you ask for a CLI. They have different tiers of cards targeting different segments of the market...just like Cap 1 does.

My advice: If you're ok with them otherwise, then hang on to the card and use it, but pay it in full each month. Eventually, they should give you auto CLIs as the account ages and your FICO score increases. Somewhere down the road, they'll offer you a "better" card with no annual fee and ability to ask for CLIs for free via the "luv" button online. Take it and either close this one or combine the accounts (though you may not get the overall combines CLs from both).

If you just don't like HSBC, then dump 'em when you've got another card, and go with BoA or someone similar. Better yet, a Credit Union like PenFed or NFCU (if you qualify). They'll treat you better.

Good luck!

PS: If you sock drawer the card, and/or don't use it for around 90 days or so, they'll close the account due to inactivity, and you won't be able to reopen it without reapplying for a new card. That's been happening a lot lately.

[Geordi]

HSBC charging for CLIs is: Par for the course!

Just do as Donald Trump does, say YOU'RE FIRED!

GL

[Anonymous]

I don't see why everyone is so down on them. They are rebuilder cards. If you need a rebuilder card, there is a reason and you can't complain about their practices and/or expect them to treat you like a prime lender. If you don't need them anymore, yes, fire them.

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Geordi wrote:
HSBC charging for CLIs is: Par for the course!

Just do as Donald Trump does, say YOU'RE FIRED!

GL

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Message Edited by UpUpUp on 09-11-2008 08:56 AM