I have had an account with household bank (HSBC) for over five years. Until recently, I would pay the balance in full each and every month. It wasn't hard since the credit limit was set at $300 and never once raised despite my excellent credit and patyment history.
I then decided not to pay in full one month as I had suddenly ran into some unexpected bills. Ironically that was the same month household bank then decided to charge me the yearly fee. That yearly fee put me over the credit limit. Household bank then also added on an unfair over the limit fee.in total household bank unfairly charged me over $100 in fees in ONE MONTH on a credit card with a credit limit of just $300!!!
I then contacted household bank by e-mail and phone many times asking them to remove either the yearly fee or the over the limit fee based on my long history of on time payments, and the fact that it was the yearly fee that put me over the limit. Naturally they told me that my business is valued and appreciated, but they simply can not remove either of the fees. On top of that I was told my interest rate was now going to go up.
I then paid the balance and the unfairly charged fees in full so I could close the account and cut ties with them and their unfair business practices. I was then told that I would need to tell them the password I was given when I opened the account in order to close the account. But I did not have the password. I do not recall every getting a password. I have never even used a password!
"No problem" they tell me. All I needed to do was answer a few questions to verify my information. I then give them my name, address, account number, and social security number but that wasn't enough. They then start asking me questions about car loans I never had, and about distant relatives. Such as the age of one. And I told them I had no idea of his age. They then tell me it's ok because I can just "guess".
So I guessed... And guessed wrong. Then they tell me since I guessed wrong and don't know the password that I have never used that they can't close my account until I send them a copy of my drivers license, proof of insurance, registration from my vehicles, copies of all my utility bills, AND a copy of my mortgage.
I then got extremely pissed and told them there was absolutely no way I was going to send a copy of my mortgage just to close an account with a $300 limit! They kept insisting it was the only way.
Finally after about five minutes of bitching at them and requesting to talk to supervisors they then decided I didn't need to send my mortgage. All I really needed to send was a copy of my drivers license, insurance and registration, and a utility bill. And even though that still seems like a lot of personal info to send out to a company engaging in unfair business practices just to close an account with a tiny $300 limit, I did it just so I could cut ties with this unfair company. I am currently still waiting for the account to be closed. I totally expect there will be more problems before it actually is closed.
In addition, what makes this even more insane is the fact that I actually have good credit! My credit score is well over 700 with all three bureaus, I don't have much debt, and I have NO late payments on any accounts!
I also have other credit cards with much higher limits. Those cards have and do raise my credit limits yearly without me even asking because of my good credit and payment history. Yet household bank never once raised my limit, and always seems to find new ways to charge me unfair fees.
Household bank is a major rip off!!
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