This company more than doubled my interest rate on one of the cards i hold with them.
They claim it is because "my credit changed" or something like that as well as my "payment history" with them. I have always paid well above the minimn payment due and have never been late with a payment.
I also subscribe to 2 different credit reporting agencies so I know this for a fact - that nothing has changed with any reporting bureau.
Where are they getting there information from???
I am telling the truth and really want someone to do something about this abuse. I am sincerely trying to bring my credit score up so this is why I pay the extra 15.00 per month (I'll have to check to make sure one or the other is Not through HSBC).
Here is a copy of my last email received from HSBC... Oh, and I never recevied any "letter" from them.
We understand your concern with the increase of your Annual Percentage Rate.
The decision to change the terms of your account was based in part on your account history with us and information obtained from the credit-reporting agency listed in your letter.in addition, the specific reasons for the change in terms to your account are indicated in your letter. If you feel that the bureau has not reported this information accurately, you may contact the bureau for a free copy of your credit report.
If you wish to close your account, please call the number on the back of your credit card to reach our Customer Care Department.
You are important to us and we appreciate your business.
Sincerely,
Shankara
Household Bank Customer Care
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