I applied for a couple of HSBC credit cards because my credit rating is not good. They approved me for two $300.00 limit accounts. Their $79.00 initial fee is a bit ridiculous, but I needed a credit card.
About two months after obtaining and activating the cards, I sent in a payment and checked the change of address box on the front of the payment coupon and filled out the appropriate information on the back. The following month I did not receive a statement for either account at my new or old address.
I called customer service to inform them that I had not received the statements. The person I talked to was very nice, but not very helpful. She suggested that I use the online bill pay service or check-by-phone ($12.95 fee). I informed this person that I did not have a checking account so I could not utilize these features. I only have the HSBC credit cards, so I could not pay my bill with a credit card.
Nine days later, still no statements. I contacted them again. This time the person I spoke to did not speak english very clearly and I had trouble understanding them. I told them that I have still not received my statements. I was informed that if my payment wasn't received by the due date, I would be assessed a $30 late fee which would put my acoount over the limit which would be another $30 fee.
This company preys on people who are credit challenged and charge riciculous fees even when the consumer is not at fault. Their interest rates are even more ridiculous and should be illegal.
DO NOT APPLY FOR THEIR CREDIT CARDS. If you have one, pay it off and choose another company, hopefully with a better reputation than HSBC.
0 comments