Complaint / Review
Orchard Bank - HSBC
Rediculous increase in interest rate without warning!

As written at the top of my statement for my [HSBC] Orchard Bank credit card, I am a "valued cardmember since 2006". Apparently my value is disproportional to my interest rate, which has jumped from 14.90% to 29.49%. I called and spoke with their customer service center (located in India, as verified by the rep I spoke with) and I was informed that all Orchard Bank patrons rates have increase to this amount. I have since shredded my card and closed my account. I urge others to do the same and don't let friends or family subscribe to their services. With the current economic state of our nation, for a company to be outsourcing jobs and raising the rates of cardholders stateside to preposterous rates is both unethical and unsound. I am voting with my feet...