Complaint / Review
HSBC Mastercard
Lowered my credit line without prior authorization and treated me unfairly

I came home from work today and found a letter from HSBC stating that "based on the credit histories of our account holders similar to you" we have decided to reduce your credit limit by over $1000!

I am OUTRAGED. My husband and I have had this account for almost two years and we have always been on time with our payments. I cannot understand why HSBC would lower my credit limit without asking for permission to do so!

We're in a little financial bind and I was counting on borrowing $500 from this account to pay a few bills. Now we cannot do so, thanks to the action that was taken. I know that AMEX and other banks have been lowering credit lines but I NEVER thought HSBC would engage in this practice!