I had multiple problems with my credit card with this bank. They did resolve one that occured with a payment that was 8 hours too EARLY, even though I had paid them already for the month. I had to file a complaint with the BBB before it was resolved. I spent 3 weeks working with their customer service department.
I was finally feeling good about them, I have been with them for 3 years, and had 1 late payment, and that was because I paid the wrong credit card account online. Since it was also affiliated with them, they were able to see the double payment and they allowed me to fix it that day. But the other day I got a WONDERFUL letter that said "We are now raising your interest rates to 24.9% for purchases and 29.9 % for cash advances. No explanation of why, I have that ONE incident in 3 years, they just finished telling me what a wonderful customer I was, just the kind of person they wanted, then they raise my interest rates for being such a valuable customer. I am going to go and see if I can get a loan to pay them off, and never deal with them again. I totally agree, I have had no problems with Capitalone, or Juniper. This company is basically just a corporate loan shark. Don't deal with them or you will regret it. I am surprised the government is letting companies get away with this type of behavior especially in light of the horrible economic mess everyone is in. And it's actually stupid for the company to do these things at least from my standpoint. If you make the payments so high that people cannot pay, then they will default and you won't get any of it. If you are depending on some type of insurance from another entity in the case of defaulted loans, chances are THEY don't have the money to pay HSBC either. It would be better to try to help those who actually do pay their bills.in the long run you will get more money and a better reputation.
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