Complaint / Review
Hsbc - Orchard Bank
My APR will be going from 16.740 to 29.99 percent as of December 11. The card is in good standing and no lates payments have ever been recorded

I received a letter from HSBC credit card company. The letter stated that starting in December that my credit card would have changes in terms. I contacted the company and they stated that my APR would go from 16.740 to 29.99 percent. They told me this was being done because of tough economic times and other reasons. I was also told that i could opt-out of this, but that my credit card would be cancelled.
This card has a small balance (thank Goodness). I would like to know how the president of HSBC (Patrick Burke) can sleep at night, knowing this is being done to the American consumer. I have never been late and the card is in excellent standing