This consumer might be referring to the R.C. Willey Credit Card. "We carry all our own accounts, approval is instant and you deal directly with us" says the RC Willey website at www.rcwilley.com

Here at Household Watch we acknowledge the consumer may have misspelled the company name. However we find no past relationship between Household - HSBC and RC Willey.

If the company decides to sell its credit card portfolio we will monitor the situation and report the results here.

In many economics classes professors tell of a company that decided to carry their own credit card when credit first became the rage. The board of directors decided upon a plan to give credit in a fair an equitable manner, and although maximum allowable interest rates were much higher, the company decided that a default rate of 18 percent would be fair. The board decided on "a fair credit plan that could be paid back without hurting the average man."

While other companies made more profit from their financing, this company held the course for as long as possible. Some economists use the company as an example today because of their initial logic, and describe it as ethical but flawed, or "a nice idea but bad business." The company was JC Penney.

Household Watch does not recommend one company over another nor do we endorse companies. This is a history lesson only.