EL in Washington said: “HSBC has been my credit card provider since 2007. They have charged me overlimit fees which were triggered by a fee for a service on my credit card called AccountSecurePlus. HSBC sold me this service to supposedly protect me if I lost my job. They would subtract the fee amount from my account at different times of the month. If I was close to my credit limit (which was very low) they would pull the fee out at the closing date of the statement, which would put me at an overlimit fee.
I wrote letters stating it was illegal for them to penalize me with an overlimit fee if I did not choose to have that (per the Feb. law passed this year) and also could not apply that overlimit fee to a “fee” only a transaction. When I wrote and complained with threats of reporting them to the FTC, the overlimit fees suddenly “dissapeared” from my online statements. It was a joke.
I was late by 5 days ONE TIME since 2007 on my credit card payment and they raised my already high interest rate of 19.99 % to 39.99%! They also JUST sent the new changes per the law to us (it’s May) and did not date the letters. They have no date anywhere on the correspondence. How interesting.
I am paying off my card with them and my card with Best Buy in full over the next month. I will never deal with them again. I have a 700 credit score and no longer need them. What a shady organization they are.”