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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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Posts Tagged ‘ credit card ’

5 March
Posted in General News
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Will HSBC bad reputation slow branch growth?

HSBC branch growth is slowing, so HSBC is calling it a niche model. “We have a very niche branch strategy we are not opening our branches just to cover” the country, Brendan McDonagh, chief executive of HSBC North America Holdings Inc., said in a call with reporters on Monday. [...]

22 February
Posted in General News
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First Premier, HSBC and Capital One subprime cards

Tomorrow morning the credit card industry will change. New credit card laws take effect February 22nd 2010. What’s left for subprime customers? Issuers such as First Premier, HSBC and Capital One continue to offer low-limit cards to customers with poor credit. HSBC has pulled back its marketing, Shahani says, but [...]

20 February
Posted in General News
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HSBC credit cards under new rules February 22nd

Effective February 22, 2010, consistent payment cycles are mandated. The Credit CARD Act mandates that statements be mailed or posted online no later than 21 days before an account’s due date. How HSBC will comply or achieve compliance after failing for many years remains to be seen. HSBC raised many [...]

15 February
Posted in General News
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HSBC gives in to publicity and pressure

In the UK there seems to be a scam perpetrated by a company known as Glovista. Notice how HSBC tries to avoid liability but finally gives in. A telling sign is HSBC’s payment of an extra 100 pounds: The ray of sunshine in all of this is that you paid [...]

10 February
Posted in General News
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HSBC consumer complaints skyrocket

Although HSBC claims the bank has no idea why they would fall to the bottom of a customer satisfaction survey, complaints continue. From bungled payoffs to missing contracts consumer complaints are submitted on a daily basis. A major complaint in today’s economy are HSBC complaints regarding harassing phone calls at [...]