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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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Best Buy card credit limit reduced without notice

CN in Nevada said: “I signed up for the Best Buy Rewards Program and was issued a card backed by HSBC. My family purchased laptops from the store using the card which had a $1400 limit. We made all the payments early.

After our calculations we had paid off all but $200. We attempted to purchase a big screen TV from the local Best Buy store only to be told the card was declined.

After asking why the representative informed us that the card’s limit was now $700. We never received any notice from HSBC that our rate had changed. At that time we paid off and canceled the card. We will never do business with Best Buy or HSBC again unless 100% necessary.”

Posted By Timothy Blake

HSBC Watch is a watchdog and consumer activist coalition.

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off