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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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HSBC Card Not Used For 6 Months, Cancelled

BB in North Carolina said “Got letter in the mail from HSBC cancelling my credit card. I have no open balance with them, have had the card for several years, and have been a good customer. They claimed that because I did not use my card for 6 months, they were cancelling. When I complained that would affect my credit report, they said “You can close the account since we don’t report it until the end of the month and that would look better than if the card issuer closes the account.” What’s up with that?!

Editor’s Note: A credit report will look slightly better if the account is closed ‘at cardholders request’ as opposed to ‘closed by credit grantor’

Posted By Timothy Blake

HSBC Watch is a watchdog and consumer activist coalition.

2 Responses to “HSBC Card Not Used For 6 Months, Cancelled”

  1. Amanda Walker says:

    This just happened to me with HSBC. I have had an HSBC credit card for 1 1/2 yrs, only used it twice, and I owe them nothing. I get a letter today saying I’m cancelled, and listing a whole string of derogatory things that they say are on my Equifax report. I have not paid any bills late to anyone, and I have no idea what the problem is. I think it’s because i’ve been using my other credit cards, and not the HSBC one. I am ordering my credit report from Equifax right now to see if there really are derogatory items on it.

  2. Nick Green says:

    Go here and print out complaint form and fax it

    http://www.occ.treas.gov/customer.htm#Filing%20a%20Formal%20Complaint

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