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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 cash back card not as stated

SC, no location given, said “What we have here is a catastrophic service failure by your company. I applied by telephone for the 2% cash back HSBC credit card. The gentleman who took my information confirmed that I was applying for the 2% rebate card. I was informed online and by telephone that my application had been approved.

I received the card and immediately made more than $700 in charges. Thereafter, I received a letter indicating that the card you sent had only a 1% rebate. On September 19, I sent you an email setting forth the foregoing facts and requested rectification of your error.

The following day, I received an email response stating we are unable to handle your request through email and telling me to call you.

On September 21 after extended wait time, I spoke with Teri of your Customer Service at 888-385-8916 who eventually transferred me to Bill at 800-944-0076 who explained he couldn’t help and transferred me back to Ahmed at Customer Service who, after extended holds, transferred me to his supervisor Amiiruddha who, without further explanation or apology, said I was stuck with the 1% card.

This telephone nonsense took an hour and twelve minutes.

Informing me that my application for a specific line of credit had been granted and facilitating my use of that credit before ultimately telling me that my application had been denied is, at best, shoddy business practice and, at worst, a legally questionable bait and switch tactic.

COPIES: Bureau of Consumer Protection, Federal Trade Commission, Office of the Comptroller of the Currency, Large Bank Supervision”

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