Meet Jen from the Problem Solvers TeamHi, I'm Jen and I'm here to help. Submit your complaint here or get help here
TT in Virginia said: “I have had three cards with HSBC for several years. I have always paid on time and always pay over the minimum. I received what appeared to be junk mail (it didn’t say where it was from nor was it dated) and almost threw it away. When I read it it said my finance charge was going to go up to 20%. I had to look very closley to see who the company was. Anyway, it stated that I had 30 days to submit a letter to them saying I was going to “OPT OUT” of their finance charge increase and my cards would be cancelled and I would have to continue to pay my payments through the original cardholder agreement. I called them and emailed them twice to find out why they were doing this. I could never get a straight answer other than a letter would be mailed to me disclosing the reasons why.
Well, that letter never came and I did send them my letter to “OPT OUT”. Last night I received a letter from them saying they received my letter to OPT OUT but it was received too late and they would not be closing my account and I would have to pay off my balances at 20% interest. My letter was mailed in time and I had contacted them about this on three different occasions disputing the increase. So now is it their word against mine? Does anyone have any suggestions how to remedy this nightmare? It doesn’t even seem legal.”
This article, HSBC claims opt out letter received too late, is just one of our articles from Bank Horror Stories, HSBC Secrets
Bank Horror Stories monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
