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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 CompUSA online payments held for days

TZ in Kansas asks:  “I recently made a payment online for a product that I bought at COMPUSA on a HSBC no interest credit offer. I made the payment of $89.50 on November 17 @ 8:33am CT.  My payment was due on November 19 (which was a Sunday).  My payment was not credited until Monday therefore incurring a $29.00 late fee.

This is the third time that they have done this to me but one payment was actually late so I consider it two times that are illegitimate.  They say that you can make a rush payment for $15.00 online or by phone but this again is unethical.  They also will not let you pay your bill at the retailer’s location.  This sounds as if they are trying to capitalize on late fees to offset their very “generous” no interest offers that they offer through retailers like COMPUSA and BEST BUY.  Every other credit provider credits the payments made the very day you enter them on the internet but not HSBC. What can be done about HSBC’s practices?”

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