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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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No notification of HSBC reduced credit limit

CF in Florida said: “HSBC is TERRIBLE. I have had an impeccable credit history with them for over 3 years, and all of the sudden today i go online to check my balance (as i do frequently) only to discover that my credit limit has been lowered from $2000.00 to $1100.00 with NO NOTIFICATION. Seriously? Is that any way to conduct business? When i called them they said it was a ‘mass reduction’ and it was a ‘business decision’..

What about CUSTOMER SERVICE?? What if i DIDNT check my account balance daily, and had tried to make a purchase thinking i had $1500 dollars available on my card? Just awful.. not to mention what this does to my credit score for my balance to available credit ratio. The economy just keeps getting better and better. I’m never using that card again, i’m cutting it up with great pleasure as soon as I pay it off next month. GOOD RIDDANCE HSBC!!!”

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