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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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Posts Tagged ‘ GM Card ’

12 January
Posted in Merchant Issues
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GM needs to ditch HSBC now says cardholder

EM in Illinois said: “I hope GM realizes the disservice this company is doing to them. I have had a GM card for many years. I recently received a notice reducing my limit. This makes it virtually useless to use and to accrue points toward future purchases. It also potentially [...]

6 January
Posted in Service Issues
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GM card rejects transactions to terminate low profit customers

GM in Connecticutt said “I have been a HSBC GM Card holder for fifteen years with a $16,000 credit line. I pay my card in full each month, and have a 800 FICO score. Since November 2008, HSBC has rejected transactions on my card three times with no prior warning. [...]

31 December
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More GM card complaints haunt HSBC

SA in Michigan said: “I have excellent credit and have had my GM card account for 10 years. My credit limit was $6500 until yesterday when I received a letter from HSBC stating that due to inactivity, my account credit limit was being reduced to $300. What a joke. I [...]

31 December
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GM Card credit limit decreases from $20,000 to $300

SD in Texas said: “More of the same here for me: Opened a letter from GM today and read that my credit limit is $300.00, reduced from just under $20,000.00. I also had $50.00 in earnings due to me which I told the representative I was uninterested in. I closed [...]

25 December
Posted in Merchant Issues
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Perfect credit but GM Card limit lowered to $300

JM in Illinois said: “I have had a GM Card for over 10 years. I’ve never made a late payment. My credit is excellent. My account is active, i.e. I have current charges on my GM Card to be paid in January 2009. My credit limit during all that time [...]