• Report: #326984

Complaint Review: HSBC Bank Nevada NA Direct Merchants Bank

  • Submitted: Fri, April 18, 2008
  • Updated: Sun, July 13, 2008

  • Reported By:Casa Grande Arizona
HSBC Bank Nevada NA Direct Merchants Bank
Po Box 98707 Las Vegas, Nevada U.S.A.
  • Phone: 520-421-2820
  • Web:
  • Category: Banks

HSBC Bank Nevada NA Direct Merchants Bank Cancellation of a 21 year old account with 15000 credit limit due to 6 months inactivity Casa Grande Arizona

*Consumer Comment: HSBC/Orchard Bank

*Consumer Comment: HSBC/Orchard Bank

*Consumer Comment: HSBC/Orchard Bank

*Consumer Comment: HSBC/Orchard Bank

*UPDATE EX-employee responds: read your cardmember agreement

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This is the most ridiculous thing I have ever heard. You must use your credit card constantly or it will be cancelled. I opened this account in 1987 & my credit limit was 14,900+. The last item I charged was $293 in September of 2007.

I receive a letter telling me the account was cancelled due to inactivity. I tried to access this account online & it was closed also. I ran my credit bureau and it stated that I closed the account. NOT!!!

When I called and asked to speak to a supervisor the response I got was that at their discretion any inactivity from 6 months to a year can be cancelled. I told them I had 6 months inactivity and it was a 20 year old account & I wanted it reactivated. They flat out refused & told me I had to reapply.

This is so ridiculous and in my opinion bad business!!

Pama
Casa Grande, Arizona
U.S.A.

This report was posted on Ripoff Report on 04/18/2008 05:51 AM and is a permanent record located here: http://www.ripoffreport.com/r/HSBC-Bank-Nevada-NA-Direct-Merchants-Bank/Las-Vegas-Nevada-89193/HSBC-Bank-Nevada-NA-Direct-Merchants-Bank-Cancellation-of-a-21-year-old-account-with-1500-326984. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 5Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

HSBC/Orchard Bank

AUTHOR: Fightingback - (U.S.A.)

I also had accounts with BOTH HSBC and Orchard Bank (same parent company). Perfect standing over the last 2 years, and in fact had just paid both down to a $0 balance. 7/12 I get a notification on both accounts that the interest rate, currectly %12.49 on both will be going to %24.99 on both. I have never been late or over the limit on either card. While I do have some collection accounts I am in the process of clearing up, those accounts were on my CR when I got the cards 2 years ago. I just refinanced an ARM mortgage to a fixed 30 year, so it seems the bottomdwellers are coming out of the woodwork.
When I called customer service all they could do was offer to increase my credit limit. I told them it was not acceptable, and if they did not maintain or LOWER my current interest rate I was closing BOTH accounts. They would not and I said close them both immediately!! I think I surprised them, but I stuck to my guns.
Other reports I have read here on Rip-Off reports allude to the fact that they target "questionable credit" holders in the hopes they can make big bucks of of them on late fees or overlimit charges. That never happened with me, thus they were not making money on me. I honestly feel that is their ONLY reason for raising my interest rate. FOOLED 'EM, they will NEVER get another dime of my money.
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#2 Consumer Comment

HSBC/Orchard Bank

AUTHOR: Fightingback - (U.S.A.)

I also had accounts with BOTH HSBC and Orchard Bank (same parent company). Perfect standing over the last 2 years, and in fact had just paid both down to a $0 balance. 7/12 I get a notification on both accounts that the interest rate, currectly %12.49 on both will be going to %24.99 on both. I have never been late or over the limit on either card. While I do have some collection accounts I am in the process of clearing up, those accounts were on my CR when I got the cards 2 years ago. I just refinanced an ARM mortgage to a fixed 30 year, so it seems the bottomdwellers are coming out of the woodwork.
When I called customer service all they could do was offer to increase my credit limit. I told them it was not acceptable, and if they did not maintain or LOWER my current interest rate I was closing BOTH accounts. They would not and I said close them both immediately!! I think I surprised them, but I stuck to my guns.
Other reports I have read here on Rip-Off reports allude to the fact that they target "questionable credit" holders in the hopes they can make big bucks of of them on late fees or overlimit charges. That never happened with me, thus they were not making money on me. I honestly feel that is their ONLY reason for raising my interest rate. FOOLED 'EM, they will NEVER get another dime of my money.
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#3 Consumer Comment

HSBC/Orchard Bank

AUTHOR: Fightingback - (U.S.A.)

I also had accounts with BOTH HSBC and Orchard Bank (same parent company). Perfect standing over the last 2 years, and in fact had just paid both down to a $0 balance. 7/12 I get a notification on both accounts that the interest rate, currectly %12.49 on both will be going to %24.99 on both. I have never been late or over the limit on either card. While I do have some collection accounts I am in the process of clearing up, those accounts were on my CR when I got the cards 2 years ago. I just refinanced an ARM mortgage to a fixed 30 year, so it seems the bottomdwellers are coming out of the woodwork.
When I called customer service all they could do was offer to increase my credit limit. I told them it was not acceptable, and if they did not maintain or LOWER my current interest rate I was closing BOTH accounts. They would not and I said close them both immediately!! I think I surprised them, but I stuck to my guns.
Other reports I have read here on Rip-Off reports allude to the fact that they target "questionable credit" holders in the hopes they can make big bucks of of them on late fees or overlimit charges. That never happened with me, thus they were not making money on me. I honestly feel that is their ONLY reason for raising my interest rate. FOOLED 'EM, they will NEVER get another dime of my money.
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#4 Consumer Comment

HSBC/Orchard Bank

AUTHOR: Fightingback - (U.S.A.)

I also had accounts with BOTH HSBC and Orchard Bank (same parent company). Perfect standing over the last 2 years, and in fact had just paid both down to a $0 balance. 7/12 I get a notification on both accounts that the interest rate, currectly %12.49 on both will be going to %24.99 on both. I have never been late or over the limit on either card. While I do have some collection accounts I am in the process of clearing up, those accounts were on my CR when I got the cards 2 years ago. I just refinanced an ARM mortgage to a fixed 30 year, so it seems the bottomdwellers are coming out of the woodwork.
When I called customer service all they could do was offer to increase my credit limit. I told them it was not acceptable, and if they did not maintain or LOWER my current interest rate I was closing BOTH accounts. They would not and I said close them both immediately!! I think I surprised them, but I stuck to my guns.
Other reports I have read here on Rip-Off reports allude to the fact that they target "questionable credit" holders in the hopes they can make big bucks of of them on late fees or overlimit charges. That never happened with me, thus they were not making money on me. I honestly feel that is their ONLY reason for raising my interest rate. FOOLED 'EM, they will NEVER get another dime of my money.
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#5 UPDATE EX-employee responds

read your cardmember agreement

AUTHOR: Paul - (U.S.A.)

Sorry to hear that, but any credit card company may close any credit card at any time for any or no reason, it is in your cardmember agreement. I agree it is not good business but HSBC is not in business for good business they are in business for profit and that is all that matters, that is why I don't work for the company anymore, ethically and morally I did not agree with their business practices.
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