HSBC Credit Card Raised my credit card rate to 33% Ripoff Illinois

I would follow the previous rebuttal's advice, cancel the HSBC card, and transfer your balance to a more reputable outfit. HSBC, in my opinion, is a terrible company with absolutely no ethics or concern for their customers. Not to mention that 33% is an INSANE interest rate.

Did they give you a written reason for the increase? Tell you which credit agency they obtained information about you that prompted this increase? They have to give this information to you if you request it. I requested it for my HSBC card, and 3 months later finally have an answer - your interest rate was increased to maintain our profitability! There should be a way to fight this, but I doubt it. Only thing I know to do is to transfer your balance to another card, and cancel the HSBC card.

What has happened to you is called a Universal Default Clause...meaning ANY perceived problem with another credit card can be used as justification to raise your interest rates to the skies. Doesn't matter if there are no problems with other cards....Credit card giants can basically do whatever they want.

There's no need in filing FTC or BBB complaints against activity that isn't illegal. The problem ultimately lies with the government and "We the People" allowing that government to be taken over by crony con-artist politicians who have sold their votes to the highest bidder...Guess who was George W.'s biggest contributor? MBNA...the largest credit card company in the nation.