• Report: #848864

Complaint Review: HSBC ORCHARD BANK CREDIT CARD

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  • Submitted: Mon, March 05, 2012
  • Updated: Mon, March 05, 2012

  • Reported By: Sog Team — Santa ana California United States of America
HSBC ORCHARD BANK CREDIT CARD
Las Vegas Nevada Internet United States of America

HSBC ORCHARD BANK CREDIT CARD HSBC CREDIT CARD VIOLATES ELECTRONIC FUNDS TRANSFER ACT Internet, Internet

*Consumer Comment: I don't see it

*Consumer Comment: You are wrong..

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HSBC WARNING !....... CREDIT CARD

Here;s a great scenario for credit damaged people. Need a credit card ? We applied for one. The initial charges are outrageous for a three hundred dollar credit limit. Moreover if you need $ 20.00 from an ATM it will gladly give you $20.00 for $35.00 return the next month. Seems to be the new legitimate business of the "mob" in Vegas. 

Finally dont pay the balance off in full and expect to use the card. HSBC puts a "ten day hold" on the card after you pay it off, and the funds have been removed from your other account  Its really called a "Violation of the Electronic Funds Act"  Just another Internet play to deprive the poor legitimate "credit damaged" people of their money, No, Im not a bleeding heart ! 

Dont get me wrong I love this country however the Internet is nothing more than a tool that is designed to help and assist the " the mob economy" to take advantage of you, and your dollars, Im sorry this happens to all of you that really believe in the American Way of Life !!!! Its now all about the money.......

This report was posted on Ripoff Report on 03/05/2012 10:37 AM and is a permanent record located here: http://www.ripoffreport.com/r/HSBC-ORCHARD-BANK-CREDIT-CARD/internet/HSBC-ORCHARD-BANK-CREDIT-CARD-HSBC-CREDIT-CARD-VIOLATES-ELECTRONIC-FUNDS-TRANSFER-ACT-Int-848864. 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 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

I don't see it

AUTHOR: coast - (USA)

"the Internet is nothing more than a tool that is designed to help and assist the " the mob economy" to take advantage of you, and your dollars"

Really? I've been using the internet since the mid-'90s and I haven't experienced this so called 'mob economy". Apparently I missed that when I was online reserving hotels and plane flights. I suppose I missed that "mob economy" when purchasing goods, paying bills and reading news reports while online. I didn't see that "mob economy" when I went online to check today's weather report. Are you sure the internet is nothing more than a tool designed to take advantage of us? I don't see it.
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#2 Consumer Comment

You are wrong..

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

First of all this is a SUB-PRIME card for people that have not shown that they can handle credit.  So any annual fees or maintenance fees are totally legal..because they are disclosed when the person applies for the card.  If you don't agree to the fees then DON'T apply for the card.

Also, not sure how you came up with the $35 to get $20 out of an ATM.  But anytime you use a Credit Card(and this is ANY Credit Card) at an ATM you are effectively doing a Cash Advance and that is always going to be the most "expensive" way to borrow money from the credit card.  Because you have a Cash Advance Fee, the ATM Fee, as well as Interest starting from the day you withdraw the money. 

As for them holding funds.  As long as it is POSTED when received to not charge you late fees or additional interest, there are no violations of any laws.  There is nothing that says they can not "hold" the funds for a period of time to verify that they clear, yes you may see them "clear" in 2-3 days from your bank but it doesn't matter.  The reason is that they are extending you a line of credit, it is NOT your money.  So if they want to not allow you to access THEIR money for a period of time they have that right.  Oh and guess what..if they want you to no longer have access to any of the money they can close your account at any time and for any reason...because YOU agreed to it when you got the card.
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