- Report: #438157
Report - Rebuttal - Arbitrate
Complaint Review: HSBC Orchard Bank, Household Credit Services
HSBC Orchard Bank, Household Credit ServicesP.O. Box 80084 Salinas, California U.S.A.
HSBC Orchard Bank, HSBC Orchard Bank, Household Credit Services Failure to Refund Secured Credit Card Deposit Salinas California
*Consumer Suggestion: Orchard does not hold the deposits.
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I requested an interest rate reduction in November 2008 which was denied. When I advised them I would pay off my account and close it, the suddenly offered me a reduction to 13.25%. I received and email confirming this amount. However, I later received a letter stating this rate, but also stating the the interest rate would never be lower than 15.99 percent. This was just pure double talk and deceptive trade practice.
I decided to just pay off the card balance; which I did in February 2009, and closed the account on 24 February 2009. When I called to close the account, I was transferred to a supervisor who would not take "No" for an answer and kept trying to offer me incentives to keep my account open. I adamantly refused to do so and demanded that my account be closed and that my Secured Deposit be refunded. He finally relented and did close my account. He stated that my Secured Deposit refund would be processed and submitted to me within 30 days.
On March 26th, 2009 I called to followup on my refund only to be told that it had not been submitted for refund. I have begun initiating demands for an immediate refund of my Secured Deposit. However, I am being told that it will require an additional 30 to 45 days.
I have initiated complaints with the Federal Trade Commission and the State of Texas Attorney General. Additionally, I plan to seek legal action against HSBC Orchard Bank and Household Financial Services for fraud and deceptive trade practices. From what I have already learned on the Internet, I feel that it might be possible and reasonable to seek a Class Action Lawsuit against these Institutions to combat their predatory practices.
Sugar Land, Texas
This report was posted on Ripoff Report on 03/27/2009 07:02 AM and is a permanent record located here: http://www.ripoffreport.com/r/HSBC-Orchard-Bank-Household-Credit-Services/Salinas-California-93912-0084/HSBC-Orchard-Bank-HSBC-Orchard-Bank-Household-Credit-Services-Failure-to-Refund-Secured-438157. 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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