• Report: #327454

Complaint Review: HSBC Retail Services

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  • Submitted: Sun, April 20, 2008
  • Updated: Mon, April 21, 2008

  • Reported By:Perry Hall Maryland
HSBC Retail Services
Carol Stream, Illinois U.S.A.

HSBC Retail Services This company is raping their customers with intereste rates above 27% and making it difficult to pay debt off. Carol Stream Illinois

*Consumer Suggestion: Confusing "registered mail" with "certified mail"

*Consumer Suggestion: Take Some Responsibilty.

*Consumer Comment: Is this so???

*Consumer Comment: RE:

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I purchased living room funiture back in 2000 and I am still paying a credit card bill each month. This company raises the interest rate to 28% which should be illegal. In addition they charge all these fees so that your balance goes up so you can't get ahead. first with overlimit fees and then late fees and God knows what else.

The website never allows me to pay my bills online. There is always some error message which means I can't pay my bill online like all the rest of my bills. I recently tried to get approval for a house and find out that this lousy company reported me in to credit agencies which now has contributed in lowering my scores. I always pay more than the minimum payment and have paid monthly. How is a credit card company to be able to raise rates to 28%? This is rape without the ski masks.

Not only is this company collecting strictly interest but now they have the nerve to report me to credit agencies making it impossible to get a loan to pay them off as well as buy a house. I will stop at nothing to fix this and do anything to get another loan to pay this off so I will never have to deal with this company again!

Lauri
Perry Hall, Maryland
U.S.A.

This report was posted on Ripoff Report on 04/20/2008 09:51 AM and is a permanent record located here: http://www.ripoffreport.com/r/HSBC-Retail-Services/Carol-Stream-Illinois-60197/HSBC-Retail-Services-This-company-is-raping-their-customers-with-intereste-rates-above-27-327454. 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 4Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Confusing "registered mail" with "certified mail"

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

I see this alot.

People should actually go to the USPS website and see what each service actually is.

Most times people confuse registered mail with certified mail. Big difference.

Please educate yourself on this.
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#2 Consumer Suggestion

Take Some Responsibilty.

AUTHOR: Mr. Postmaster - (U.S.A.)

Read the fine print before you sign that you agree with all the terms. It is that simple. To the respondant who told you to send your payment registered mail and then complain to the Postmaster, he is absolutely misinformed. I am a Postmaster of a Texas Hill Country town of 20,000 customers and the post office DOES NOT get involved in civil matters. Registed mail is for securing valuables, not mailing bills. That will only slow your payment down. YOu may want to send it Priority mail with signature confirmation. This will expedite delivery and digitally provide the date it was signed for and by whom signed it. This info could be helpful in proving that they did receive it on a specific date if you feel they are not being completely honest with you.
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#3 Consumer Comment

Is this so???

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

""You can at least stop the late fees by mailing all payments via Registered Mail with Return Receipt....When you do this, it's impossible for them to apply late fees if you mail prior to the due date...If they do this anyway, you can file charges with the Postmaster General of your state.""

If you know of a law or regulation that states that John, I (and others) would sure like to know about it.

As best I can tell, the postmark is no longer a player as it was decades past. I'm old enough to remember when It USED to be that if a mailed payment was postmarked on of before the due date, no late fees would be assessed. I remember my grandmother going INSIDE the postoffice to ensure that her bill payments were POSTMARKED at that time.

NOT any more. Even if you send a payment via registered mail, if they receive it AFTER the due date they will assess late fees. The name of the game nowadays is to make sure that they receive it on or before the due date. My credit card agreesments clearly state that the payment must be RECEIVED on the due date (not mailed on the due date.)

FYI registered mail significantly SLOWS the delivery time for the mail to get to its destination.
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#4 Consumer Comment

RE:

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

Credit card companies are free to raise your interest at any time....for any reason....The credit card industry has bought off the US Presidency and Congress.....

You can at least stop the late fees by mailing all payments via Registered Mail with Return Receipt....When you do this, it's impossible for them to apply late fees if you mail prior to the due date...If they do this anyway, you can file charges with the Postmaster General of your state.
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