• Report: #399031

Complaint Review: Suzuki Retail Services HSBC

  • Submitted: Mon, December 08, 2008
  • Updated: Tue, December 16, 2008

  • Reported By:Louisville Kentucky
Suzuki Retail Services HSBC
PO BOX 15521 Wilmington, Delaware U.S.A.

Suzuki Retail Services HSBC HSBC steals money by increasing APR!!! Wilmington Delaware

*Author of original report: Suzuki Retail Services HSBC (Simply Unorganized)

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I purchased a brand new Suzuki GSXR-750 in 2007 for $10,200. The corresponding APR was 12.5%. Not the best I've seen, but I agreed to the terms. For the last few years I have payed over the minimum payment and have never been late. My credit is, for lack of a better term, "superb," in every possible way. Despite my excellent standing with Suzuki they have sent me a notice letting me know that my APR is to be increased to 19.99%. This is ridiculous!

HSBC-Suzuki is taking advantage of many loyal customers by doing this. Since this has occurred, I have transferred the remaining balance to a low interest credit card and I am going to close my HSBC account. I will never do business with them again. Beware to anyone who is considering to take a loan from this company.

This company will rob you!

Skunk
Louisville, Kentucky
U.S.A.

This report was posted on Ripoff Report on 12/08/2008 08:21 AM and is a permanent record located here: http://www.ripoffreport.com/r/Suzuki-Retail-Services-HSBC/Wilmington-Delaware-19850-5521/Suzuki-Retail-Services-HSBC-HSBC-steals-money-by-increasing-APR-Wilmington-Delaware-399031. 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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#1 Author of original report

Suzuki Retail Services HSBC (Simply Unorganized)

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

Well, since my recent notification of an increase in APR, I have transferred my balance to a new bank for a fantastic low APR (5%). After doing this I contacted HSBC-Suzuki to tell them to close my account. I then had found out that even though my statements said that I had a corresponding APR of 17.9%, that it was in fact 12.5%. The women I spoke with was rude and wouldn't tell me why my statements say corresponding 17.9% APR when it is actually 12.5%. She couldn't tell me why I was being sent a notice of an increase in APR when I should be exempt. This company is so unorganized. It is just simply ridiculous!!! I really dislike this company, I could run a better bank out of my basement.
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