Report: #553204

Complaint Review: HBSC - Orchard Bank

  • Submitted: Tue, January 12, 2010
  • Updated: Thu, January 21, 2010
  • Reported By: Anonymous — San Diego California U.S.A.
  • HBSC - Orchard Bank
    1301 E.Tower Road
    Schaumburg, Illinois
    United States of America

HBSC - Orchard Bank HSBC Card Services How do they get away with this? Schaumburg, Illinois

*Consumer Comment: I agree with this post...

Show customers why they should trust your business over your competitors...

Okay, here we go again. Abusive scumbaggery by the worst kind of crook, legitimate banks/credit card companies. I have questionable credit because of a bankruptcy (no one to blame but myself on that one) but because of this, I am exposed to the world of predatory lending and this company is the most egregious example of it I have seen.

First, to keep an account open with a $500 limit or cap, I am required to pay a $70+ annual fee. On top of that, I am charged a "finance charge" averaging about $12 per month. So I paid them $30 in December and used the card on a couple of occasions, with the total being less than the $30 payment I made.

The finance charge hits on the 4th of January and puts me over my limit about $8, which triggers a $30 over limit charge. Doing the math, I am paying roughly $140 per year just to cover the finance charges, then another $78 for the annual fee. This means that I am paying almost 50% of my balance each year to keep the account open, because I keep a running balance near my limit, plus all the little stupid fees they try to tack on like the over limit charge.

So I call them to try and rectify the situation and I am on the phone first with a clueless nincompoop who I can barely understand, probably offshore somewhere. Then I escalate and I am on the phone with a total automaton who keeps referring to the letter of the law in my credit card agreement that I signed and basically telling me to F myself in professional language. This is despite the fact that I have been a customer of theirs for several years.

The bottom line is that this is the result of lawmakers being in the pockets of these criminals and writing legislation that allows these kinds of abuses to run rampant. I am starting here and telling this story to anyone who will listen. Remember that these are the same people getting huge federal bailouts because of their own moronic financial mistakes. People who have had similar experiences should stand up and say enough, I refuse to take it in the behind from these bottom dwelling greed factories we call credit card companies.
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This report was posted on Ripoff Report on 01/12/2010 01:30 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

I agree with this post...

AUTHOR: Ronny g - (USA)

Everything you stated is true...

You ask "how do they get away with it?"

Answer: Because they can.  As you stated..the "scumbaggery" is abusive and they are crooks in a sense..perhaps not in the eyes of the law, but in the pockets of those unfortunate enough to have no other choice after a bankruptcy.

Unfortunately after a bankruptcy your credit report is shot. So it is difficult, but possible as you did to still find a bank that will give you an unsecured card. As lousy as the terms on your card are..there are even worse ones out there.

The only suggestion I can make based on experience with others I know who have filed bankruptcy, is to use the card and do not make ANY late payments..and in a few years your credit may be golden again.

A friend of mine filed years ago after a divorce..they lost their condo as well..and the name it. Two years later his credit was back in the 800's by doing exactly as I suggested. Now he gets the better cards and terms..but learned his lesson..which is do not get marred to a nut job.
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