• Report: #426443
Complaint Review:


  • Submitted: Fri, February 20, 2009
  • Updated: Sun, February 22, 2009

  • Reported By:State Of Maryland
1352 Charwood Road Hanover, Maryland U.S.A.

HSBC BANK Lowered Credit Limit - No Notice via Accountcentralonline, HSBC suddenly lowered my credit limit to a shade higher than current balance Hanover Maryland

*Author of original report: New LOWERED Limit works out to 5% available credit

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Well, I knew HSBC was a low-end creditor and they've gone and proven it. My latest statement from 5 days ago, viewed online, reflects NO CHANGE. However, upon making payment online this morning, low and behold........

my credit limit had been lowered by about 30% (not bad) and I have a limited amount of available credit now.

I made the payment this morning - well above (actually about 5x) the minimum due - which is what I usually do on this account as I intentionally used the credit line to make a single fairly large single purchase about six months ago intending to pay it off in increments (and have been doing so religiously since).

Not a major "loss" for me as I did not intend on using my HSBC card again, except in an emergency (which isn't anticipated), but I certainly do not appreciate a slash in my credit limit without notice.

So, all you HSBC execs, full of crap on your million dollar salaries, bite me. Instead of you using me, I feel I have used you for all you are worth and I continue to enjoy my purchase of about six months ago.

You are still a sub-standard company. But then again, you are in the banking business and we all now know how sub-standard you are.

May you go bankrupt and not receive any bailout funds.

[ in Maryland ]

Prefer Anonymity
State Of, Maryland

This report was posted on Ripoff Report on 02/20/2009 08:16 AM and is a permanent record located here: http://www.ripoffreport.com/reports/hsbc-bank/hanover-maryland/hsbc-bank-lowered-credit-limit-no-notice-via-accountcentralonline-hsbc-suddenly-lowered-426443. 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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Updates & Rebuttals

#1 Author of original report

New LOWERED Limit works out to 5% available credit

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

As an update, a little math indicates that HSBC's lowering of my credit limit amounted to nearly precisely an amount whereby my balance stood at ninety-five percent of available credit being utilized.

Gee, i bet this does wonders when other creditors look at my credit report. I have made a fairly hefty payment to HSBC and am awaiting it's posting to account to see if they lower my limit once again to that magical 5% available credit figure. At the time they actually REPORT my standing to the bureaus, I fully anticipate not being at any 95% utilization figure.

If they do lower my limit again, i suspect i may have a legal case as they HAVE NOT CLOSED my account and it does not appear i'm in any sort of "charge-off" category.

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