Complaint Review: HSBC Direct Merchant
- HSBC Direct Merchant
8020 Corporate Drive
- Phone: 888-333-2201
- Category: Credit Card Processing (ACH) Companies
HSBC Direct Merchant Credit limit cut with no notification Baltimore Maryland
I had no idea what was going on, so I tried to use the card again. I called them and was told they were making a "business decision". That's fine but I think they should have given us at least 20 days notice so we could adjust our spending/payments.
They did say they would not charge over the limit fees, but I try to keep my cards under the 50% limit to help my FICA scores.
I think that the manner this was done in was unethical, I understand they are attempting to control their exposure but by not informing people is bordering on breach of contract.
I have decided and for all those who can we should make a "business decison" we should payoff or pay down the balance, use the card for extreme emergencies, or use it for 30 days and pay off each balance at the end of the month. but be sure to keep it open because closing accounts hurt your FICA scores.
somewhere in PA
This report was posted on Ripoff Report on 03/07/2009 02:42 AM and is a permanent record located here: http://www.ripoffreport.com/reports/hsbc-direct-merchant/baltimore-maryland-21236/hsbc-direct-merchant-credit-limit-cut-with-no-notification-baltimore-maryland-431690. 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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