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Report: #426089

Complaint Review: Accountcentral By HSBC - Levittown, Pennsylvania Nevada

  • Submitted:
  • Updated:
  • Reported By: Levittown Pennsylvania
  • Accountcentral By HSBC accountcentralonline.com Levittown, Pennsylvania, Nevada U.S.A.

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I have been with Account Central HSBC for over 8 years with a credit limit of 5K. Today without any warning I notice my credit limit was reduced to a paultry 1,220 leaving me with available funds of only $25! How they came up with this odd amount is beyond me. On average I charge over $1500 per month and pay the account off in full each month.

I immediatedly called and was told it was not personal but that credit limits were reduced accross the board to every account holder. I asked the rep why wasn't I informed of this action, she said a letter would follow shortly. I said, don't you think that is putting the cart in front of the horse?! And, more importantly, what if I had an emergency and needed the cash or available funds. What the heck can I do with $25! Did this bank get slighted on the bail out funds? Did they cut everyones limit due to filing a Chapter 11 or something?

This action will surely make my FICO score drop as it will appear that I am maxed out. I am really upset with this company for not being forth right in their decision to drastically lower my credit limit for truly no logical reason! A $3,780 drop is really a slap in the face!

Jan
Levittown, Pennsylvania
U.S.A.

This report was posted on Ripoff Report on 02/19/2009 12:12 PM and is a permanent record located here: https://www.ripoffreport.com/reports/accountcentral-by-hsbc/levittown-pennsylvania-nevada/accountcentral-by-hsbc-credit-limit-lowered-without-warning-levittown-pennsylvania-426089. 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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REBUTTALS & REPLIES:
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#9 Consumer Comment

Same here, and another card did the same.

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

POSTED: Thursday, March 12, 2009
HSBC did this to me also, and so did Juniper bank. I had over 50% credit on both of them free, and now they both lowered my limit close to my balance, and now my credit score has lowered because it looks like i'm maxing my cards out. So obviously the whole "credit score" system is screwed up and shouldn't even be valid anymore, as i'm sure all of the banks are doing the same thing with their cards so it's gonna look like everyone in america is maxed out.
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#8 Consumer Comment

They did it to me as well

AUTHOR: Passive Agressive - (U.S.A.)

POSTED: Monday, March 02, 2009
I just went to pay my bill noticed that my credit line was cut by to one third of what it was a month ago. I have never been late and always paid my account in full. When I called (to India), they gave me the same song and dance.

What angers me is that by cutting credit lines on people without bad credit or payment histories, they are in effect, propogating the current economic downturn. Although this card was for business use only and I can always use my personal card, this will impact those who don't have backups. They won't buy on credit, or perhaps at all, and so the crisis deepens.

HSBC is supposedly trying to raise money through a new stock offering. I wouldn't touch that one. Instead, I am cancelling my account.
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#7 Consumer Comment

HSBC credit limit decrease

AUTHOR: C! - (U.S.A.)

POSTED: Saturday, February 21, 2009
I have filed a similar report concerning a similar action taken by HSBC on my MC credit card account (~$3400 credit decrease). Have you received the letter yet? Have you obtained any insights into what the consumer can do about this?
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#6 Consumer Comment

Same story here

AUTHOR: Y2mulder - (U.S.A.)

POSTED: Friday, February 20, 2009
My credit limit got chopped from $2500 to $300 on the 19th as well. Have not missed any payment of any kind for 4 years on any of my accounts. Never went over 20% of my available limit. Unreal.

Obviously, I couldn't get through on the phone yesterday :(
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#5 Consumer Comment

WOW!!! Same thing just happened to me

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

POSTED: Thursday, February 19, 2009
Same thing just happened to me, I have had a hsbc mastercard for over 3 years never late on a payment, never over the limit, paid at least triple the monthly payment due, kept my balance low. then BAM!! Out of no where my credit limit went to nothing and it showed I was over my credit limit. All in the course of a a few hours? I called and talked to a clueless supervisor who coulden't tell me why it happened, said I would get a letter in the mail explaining everything (I can't wait to read that BS). I hope they don't try and charge me over limit fees. I cancelled the card. And will pay it off when I get my final statement. Did or Did we not just bail out these Rip off artists with our tax money? I can't understand how a company that treats its customers with such disrespect can still be in business. I was a good customer I did the responsible thing and paid my bill. I would hate to see how they treat a problem customer.
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#4 Consumer Comment

WOW!!! Same thing just happened to me

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

POSTED: Thursday, February 19, 2009
Same thing just happened to me, I have had a hsbc mastercard for over 3 years never late on a payment, never over the limit, paid at least triple the monthly payment due, kept my balance low. then BAM!! Out of no where my credit limit went to nothing and it showed I was over my credit limit. All in the course of a a few hours? I called and talked to a clueless supervisor who coulden't tell me why it happened, said I would get a letter in the mail explaining everything (I can't wait to read that BS). I hope they don't try and charge me over limit fees. I cancelled the card. And will pay it off when I get my final statement. Did or Did we not just bail out these Rip off artists with our tax money? I can't understand how a company that treats its customers with such disrespect can still be in business. I was a good customer I did the responsible thing and paid my bill. I would hate to see how they treat a problem customer.
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#3 Consumer Comment

I also JUST had this happen on my wife 's and MY HSBC cards!

AUTHOR: Nick In Nj - (U.S.A.)

POSTED: Thursday, February 19, 2009
they made the limits so low that the ratio of used to available was OVER 95%... IT was less than 30% prior to that. This is a malicious action, they know that it will KILL our scores...this is gonna KILL me. I pay my bills above and over the minimums, I am never late. I spent over 2 hours on hold only to get non english speaking people basicall blow me off...I am SO mad i could spit nails!
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#2 Consumer Comment

I also JUST had this happen on my wife 's and MY HSBC cards!

AUTHOR: Nick In Nj - (U.S.A.)

POSTED: Thursday, February 19, 2009
they made the limits so low that the ratio of used to available was OVER 95%... IT was less than 30% prior to that. This is a malicious action, they know that it will KILL our scores...this is gonna KILL me. I pay my bills above and over the minimums, I am never late. I spent over 2 hours on hold only to get non english speaking people basicall blow me off...I am SO mad i could spit nails!
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#1 Consumer Comment

I also JUST had this happen on my wife 's and MY HSBC cards!

AUTHOR: Nick In Nj - (U.S.A.)

POSTED: Thursday, February 19, 2009
they made the limits so low that the ratio of used to available was OVER 95%... IT was less than 30% prior to that. This is a malicious action, they know that it will KILL our scores...this is gonna KILL me. I pay my bills above and over the minimums, I am never late. I spent over 2 hours on hold only to get non english speaking people basicall blow me off...I am SO mad i could spit nails!
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