Accountcentral By HSBC Credit Limit lowered without warning Levittown Pennsylvania

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.

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.

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?

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 :(

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.

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.

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!

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!

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!