HSBC Watch News Release Forum Index
Forum Name: - HSBC Fees
Topic Title: Burnt for $45 When Terms Said No Fee
Tue Jun 20, 2006 8:49 pm
CP in Texas tells us "I applied for and accepted a Household bank credit card back in Feb.2006 under the terms of no annual fees, no interest rate for a year, and two free transfers. I made the second transfer to my account, only to be alerted after the transaction was made and approved that my account was over the limit. It turned out that they charged $6 for the transfer, which put my account over the limit, then charged a $35 over the limit fee. Customer service basically told me that I should have been smarter to realize that this transaction would put me over the limit, and when I replied that I should have not been charged, they told me that the last offer (2 free transfers) had a 65 day limit. I then asked to be sent a copy of my contractual terms, and they ended up sending me a privacy agreement and another form to inform me that interest rates had risen in general- both of which included none of the relevant information. Customer service told me that they would only waive the fee if I kept my account open, but I chose to close it- that of which I'm not sure they have done yet. They also told me that I should have been sent an email containing information about the balance transfer fee, but I received nothing- they just did it, and then informed me that my account was overdrawn. I have contacted the BBB, and FTC, etc. - but BBB has not been helpful. So HSBC wins once again. Yeah, it's only 45 bucks, but that really adds up when they've done it to several thousand people."
Editor's Note: This could have been filed under credit cards, fees, customer service, etc., but we put it here. These shady tactics cover so many categories.
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