Joseph
Vineland,#2Author of original report
Sat, January 27, 2007
dear chip: The HSBC policies are wrong They have issued me a zero balance. That doesn't correct the fact that they continue to employ tactics that are totally without business ethics and maybe illegal. The fact that The Senate is hearing tesitmony is proff of that. I want to be paid money fot the time it took me to correct their injustice against me. I want them to stop doing what they do. I do not want large firms to make profits for fees they did not earn. I was very upset by the methods they employed against me. I have to stand up for my pride. I am not a fool. If I hadn't taken much time to protect myself there would still be a charge of $35.oo agianst my account every month plus finance charges. Of course they issued a zero balance becasue they had no basis for charging me. If they were ethical they would have removed the first charge against me the first time I called instead of threatening me with more charges and insisting on collecting. If you never had a problem fine; but they have a policy of bogus charges and cannot prove the basis for those charges. I ask you Chip where do work and what is your reasoning for defending HSBC.
Joseph
Vineland,#3Author of original report
Sat, January 27, 2007
dear chip: The HSBC policies are wrong They have issued me a zero balance. That doesn't correct the fact that they continue to employ tactics that are totally without business ethics and maybe illegal. The fact that The Senate is hearing tesitmony is proff of that. I want to be paid money fot the time it took me to correct their injustice against me. I want them to stop doing what they do. I do not want large firms to make profits for fees they did not earn. I was very upset by the methods they employed against me. I have to stand up for my pride. I am not a fool. If I hadn't taken much time to protect myself there would still be a charge of $35.oo agianst my account every month plus finance charges. Of course they issued a zero balance becasue they had no basis for charging me. If they were ethical they would have removed the first charge against me the first time I called instead of threatening me with more charges and insisting on collecting. If you never had a problem fine; but they have a policy of bogus charges and cannot prove the basis for those charges. I ask you Chip where do work and what is your reasoning for defending HSBC.
Joseph
Vineland,#4Author of original report
Sat, January 27, 2007
dear chip: The HSBC policies are wrong They have issued me a zero balance. That doesn't correct the fact that they continue to employ tactics that are totally without business ethics and maybe illegal. The fact that The Senate is hearing tesitmony is proff of that. I want to be paid money fot the time it took me to correct their injustice against me. I want them to stop doing what they do. I do not want large firms to make profits for fees they did not earn. I was very upset by the methods they employed against me. I have to stand up for my pride. I am not a fool. If I hadn't taken much time to protect myself there would still be a charge of $35.oo agianst my account every month plus finance charges. Of course they issued a zero balance becasue they had no basis for charging me. If they were ethical they would have removed the first charge against me the first time I called instead of threatening me with more charges and insisting on collecting. If you never had a problem fine; but they have a policy of bogus charges and cannot prove the basis for those charges. I ask you Chip where do work and what is your reasoning for defending HSBC.
Joseph
Vineland,#5Author of original report
Sat, January 27, 2007
dear chip: The HSBC policies are wrong They have issued me a zero balance. That doesn't correct the fact that they continue to employ tactics that are totally without business ethics and maybe illegal. The fact that The Senate is hearing tesitmony is proff of that. I want to be paid money fot the time it took me to correct their injustice against me. I want them to stop doing what they do. I do not want large firms to make profits for fees they did not earn. I was very upset by the methods they employed against me. I have to stand up for my pride. I am not a fool. If I hadn't taken much time to protect myself there would still be a charge of $35.oo agianst my account every month plus finance charges. Of course they issued a zero balance becasue they had no basis for charging me. If they were ethical they would have removed the first charge against me the first time I called instead of threatening me with more charges and insisting on collecting. If you never had a problem fine; but they have a policy of bogus charges and cannot prove the basis for those charges. I ask you Chip where do work and what is your reasoning for defending HSBC.
Chip
Anytown,#6Consumer Comment
Fri, January 26, 2007
Move on. HSBC closed your account with a 0 balance. You've been made whole. When I'm waiting at the BMV for 4 hours to renew my license plate, I am not gooing to request they reimburse me for my time. Your time and effort paid off in the end, barring any bogus entries in your credit file. To Elizabeth: You frankly are a pissant who thinks she's more important than she is. I'm sure your company's Compliance department would have you reprimanded or fired in an instant if they knew you were posting such messages. To everyone else: I have an HSBC Platinum Mastercard. I never have had a problem with them. I make my payments online, though, either through the HSBC website or through my bank. I've never had to speak with them on the phone.
Joseph
Vineland,#7Author of original report
Fri, January 26, 2007
Professor Warren addresses Congress in the battle over U.S. credit card regulation Post Date: January 25, 2007 Professor Elizabeth Warren On January 25, 2007, the US Senate Committee on Banking, Housing and Urban Affairs heard testimony on the issue of credit card company policies and their effect on the American consumer. The hearing opened with testimony from HLS Professor Elizabeth Warren, a leading bankruptcy expert and consumer protection advocate. Director of the law school's Bankruptcy Project, Warren is author of "The Two Income Trap: Why Middle Class Mothers and Fathers are Going Broke." One of several experts called upon to speak about credit card company practices, Warren testified that the current lack of industry regulation allows for sky-rocketing fees and penalities to be charged to the consumer. Click here to read Warren's testimony. (pdf file) To view a webcast of the hearing titled, "Examining the Billing, Marketing and Disclosure Practices of the Credit Card Industry and Their Impact on Consumers," please click here. Real Player required.
Joseph
Vineland,#8Author of original report
Sat, January 06, 2007
I agree with above author. i did write and it did work. I learned that Barney Frank (D) Rep. in DC is now Chairman of the Financial Services committee and he is dedicated to bringing back fair wages to workers and give American a small piece of the dream we were born to claim. The rich have gotten rich enough. So write to him and never pay what you shouldnt pay if you dont owe it. Yes the industry pays off it's employees and itself by earning money uneithically. It s time to regulate the crooks. Joseph Vineland nj happy new year to the good guys
Gayle
Las Vegas,#9Consumer Suggestion
Sat, January 06, 2007
I pay my bill on line. I pay it a week ahead. However, I too have been hit with these fees on several occasions. Credit card companies have a billing cycle and a due date. This is often used to "screw over" the customer - especially ones who keeps their cards maxed out. These companies make hundreds of thousand, maybe millions, per month on this practice. They also allow customers to go over limit in order to tack on fees. Their excuse is "We didn't want to embarrass the customer with the store." Horse pucky. Please contact your state and federal representatives - Senators and Representatives - and ask them to put a bill forward that prohibits credit card companies - HSBC, Orchard, Household, Wamu, Cap One, etc from continuing this practice. Store credit cards DO NOT allow customers to go over limit nor do they tack fees onto interest. The only way to beat these people is to do it through legislation. Talking to a phone clerk at customer service accomplishs nothing. They're just there to collect a pay check. They don't care, and they have no or minimal authority. Contacting the CEO only gets your letter passed back to a costumer service person. So please contact your Sentor and Representative and ask them to present a bill either nationally or in your state. Don't tell them your story. Simply tell them you want a stop put to the practice. Then have your friends, neighbors and family do the same thing.
Joseph
Vineland,#10Author of original report
Thu, January 04, 2007
I asked HSBC to send me a competle copy of their late fee policy and how it applies to the fact they charged me 35.00 every month etc. for a payment the recieved in full and complete or at worst within a few hours of deadline. they sent me today just a copy of a card i signed when i opened the account years ago. As i understood their rep on phone you agreed to open account now deal with the greif. well my point is you cannot charge people fees for now reason. and as it stands now they have proven no reason for the charges and i remain in dispute and the incovenience of having to protect myself from BOGUS CHARGES.
Joseph
Vineland,#11Author of original report
Sat, December 30, 2006
the point was i have always paid my entire balance at the end of every month. every month HSBC made no interest on me. So they decided to trump up bogus fees to see if they could make money from me knows who else. There is no reason to pay three weeks in advance as long as bills arrive when due companies should not threaten and penalize people inappropriately. What is the point to your comment. I am truely convinced that the two comments in support of HSBC are bogus as well posted by the company to protect their devious practices. I am insulted by the comment to pay bills three weeks in advance and being call a sob story. I am a customer and i dont wish to be threatened or ripped off by corporate unregulated greed. Joseph
Robert
Southampton,#12Consumer Comment
Sat, December 30, 2006
I have had 2 accounts with HSBC for well over 4 years now, not a single problem and I do use the cards. I pay online (my account to theirs so I have records), at a minimum one week prior to due date, sometimes 3 weeks prior. And always 4X minimum payments due (e.g. if $15 due I sent $60) or entire balance (never after paying balance have I had any fees). HSBC raised my interest to 9.9%, I called them, asked why they said "as per contract", I said "close account", they dropped it back to 3.9%, I'm happy again. I am not their favorite customer, low interest rate, never having to pay late fees, pay extra ever month. Bottom line, pay early, on time, atleast minimum due. It is the poor paying customer that pays the fees that help me have a lower interest rate.
Robert
Southampton,#13Consumer Comment
Sat, December 30, 2006
I have had 2 accounts with HSBC for well over 4 years now, not a single problem and I do use the cards. I pay online (my account to theirs so I have records), at a minimum one week prior to due date, sometimes 3 weeks prior. And always 4X minimum payments due (e.g. if $15 due I sent $60) or entire balance (never after paying balance have I had any fees). HSBC raised my interest to 9.9%, I called them, asked why they said "as per contract", I said "close account", they dropped it back to 3.9%, I'm happy again. I am not their favorite customer, low interest rate, never having to pay late fees, pay extra ever month. Bottom line, pay early, on time, atleast minimum due. It is the poor paying customer that pays the fees that help me have a lower interest rate.
Robert
Southampton,#14Consumer Comment
Sat, December 30, 2006
I have had 2 accounts with HSBC for well over 4 years now, not a single problem and I do use the cards. I pay online (my account to theirs so I have records), at a minimum one week prior to due date, sometimes 3 weeks prior. And always 4X minimum payments due (e.g. if $15 due I sent $60) or entire balance (never after paying balance have I had any fees). HSBC raised my interest to 9.9%, I called them, asked why they said "as per contract", I said "close account", they dropped it back to 3.9%, I'm happy again. I am not their favorite customer, low interest rate, never having to pay late fees, pay extra ever month. Bottom line, pay early, on time, atleast minimum due. It is the poor paying customer that pays the fees that help me have a lower interest rate.
Joseph
Vineland,#15Author of original report
Wed, December 27, 2006
Brandi Pardo, Executive Liason writes: I apologize for the frustration this matter has cuased you. Your account has been credited to a zero balance. We (HSBC) are unable to comply with your request for compensation for the time you spent attempting to resolve this matter. __________________________________ I asked for $100.00 and still do because I firmly beleive that asking for 107.00 late fee when receiving an entire amount due in full hours late during a postal holiday week is unethical, criminal, and intimidating. I think that without proof of late arrival of payment or any policy relating to receipt of payment relevant to my specific situation warrants undo hardship and their attempts to collect fees is out of bounds for what a reasonable person should be asked to endure. I also think that if in fact payment was received hours late but no additonal monies where due that any accounting problem released by the charging firm is their cost of doing business. The attempt to collect by deflating a customers finacial record is itimidation and should be illegal.... As well, as I did not appreciate having to expend all the work and hours, etc. to clear my burden. I am unemployed and searching for work. I have no time to fight for my credit rating or hard money earned by oportunist corporation. ( note I have not received any assurance that my credit rating has not been injured by this incident) My bill to Bobby Mehta , Household Bank Credit Services stands and is due for 100.00 plus late fees. Joseph, N.J.
Joseph
vineland,#16Author of original report
Fri, December 22, 2006
I was refunded all the charges by the company. because they are criminals and throught the help of the better business bureau of illiois justice was done i was not late and the above comments from hsbc employee elizabeth are example of how rigid and guilty they are they sound like george bush jr. defending occupying Iraq i want this outrageolus and expoitive behavior to stop i dont think that reasonable people should be held to a stop clock system i mailed that final payment in full I hope you bank people are listening you work for the devil you prey on people just hoping you can zonk em i had made a complete payment on time and the company provided no proof to me of the policy on why they charged me 107.00 in fees or a copy of the date they received it i can only assume that such a ridiculous amount charged for a complete balance paid in full remember i only owed 21.39 as my whole balance to HSBC and i paid it so there was no loss to them even if they got it ten days late but i dont think it was late even a minute i have a zero balance now and i want $100.00 from HSBC for all the time and letters and postage to save my credit rating ( which they still may attack) and the hours on the phone i wrote to nj attorney general us attorney general in houston the CEO Mr Mehta and tv 6 in Phila. if i didnt they were going to charge me til i die i asked Teresa Johnson if that was true and she said yes and was threateing by credit rating she sounded a lot like elizabeth above. if you dont like sob stories stop rippin off people and falsing charging them and intimidating them As i told the lady on the phone GET A REAL JOB I WANT MY 100.00 hsbc AND I WANT U TO ACT RIGHT! OR SELL OUT AND QUIT THE BUSINESS YOU DONT BELONG IN MY COUNTRY
Chris
33702,#17Consumer Comment
Fri, December 22, 2006
I wanted to take a few moments to respond to Elizabeth's comments. I'm a new HSBC account holder who was doing research on another company. I though I would pop HSBC in just to see what kind of reports they have. To date I've not had any problems with my account. What disturbs me about HSBC is the posts from you, Elizabeth. You're right, I hope I never call and get you as an associate dealing with an issues that I might have. Frankly, your attitude towards HSBC customers is terrible. I was especially socked out how you assume that all of HSBC account holders are high risk customers. HSBC isn't just a high risk lender, I have a great credit score and I recent opened an account with HSBC. No matter how distasteful you my find it that borrowers don't pay on time, those exact customer are the reason that you have a job. Thank God I have not accumulated any balance on my card with HSBC, because I will be calling to close this account immediately. When your retention department asks me why, I will happily give them your name and refer them to your comments on this site. You are quiet frankly, out of control!
Elizabeth
Nonyabusuness,#18UPDATE Employee
Wed, December 20, 2006
I work for HSBC and wish I had a dollar for all of the pathetic sob stories I've heard from people like Joseph. First there is 1 and only 1 way to avoid late fees and finance charges...... PAY YOUR BILLS ON TIME! You CANNOT mail your payment at the last second and expect it to arrive overnight. I know that this may seem like a foreign and perhaps even vulgar concept but have you ever considered mailing your payments early??? Not waiting until you are in the position where the company is recieving your check 12 hours or even 12 mins late?? I always tell people when they threaten legal action to go ahead. Waste your time. Unless you send your payments certified mail and can prove that it was recieved at a specific time and not posted you've got nothing. Good luck and pray you never get me on the phone because I have no sympathy for people like you.
Joseph
vineland,#19Author of original report
Wed, December 13, 2006
I spoke with collector Teresa Johnson HSBC and she said they will continue to charge me 35.00 per month till the day i die I have requested a copy of the policy that allows them to do this they say i am billing Mr Metha CEO 100.00 for the five hours of admin work i have done. due and with a 35.00 month late fee She told me i agreed to these terms what i have requested is a copy of the time and date they received my entire balance due in full now at this point it seems to be it arrived one day late but it may have been an hour late or not even true i have to take their word for it. I dont know bout you but when i grew up america did not do business this way i was contacted by Nydia Han at abc phila news and they will do a tv story on this when the balance gets higher I say that its total extortion and mafia shakedown business tactics In general does a reasonable person have to time mailing to include consideration of a postal holiday and time the mailing to the minute. and should credit cards charge a late fee then a late fee on a late fee and finance charge if they received the entire amount due in total within a reasonable timeframe? NO i have contacted two better business bureaus and nj attorney general and us attorney in Houston consumer credit advisors and wrote several time to CEO and call them everyday if i can be intimidated and harassed and threatened by a bogus charge then i can give it right back and waste their time and money I intend to never pay this bogus charge and will take all the heat even if the balance goes to $5000.00 which ms Johnson assured me it would go to. Its a great country. more to come Joe remember this is all because they say they received my full entire payment of 21.39 a few hours late.