Friday, December 16, 2011

Credit card closed due to inactivity?

Word of warning! Do not get a credit card from Household Bank (HSBC)!! They are very quick to close your account due to inactivity and will refuse to reinstate it. You would have to reapply and have a credit inquiry on your record (something I would NEVER give them the privilege to do again!). I heard other cards do this but if you are a customer with a good history they will just reinstate it at your request with no problem. I escalated the issue to a manager and asked if there was something in the fine print that states this policy that I may have overlooked. The manager mentioned that it was not specifically stated however their policy allows them to close an account for any reason. This is the type of reputation that HSBC wants and I want to make sure that everyone knows about it. Does anyone know of any other credit card companies that choose to be this customer unfriendly?

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