They do it because they CAN! Actually, I have card with Orchard Bank, which is same as HSBC.HSBC card has a low interest rate, so did Orchard when I signed up back in November. However they did not send me 1st statement therefore I had not paid the bill. They then sent me the next month's statement, late fee included. I called up telling them I had not received the 1st bill (which was honest) and they reversed the late fee and gave me back half of the annual fee because they did not want to lose me as a customer...oh boo hooo. The next... read full review »