HSBC GM Card

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Category: Business & Finances

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HSBC GM Card Reviews

bk11102 May 25, 2011

Raised monthly interest!

This credit card company is a fraud. Unless you are planning on getting a GM vehicle, do not get this card! You can't use the "earnings" for anything else, other than a car, and even so, they give you very little points. My main complaint about them, however, is that they hiked up my APR by 15% just before a bill was passed that would prevent companies from doing this. I have never missed a payment on my credit card, never late, and always paid more than the minimum. These opportunistic crooks will rob you blind! I am stuck paying 25% in interest every month! After that they actually had the nerve to send me an email saying that they have noticed that I haven't been using my card. REALLY???

GM Card Blues August 26, 2009

GM Dollars stolen

I held a GM Card issued by HSBC for over 10 years. I never had a late payment. I had accrued over $5, 000 in "GM Dollars". HSBC sent me a letter stating that my credit card was being canceled for the sole reason of "lack of use". I would have 3 months to use my GM Dollars (I could only use a $1500/car purchase) and then they would be forfeited. I didn't need 3.3 new GM cars at the time, so that's what they did: My $5, 000+ GM Dollars vanished. I seems to me I lost $5000 and HSBC gained $5000 and I didn't do (and wasn't even accused of doing) anything wrong. How is this not stealing? I'm certain their lawyers figured out a way to make it legal, but its wrong. Has this happened to anyone else?