Credit card or prepaid card -- Closing your account -- Complaint #5035920

Complaint Overview

Complaint ID: 5035920

Company: HSBC North America Holdings INC.

Product: Credit card or prepaid card

Sub-Product: General-purpose credit card or charge card

Issue: Closing your account

Sub-Issue: Company closed your account

State: New Jersey

ZIP Code: 077XX

Date Received: 2021-12-22T12:00:00-05:00

Date Sent to Company: 2021-12-22T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I use a credit monitoring service. This morning I received an email from that service that my credit line with HSBC BANK USA was closed without my knowledge. This account has been open since XXXX of XXXX and has been in good standing the entire time. The account had no balance. I was on the phone with HSBC last month on XX/XX/XXXX. At that time the company pulled my credit history and gave me a credit line increase to {$8200.00}. Speaking at some length with XXXX different people this morning I was told that the line was closed for lack of use and that I should have received a letter warning me to use the line or it would be closed in the subsequent billing period. I never received such a letter. I wasn't given any such notice during my call on XXXX. Part of the reason for my call last month was that I knew that I'd be using more credit in the following month to take advantage of some generous offers on other cards and I was adding more credit to not XXXX up my credit utilization ratio. Assuming that this was all a mistake I gave each of the XXXX people I talked with a chance to remedy the situation. None did. Indeed they all told me that I'd need to apply for a new card. The final person said that HSBC wasn't accepting new card applications at this time. This company is terrible. I did all the things I was supposed to do. I monitored my credit. I over-communicated my credit usage in advance. I use their app. I open their emails. I read my mail. I didn't get any notification on the phone with them a month ago, and they admit they didn't bring the subject up. I didn't get any notification by email and they admit they didn't send any. I didn't get any push notifications on their app and they admit there wasn't one. All of my contact preferences on their site are ( and have been for years ) set to email communications and online statements. There are no communications listed from them digitally in their own system for this period. ( see attached screenshots ) For these reasons I find it highly dubious that at a time when they're not accepting new applications, they claim to have sent out a physical letter in the most congested logistical environment in the history of the country. As a consequence, my credit will suffer. It will b e more difficult to get credit. It will be more difficult for me to make investments in my business I had scheduled for the new year. It will be more difficult to replace the credit line in part because they made a hard pull of my credit just last month. It will be harder to get credit because a mature line of credit is no longer on my report. This credit line should be reinstated.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

Related Pages

• HSBC North America Holdings INC. Company Profile
• Credit card or prepaid card Complaints
• Closing your account Complaints
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