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HSBC AND LOYALTIES - HSBC Bank
HSBC 

Newest Review: ... account and I didn't always have when I was on the move. However my major issues with HSBC started after graduation. I had got myself int... more

HSBC AND LOYALTIES (HSBC)

MsPlastic

Member Name: MsPlastic

Product:

HSBC
Date: 18/04/02 (937 review reads)
Rating:

Advantages: good internet service, plenty of branches

Disadvantages: high bank fees

I have been with HSBC bank for over 6 years, I have been I feel a good customer, regular credits going in etc.

Now I have a personal loan with them and credit card, I have NEVER missed a payment on these accounts,NEVER gone over my overdraft,a BIG BUT is coming though.

Most people I'm sure go through a "cash flow" phase, I hit it last month. I went for advise maybe a "payment holiday" in the case of my bank loan.

But NO, I had my switch card removed, overdraft removed and CREDIT CARD!!! I was then given a "Managed Loan". Does anyone understand what they mean by a "Managed Loan?"

The good thing is this loan is cheaper at 11%apr and yes it could be seen as a help,take credit card away no temptation.

Thing is I feel so downgraded as a person, The managed loan to explain a little more, it did pay off my credit card, overdraft and the settlement figure on the old loan at a cheaper rate.

But, I'm sure they could have left me with a Switch card, I had a monthly hitch and I can honestly say have been a really good customer.

As Dooyoo readers may know to have an unlimited package with an ISP you need a credit card or a least a switch card. I now have a Solo card which I refuse to use!!

My credit card account is still showing 0n my internet banking page, can I insist on having my card back? Can any Dooyoo reader throw light on this Managed Loan? Help needed

Summary:

Last members to rate this review:
(9 members total)
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Overall rating: Somewhat useful

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Last comments:
Ophelia

- 18/04/02

Sorry for the low rating but I think you need to go into more detail about their services in general. :)
Judgee

- 18/04/02

Tricky one, I think they do go overboared on these things. I am sure other people could advise you further but as far as I can tell they keep an I on you until the debt is repaid! I think you can get a credit card type thing though, I remember reading on here somewhere about one you purchase from a shop, a bit like a phone card, you know you give the shop keeper £20 and they give you a card to that value that you can use like a normal credit card until the amount is used up?


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