I have held 2 hsbc credit cards - the master and the visa card - for over two years now. I have had an absolutely good experience with them. the cards have never been rejected at any counter (though that of course would be more of a reflection of the credit status of the holder). the reason I say this is that I have seen incidents where the amex cards have been rejected. the phone-banking service that the bank provides for credit card holders is good and the guys (actually more gals) on the other end of the line always respond with ’’A SMILE IN THEIR VOICE’’. I have never been wrongly billed, nor have ever had any reason to complain. their rewards scheme (you get one point for every 100 rs. spent) is a good scheme and you can redeem the points earned against the annual fees. the annual fees at 700 is a bit steep compared to some of the other cards, but the convenience of the large number (and growing) of atms makes up for it.
THIS WAS BEFORE I WAS RUDELY AWAKENED!!!!
now, I longer have hsbc cards...
i gave both of them up!!!
to start with, I was receiving calls from their dsa (direct selling agents) at all times of the day offering me a free card. the modus operandi was quite simple - they would call up on my mobile, ask if I had any credit cards - then proceed to ignore my statement that I have 2 hsbc cards and offer me another one!!!
in response to what would I do with another hsbc card, they would very helpfully inform me that its free!!!
i asked to be taken off their cold-calling list, which only resulted in more calls!!
finally I called up hsbc and asked them to discontinue both my cards...
i was asked to submit a letter in writing. which I did through the atm drop box.
i received a renewal fee bill the next month. when I called up, they told me that I have to inform them in writing!! I faxed them the same letter.
next month I got a bill for the renewal (which had gone unpaid) with a late fee and service charges. they called me up for payment, I explained the situation, was asked for something in writing, I dropped the letter in the drop box.
next month I got.....
and...
next month I got...
finally I stopped responding to the bills and calls.
WOW!!! THIS WAS ONE PROBLEM THAT WENT AWAY AFTER I IGNORED THEM!!!
guys, stay away from hsbc cards! this is one headache you don’t want!!!