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Hsbc - Urgent Help Needed Please!


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I've been following the proceedure for getting my money back from HSBC Card Services. The last letter I sent was on the 14/9/06 - the letter before action -for £194

This morning I received a reply as follows:

Thank you for your letter of 14 September, regarding the defalut charges that have been applied to your account.

Default charges are payable if customers do not make the required minimum payment by the due date, if they exceed the credit limit or if a payment to their credit card account is returned unpaid. The amount of these charges and the circumstances in which they are applied is set out clearly in HSBC's credit card agreements We believe that HSBC's charges to customers are fair and reasonable.

The OFT has recently published the findings from its enquiry into defaul charges on credit card. HSBC has carefully considered the OFT's publication and does not accept its findings. However teh OFT's investigation has led to a change in market practices and HSBC has therefore decided for commercial reasons and in the interests of customers to reduce its card default charges for the future. These changes do not affect charges that have already been applied. Accordingly I regret that we are not prepared to agree any refunds or default charges or provide any compensation payments. I hope I have been able to clarify HSBC's position on credit card charges.

Has any one else received this letter? What do I do now? Do I carry on to Moneyclaim?

Can they just not accept the OFT's findings???


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Just one of theyre blah, blah letters, don't get scared Julie. Go on and show your teeth, they can do nothing about it, except, go to court and admitt they overcharged customers for years. Like the telly ad with the big bloke, ( Doesn't work like that! ), but it does. Dont be scared, go for your money and have a laugh like the bloke who opens the door the other way!

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