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HSBC Business Card cancelled without warning


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A week before Christmas I tried to use my HSBC Business Card only to have it declined. I had checked the balance by telephone prior to this and it said there was about 50% of the credit limit available on the card, so I double checked this at a cash which told me to contact the bank.

I rang the bank and after 2 calls and more than 2 hours on the phone, it transpired that the card had been cancelled, not suspended, and could not be reactivated. I had to apply for a new one and I would be more likely to be picked to compete in the 100m in Rio in 2016 before getting a new card with my credit record.

The only warning I received was a letter dated 11 October saying that by paying the business card, I had gone overdrawn and I had to pay in £80 in the next 7 days. As I had already paid in £800 in 4 days, I ignored this.

Anyway, during the calls they referred to a Default Notice which I had not yet received with the Christmas post and waited for this to arrive.

I have now received this and the wording has left me totally confused. It reads:

This notice refers to a credit agreement regulated by the Consumer Credit Act 1974 under account number 40xx xxxx xxxx xxxx.

You have breached the terms of the Payment clause of the Agreement, which requires you to pay the monthly contractual payment by failing to make the required payment. This is incorrect, the full amount was deducted from my business current account, which put the account £420 over the overdraft limit, but the payment was not reversed, and the payment was made to the card account to bring the balance back to nil.

You can correct this if you make a payment sufficient to clear the overdue amount of £xxxx.xx (the balance at the time of the letter) by 7 January 2014.

If the action required by this notice is taken by 7 January 2014 no further enforcement action will be taken in respect of the breach.

If you do not take the necessary steps we will terminate the agreement without further notice……well they did this three weeks early and the eight people I spoke to would not say anything more than it was a decision taken by the back office staff, who, of course, cannot be spoken to and the decision was totally irreversible.

I haven’t spoken to the bank since before receiving the letter and want to attempt to sort this out, as it completely screwed up our Christmas, as I still had things to pay out of the money on the card.

Prior to receiving the letter, I had accepted the situation, albeit wrong, However, I had gone over the overdraft limit and I did not want to waste energy on things I have no control over and accepted I had to move on.

However, on reflection, their action is a total contraciction of the letter which makes me feel someone has screwed up by cancelling the card too early, which probably is irreversible, and they are trying to cover this up.

Any advice on how I stand and how to tackle this prior to calling them would be gratefully accepted.



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I thought the agreement for a Business Card with HSBC was that the balance on the card had to be paid in full! When you get your statement you have to pay the full amount - in fact since the payment is by direct debit you have not choice except pay the full amount owed as that is what they will take, so although you may use the card as credit card its only until the next statement when you pay in full.



Surely the problem then is not with the HSBC Business Card itself but with the branch holding the account, who have allowed you to exceed the overdraft!

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HSBC say that because the accounts are linked together they cannot not pay the card.



I could understand more if they the current account was in default because of an unauthorised overdraft.

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