HSBC Closed my Credit Card - Discussion

[sjmajumder]

HSBC has closed my CC on 29th November. This is outrageous.

I had asked them to transfer the compensation amount of Rs. 20,000 to my SB Ac. After 2/3 mail exchanges they transferred the amount on 29th Nov to my SB Ac.

Till this morning, I was completely unaware of the fact that the card has been closed. I have not received any mail/call/SMS. When I logged into HSBC net banking this morning, I couldn't see any card. Then logged into mobile app still no card. Finally decided to try a transaction on Amazon. The payment page redirected to HSBC with an error message. Then I called up HSBC and I was told the card has been permanently closed by bank on 29th Nov (same date when the credit balance was transferred to my SB Ac). He couldn't give me the reason as it is not available in the system and said I will receive a mail with the reason for the same.

I have mail from nodal officer on 29th stating they are transferring the amount to my SB Ac. and from complaints management on 30th stating my complaint is closed. No further mails apart from marketing mails which is still coming.

Can bank close my CC without my consent and knowledge and not even intimate me after closing it? What should be my course of action?

@TechnoFino @Aniket @SSV @HumorSimpson (please tag relevant people)

 

[Strange]

Update:

• PNO has not yet replied to my December 9th mail.
• HSBC sent me zero balance statement on 20th December. Last transaction on 29th Nov - credit balance refund.
• Card now reflecting in CIBIL as closed in November 2024.

Did they reinstate your card?

 

[sjmajumder]

Did they reinstate your card?

They just woke up from their sleep and replied after a month asking for 5 days, and then again 5 days.

 

[Deleted member 50494]

As a self employed individual, while applying for an HSBC credit card, I had provided a fake salary slip and also faked my bank statement with salary credit entry. The credit card application was consequently declined. Can HSBC bank blacklist me for this? Also will it affect my future credit card applications from different banks?

 

[sjmajumder]

While applying for an HSBC credit card, I had provided a fake salary slip and also faked my bank statement with salary credit entry. The card application was consequently declined. Can the bank blacklist me for this? Also will it affect my future credit card applications from different banks?

Why did you need HSBC CC? You could have faked that too

@HumorSimpson

 

[Deleted member 50494]

Why did you need HSBC CC? You could have faked that too

@HumorSimpson

I need Live+ credit card for offline grocery spends

 

[sjmajumder]

I need Live+ credit card for offline grocery spends

Don't remember when was the last time I spent on offline grocery...guess never after COVID. BigBasket, Jiomart, Amazon Fresh, Instamart and Zepto does it all for me (no I didn't miss Flipkart and Blinkit, I just don't use - why? I myself don't know)

 

[Deleted member 50494]

Don't remember when was the last time I spent on offline grocery...guess never after COVID. BigBasket, Jiomart, Amazon Fresh, Instamart and Zepto does it all for me (no I didn't miss Flipkart and Blinkit, I just don't use - why? I myself don't know)

I live in a Tier 3 city so unfortunately offline grocery is the only option for me 🙂

 

[sjmajumder]

Finally HSBC replied after getting my second reminder asking for 5 days. At the end of 5 days they asked for another 5 days. And now at the end of 10 days received a mail stating your complaint has been closed, please visit HSBC website for grievance redressal policy.

Yes, simply closed without any resolution...I guess I don't need to tell anyone in this forum what's going to happen next

 

[tachniki]

Finally HSBC replied after getting my second reminder asking for 5 days. At the end of 5 days they asked for another 5 days. And now at the end of 10 days received a mail stating your complaint has been closed, please visit HSBC website for grievance redressal policy.

Yes, simply closed without any resolution...I guess I don't need to tell anyone in this forum what's going to happen next

Bank should have new field in account opening form - successful rbio resolution. For anyone with more than 5, bank should upgrade customer to the highest tier and take better care. 😀

 

[cardio_guycardio_guy is verified member.]

After SC, HSBC is the most difficult bank to deal with. Not at all transparent, and very difficult to navigate thier systems. It's better to stay away from such miserable banks.

 

[Deleted member 50494]

Finally HSBC replied after getting my second reminder asking for 5 days. At the end of 5 days they asked for another 5 days. And now at the end of 10 days received a mail stating your complaint has been closed, please visit HSBC website for grievance redressal policy.

Yes, simply closed without any resolution...I guess I don't need to tell anyone in this forum what's going to happen next

Your bank balance will increase in coming days

 

[sjmajumder]

Your bank balance will increase in coming days

Registered complaint last night (technically today morning) 🙂

Update: Received SMS from HSBC stating complaint re-opened and again asking for 5 days for resolution 😀

 

[sjmajumder]

Registered complaint last night (technically today morning) 🙂

Update: Received SMS from HSBC stating complaint re-opened and again asking for 5 days for resolution 😀

Received ridiculous response form HSBC:
-------------------------------------------------------------------------------------------------------------------------------------------------------------
We refer to your email dated 09 January 2025 regarding your above-mentioned credit card.

We have investigated conclusively and confirm that the Primary credit card ending XXXX was closed as per RBI guidelines on 29 November 2024 since the credit cards was in DORMANT status. We would like to inform you that we have sent reminder messages to your registered mobile number xxxxxxxxxxx in the month of August and September 2024 confirming that your HSBC Credit Card ending with XXXX has not been used for over 3 months and you would require to transact on your card to enjoy seamless services.”
-------------------------------------------------------------------------------------------------------------------------------------------------------------


As per RBI Circular - RBI/2022-23/92, Master Direction - Credit Card and Debit Card - Issuance and Conduct Directions, 2022 section 8.(b) If a credit card has not been used for a period of more than one year, the process to close the card shall be initiated after intimating the cardholder. If no reply is received from the cardholder within a period of 30 days, the card account shall be closed by the card-issuer, subject to payment of all dues by the cardholder. The information regarding the closure of card account shall also accordingly be updated with the Credit Information Company/ies within a period of 30 days.

Further, I used the card on 11-Nov and spent the initial 1K given by HSBC. There is no way card can become dormant by 29/11.

 

[Talkwithfino]

Received ridiculous response form HSBC:

We refer to your email dated 09 January 2025 regarding your above-mentioned credit card.

We have investigated conclusively and confirm that the Primary credit card ending XXXX was closed as per RBI guidelines on 29 November 2024 since the credit cards was in DORMANT status. We would like to inform you that we have sent reminder messages to your registered mobile number xxxxxxxxxxx in the month of August and September 2024 confirming that your HSBC Credit Card ending with XXXX has not been used for over 3 months and you would require to transact on your card to enjoy seamless services.”


As per RBI Circular - RBI/2022-23/92, Master Direction - Credit Card and Debit Card - Issuance and Conduct Directions, 2022 section 8.(b) If a credit card has not been used for a period of more than one year, the process to close the card shall be initiated after intimating the cardholder. If no reply is received from the cardholder within a period of 30 days, the card account shall be closed by the card-issuer, subject to payment of all dues by the cardholder. The information regarding the closure of card account shall also accordingly be updated with the Credit Information Company/ies within a period of 30 days.

Further, I used the card on 11-Nov and spent the initial 1K given by HSBC. There is no way card can become dormant by 29/11.

This should ideally account for at least 30k in compensation
Not following RBI Guidelines is one part, but the audacity to mention the clause while knowing that they themselves are in the wrong light is some new level of low.

Imo, these are not false claims or misrepresentation but outright Fraud by the Bank.

 

[sjmajumder]

This should ideally account for at least 30k in compensation
Not following RBI Guidelines is one part, but the audacity to mention the clause while knowing that they themselves are in the wrong light is some new level of low.

Imo, these are not false claims or misrepresentation but outright Fraud by the Bank.

HSBC did not mention RBI clause...that is me. HSBC response is in blue font.

The funny thing is even after paying me twice 5K and 21K they are giving such ridiculous response. Do they really think I will not know RBI clause?

 

[Talkwithfino]

HSBC did not mention RBI clause...that is me. HSBC response is in blue font.

oops
read in too much hurry

RBI guidelines on 29 November 2024

this should still account for 20k at least

The funny thing is even after paying me twice 5K and 21K they are giving such ridiculous response. Do they really think I will not know RBI clause?

hahaha

 

[sjmajumder]

oops
read in too much hurry

this should still account for 20k at least

hahaha

I have asked for full 1L 🙂