HSBC - Changes to Credit Card Agreement

I_M_S

Afternoon all,

This is my first post so please be gentle with me!

i've just recieved a note in my HSBC credit card statement with a number of changes to their terms and conditions (16 pages!)

Summary of changes I have noticed are as follows

Most important changes (as far as I see them!) first

1) Application of payments - Very important one for Stoozers! -
Basically the order payments are applied has changed - it was applied on other balances then balance transfers (meaning you could use the card and protect that interest free balance transfer) - Not any more!
Now charges apply in this order :- PPI premiums, charges and interest, then transaction in the following order , Promotional rate Balance transfers, purchases and normal balance transfers, cash advances


2) Dormant charges
If you havent used your account or card for more than 12 months "we may impose a reasonable charge" we will give you 30 days written notice

3) Introductory rates
Introductorary rates will not apply if you have had a credit card agreement with HSBC when , or in teh 6 months before you applied.

4) Debt recovery overseas
we may appoint other members of the HSBC group to act on our behalf to facilitate debt recovery overseas
(so no running up huge bills and skipping the country to Hong Kong!)

5) Losses from theft loss or misuse
Without permission from you - you are liable for £0 ( I believe this was £50)
with permission from you - You are liable for the lot!

There look to be a lot more changes as i said above -but these seem to be the key ones


Sorry its not better news for a first post!

Ian