HSBC Letter - We are clearing your outstanding balance!

Phantasma

I've had a letter from HSBC today that says 'as a gesture of goodwill, we are clearing the outstanding balance on your credit card'. Although it falls into the 'too good to be true' category, they are not asking for anything, it's simply a statement that my direct debit will cease on 29th February.

I only have one credit card, which was taken out with Beneficial Finance many years ago and while I've paid others off, this is one that I've allowed to 'linger' with intention (rather than action) to transfer to another company and pay it off at 'some point'. I believe BF were taken over by HSBC at some point in the past.

There's a few thousand still on it... just wondering if this is 'too good to be true' or if there's any known reason why they may be doing this?

MorningcoffeeIV

It happens from time to time.

Use your saved money wisely.

RubyMax28

I would call their customer service team to check. It does sound too good to be true and scams are a) so prevalent and b) so sophisticated these days that, if I was you, I would want confirmation that this is indeed authentic.

Very much hoping for you that it does indeed turn out to be a true gesture of goodwill - good luck!

adamp87

Would be an odd scam in all honesty.

Most likely there’s issues with the debt perhaps contractually or something wasn’t done properly and it’s easier to just take hit (especially if it’s not been paid off fast) now than have something bite them later.