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Name: Terry Lee

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Loyal customer for many years managing my account efficiently but now subject to extortionate APR which they refuse to reduce because I do not look like a threat to leave.

Having had a HSBC credit card for neatly 10 years I have had a largely positive experience. In difficult times post-university I was able to rely heavily on it. Now as a more affluent professional I have been subjected to regular increases in APR from the mid teens to a hefty, uncompetitive, embarrassingly exorbitant 27.9%. Compared to my other 3 credit cards, this compares least favourably (next to 15.9 and 18.9%) with MBNA and Halifax. But it remains the most convenient to use for work expenses because it is attached to my main current account. In order to reduce the APR, you must write to the mythical and uncontactable Card Services team who do not acknowledge your letter and do not respond. When you speak to customer services to chase, they cannot contact them or chase on your behalf. You must wait for an answer. Unless you open a complaint and 24 hours later the same team can update you. My APR was not reduced. Despite having a large sum in the current account I must not be deemed a flight risk to another bank. My risk profile must be low (I recently took out a personal loan with another bank and received the best possible rates). New customers are being offered a representative 18.9%. As an existing and presumably profitable customer my 27.9% seems like corporate robbery. You cannot close your credit card and reapply within 6 months without them re-opening your account with the previous rates. You are chained in by your loyalty and the inconvenience of switching. And last night we saw on Panorama that HSBC is robbing us all in a different way. Poor. Reviewed on: 10th February 2015