HSBC closed account

Date: Sun, 06/06/2010 - 09:27

Submitted by raymond culwell
on Sun, 06/06/2010 - 09:27

Posts: Credits: [Donate]

Total Replies: 2

household bank closed my wifes credit card. They left the interest rate at 28.9 on the cash advance balance. I live in texas and thought there was a maximiuim of 18% if they close account with no agreement. Someone told me it was 9% but am not sure how reliable the source was.

One important thing that many people overlook is the original co

One important thing that many people overlook is the original contract itself. They may have a provision in the credit agreement that states "This agreement shall be governed by the laws of the state of ___", which means that the entire agreement is not subject to Texas laws. You should look at the original agreement to check if there is such a provision....

lrhall41

Submitted by skydivr7673 on Sun, 06/06/2010 - 13:03

( Posts: 2036 | Credits: )

Hi, Once you sign an agreement please make it sure to read all

Hi,

Once you sign an agreement please make it sure to read all the terms and conditions well so that you can be aware of all the minute details that is mentioned in the agreement.Laws are different in the different states of the US.It is probable that the agreement is void in Texas and not in California.It is however not wise to believe in any source ,rather you should go through the laws regarding credit cards of the different states to get an authentic answer!

lrhall41

Submitted by Rebecca Miller on Mon, 06/07/2010 - 17:16

( Posts: 131 | Credits: )