What qualifies a user-friendly credit card statement? Definitely not HSBC

The attributes should be simple and straight-forward. For example,

  • Complete list of transactions - when, where and amount of the transaction
  • Clear indication of the total amount outstanding
  • Clear indication of payment due date
The HSBC statement has no problem in the above areas but I find a major flaw in the layout, that is,

  • The payment due date is put next to minimum payment and the total amount outstanding is put far away.
I could be wrong but the only purpose of the arrangement I could think of being to confuse the customer to pay the minimum amount instead of the full payment.  And as a result, higher interest rate the bank could obtained.

I have asked HSBC couple of times for comments and possibility to change.  As expected, I receive no feedback on whether the layout is good and whether there is any plan to change.

Being a customer, I exercised the option to stopped using the card for my daily expenses.


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