[CeliaOliveira]

I opened an account in HSBC in Brazil before immigrating to Canada. I was asked for all the paperwork, IR statements etc. I was granted a Premier account. I came to Canada in March and went to HSBC and opened an account and got a credit card. Now, six months later I apply for a Line of Credit, which Premier clients have pre-approved.
After I signed all the paperwork was told to wait until I got an email from my account manager saying that it was OK if I needed to use it, I could.
I closed a deal on a car that was $13,000 and the PLC approved was for $25,000. Whe went to get the certified check they told me it was on hold. The credit manager then called me and started asking all these questions, making me feel very humiliated and kind of saying that I was not eligible to have the client status that I had because I had done something wrong to get it.
Now I couldn't get the car but still had to settle fro another model which was not the type or value that I wanted because based on the email from the manager I had already given $500 that the dealer was not going to reimburse me.
They want to downgrade my client status and decrease my credit card limit and I fear that kind of action will affect my credit ratings as well.
I feel humiliated, angry and very disrespected by HSBC.
When I was leaving the branch, they gave me a gift photo frame. And that made me feel very offended as well.
Is there anything I could do?

[ScottGem]

You can sue, but I doubt if you will come close to winning. It will cost you money just to lose. I don't see any grounds for wrongdoing on the bank's part.

[JudyKayTee]

Ask for the SPECIFIC reasons you were denied credit in this amount. Have you checked your credit agency reports to make certain that they are correct and bad or incorrect information isn't posted?

What is the time frame that is involved? It is not unusual for banks and other lending institutions to periodically review their clients' finances and either increase or decrease a line of credit or credit card limit. Pre-approved also very often does not mean "pre-approved." Have you ever received a "pre-approved" credit application in the mail when you've never applied for a loan or credit card? If you read the small print it almost always has a line about "pending bank approval" (or similar language).

Am I correct that you received written confirmation of the higher dollar amount, you signed a contract for a vehicle and then the credit dollar amount available to you was reduced?

You need to find out exactly why this happened before you can proceed.

As a practical matter why not apply for an auto loan? The loan will be secured (by the vehicle), making it a smaller risk for the bank, as opposed to an unsecured line of credit.

[phillysteakandcheese]

You probably can file a lawsuit, but I doubt it would be worthwhile from a time/money perspective.

What do you want from the bank?
An apology?
Reimbursement for your car?

You could speak to a manager at your local branch and see what they are willing to do to keep you as a customer, but I'd prepare to move my business to another bank if I was unhappy with their service.

[CeliaOliveira]

Well the whole problem and what upset me the most was the bank saying something sort of like: Your account in Brazil was given to you against the bank's criteria, so you weren´t eligible for it but they worked in a wrong way and gave it to you anyway. They said it as if I was to be responsible for the branch in Brazil making the mistake. I felt prejudiced and harmed.
Isn't this country (Canada) all about respect to any person who you are dealing with?