I am publishing this report in this section because it clarifies a good point. RW in Massachusetts says: “Maybe others already know this, but if you pay the $15 to “expedite” a payment that is considered a “purchase” by HSBC, which entitles them to charge interest on the $15, even though my balance of $1,600 on a balance transfer was at Zero percent. What is the result? Each month, because they take my average $200 payment against the $1,600 balance, the $15 “expedite” fee gets banged 76 percent interest of “minimum $1“. “That’s right, I pay $1 a month until I pay off the transfer balance before they knock off the $15 fee.
Crooks. Just so you know, I paid off the entire balance and dumped them and will spend the rest of my life telling people to stay away from HSBC. Crooks.”
Editor’s note: I’ll file this in the Tom Detelich category because Tom can certainly explain this to everyone.
Related posts:
- HSBC subprime credit card business profitable, high interest rates cited
- Is HSBC’s bailout refusal hiding their balance sheets from others?
- New HSBC credit card processing scam hits David’s Bridal
- Why HSBC doesn’t send email when your credit card is used
- There are 13 months in an HSBC year so watch your payments
