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AP in Pennsylvania said: “HSBC has been playing the no interest game with me on my Best Buy Card. I pay off the balance so that I do not get hit with the interest at the end of the promotional period. They manipulate the payment so about $2 is left on that item then nail me for the entire 18 months of interest. They have done this to me twice now. Both times they fixed the problem but as far as I am concerned this is fraud.”
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Just so you know, they apply the payment on the promotion that is due first. If you have a regular revolving purchases (which can have interest rates up to 29%) the system pays those ones first because they are not on a promotion. If you have several purchases on different payment plans, it is YOUR RESPONSIBILITY to call and make sure your payment is applied. Not whine about it. There isn’t a person sitting at a computer screen entering EVERY SINGLE payment in and just so you know, the company isn’t psychic either. If it had paid the right promotion, you would’ve just called to complain about the other promotion that accrued the interest rate. Anything to complain really.
….Oh, and the “Interest free promotion” as you like to call it, is in reality called “SAME AS CASH” and it clearly states on your card holder agreement and on your first statement with the purchase, that if the amount is not paid in full by the due date, you will be charged the interest from the point of purchase. Get you facts before calling it fraud.