NG in Texas said: “I received the last statement for my “BEST BUY” account on 12-10-2007 and mailed the total amount due on 12-18-07 since this was my last ‘interest free’ month. This check did not clear my account until 1-2-08 so I attempted to call HSBC to find out what was going on. I was shocked when the automated system would hang up on me only after making me enter my account number and several other numeric prompts. After several attempts I finally gave up and registered for their website so that I could check the status of the account. I was shocked to find that they posted the payment on 12-29-07 when the due date was 12-28-07 and they assessed a $29.00 late fee. It’s ironic that the other two checks I mailed that same day cleared my account on 12-24-07.
I have no doubt that HSBC ‘held’ my payment, showing it was late by one day, so that they could collect the ‘deferred finance charges’ if the account wasn’t paid in full by the promotion expiration date. I sent them a note on their website to this effect and they said they would provide a ‘one-time customer courtesy’ and that they had removed the late fee. I went ahead and paid the $29.00 on their website with my checking account because I am wary of what other tricks they will pull. My promotional expiration date is 1-11-08 so I am going to monitor this closely. I have never been late making payments on this account or any other for that matter; my credit score is over 800.
I plan to boycott BestBuy until they severe their relationship with this predatory lender and I encourage everyone else to do the same.”
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