HSBC Horror Stories

ME in Kentucky said: “I applied and was approved for the Best Buy credit card provided by HSBC. While applying for the card I was told that I could walk into the store to make payments. When my first payment was due I drove to the store looked around and then tried to make my payment. The girl at the counter then informed me that the account had to be paid online. Hmmmm…. guess not to bad of a problem? WRONG! Begin the predatory fees!!!! Because I was trying to pay my payment on the due date, they said I had to make a “rush payment”. The fee for that service $15. I immediately called the HSBC and they said sorry new customer, but pay the fee. Don’t pay the fee and you get slammed with a $19 late fee.

I told them fine, I’ll just return the item and cancel the card. NOPE!!! Can’t do that either. The return would process after 3 business days and you’ll still be liable for the late fees. Wow is this just the perfect circle of entrapment. I paid the $15 fee and took my lesson to watch this account. I made sure all other payments were complete prior to the promotional date. Once I was at that final payment, I paid the amount that stated “Promotional Payoff Amount” and thought I was finished with this company. NO! They sent me another bill!

When I talked to the representative he stated the debt protection service was not part of the deferred finance charges. Thus the balance was valid. It was small so I paid that amount. Once my balance was $0.00, I closed the account. I will never do business with HSBC again. Furthermore, until I receive something from Best Buy that satisfies the trouble I went through I will be shopping at Circuit City, Radio Shack or anywhere else.

If you plan to sign up for an account for HSBC you better read all of the fine print. I have never had a lender that was so absolute in their resolve to collect extra money and fees. I was a new customer and should have been given some type of grace. Instead I got the big corporate foot and will be glad when this company goes under due to their own greed.”