Best Buy Consumer Electronics and the predatory Best Buy credit card, as reported by a customer on 2 August 2005. Please READ CAREFULLY:

“I have had a Best Buy account for at least 5 years, I have not experienced any issues until today. However, what happened today / this month is truly unbelievable.

I had a large payment due on 7/26/05 to avoid almost $600 in deferred finance charges. I mailed my payment to Best Buy on Tuesday July 5th along with payments to 5 other creditors / utilities. Like every other month I mailed the payment and never thought about it again. Until today when I received my August statement showed a $35 late charge on 7/18 and no record of receiving my payment. I immediately checked my on-line bank account and realized that the check hasn’t cleared yet. I then called Retail Services and the automated system stated that the payment was credited on 7/30. Clearly Retail Services is playing games. Some facts/thoughts:

1. The payments to the other creditors / utilities were all received and cashed on or before 7/15/05.

2. I find it very interesting that my payment shows posted at Retail Services on the 30th of the month just in time so they don’t report a 30 day late on me, but 4 days after my promotional period expired meaning a charge of $566 in deferred interest to me.

3. Of course the Customer Service agent said they credit payments the same day received, my point mail rarely gets lost, but if it does it’s lost not delivered 25 days later in time to be credited just before the end of the month and after the 7/26 promo expiration date.

4. I have never had a late payment on any credit account; I have a FICO score of well over 700. I don’t make mistakes. Further, I work for a mortgage lender and understand how payments should be processed.

5. This statement arrived in the mail today exactly 8 days after the statement date. The envelope had no postmark to show when it was mailed. I live in a suburb of Dallas and mail delivery is not an issue. Interesting that the statement was delayed this month until it was too late for me to call put a stop payment on the check and pay the balance via credit card ahead of the 7/26 promo expiration date.”

For more on this thread see our forum link here. Retail Services refers to HSBC Retail Services which is former disgraced predator Household International with a new name. It appears as though HSBC does nothing to improve this bunch of questionable characters.

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