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Household Bank / Stay away from the service they offer!

1 City of Industry, CA, United States Review updated:
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I received a promotion in the mail for a preapproved credit card. It was associated with Best Buy so I figured it was legit. I reviewed the Terms and Conditions and it was a standard card with no annual fee and decent rates. I opted for the 'Account Shield' protection program cause it seemed reasonable. I then used the card a few times and set up online payment through their web site. Here's where they got me. I charged the card up to within $10 of the limit. I set up a payment and it came out of my bank without any issues. what then happened is they held the payment for about 5 days without crediting my account. This put a pending charge on my account for the amount of the payment. Now, we all know that payment is sitting in a big account somewhere earning .003% daily. So, it makes sense for them to hold it as long as possible. They stated that the system will do it automatically. While waiting for the payment to 'clear' I was out of the $$ in my bank account and couldn't use the card. Then the statement was released and there was an over limit charge of $35. I checked online and it showed that the 'account shield' actually put the balance over the limit. Had the payment 'cleared' I would've been $100 below the limit and had no problems... It's a shady way of doing business.

The card is OK as long as you just use it for purchases at retail stores. No gas, No cash, and DO NOT use their on-line bill pay. The best way to pay them is through your own bank because it's usually sent electronically so if they try to charge you late fees you can dispute it through your bank.

Va
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Comments

  • Pa
      30th of Jul, 2008
    0 Votes

    I had the secure plus..lost my job ans did not file a claim for 4 months.. was told that I had only 120 days to file therefore I could not get paid under the plan..

  • Wy
      20th of Mar, 2009
    0 Votes

    Similar thing actually happened to me too. In my case thoug, they charged me $35 for a returned payment fee. And the on top of that a late fee. When I called my bank to find out what had happened and why were Household denied a payment, they told me that no payments were denied. After calling HH and explaining it to the representative (which by the way didn't understand a single word in English and kept asking me if I would like to make a payment) i got to talk to a manager. Manager told me to obtain a letter from my banks manager stating that no payments were denied and fax it to their Monitory Research Department. Did it twice, because after the first time nothing happened, and eventually they asked me to send a 2'nd copy. It took them about 7 months to finally come up with an answer: they'll refund $70 (late fee and denied payment) but they can't do anything about the otehr $230 because according to them I should have paid and made account current by paying from a different bank account. Even though there is part of my fault (I could'v opened a new account), I really don't think I should be spending any of my money because my credit card issuer messes up so big. Long story short, don't do business with Household. Which is part of HSBC. However, another credit card by HSBC rom Best Buy, never ever have I had any problems with them.

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