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HSBC Retail Services / this company needs to go away!

1 United States Review updated:

I have a Best Buy card through HSBC that I have been paying on for 3 years now. I usually pay double what is owed every month. With very little exception, I have paid on time. December of 2005 I switched back from sending checks to electronic payment through my bank. My minimum payment of $19.00 was due on 12/03/05. They state they did not receive my payment until 12/08/05 (I believe they received it, they just did not process). They charged me a late fee of $29.00.

For the sake of argument, lets just say that the fee WAS correctly applied. My next due date was 01/02/06. The total due (because of the late fee) was $53. The payment that they received on 12/08/06 was for $50. I sent another payment that they received on 12/28/06 for $43.44 which brings the total received to $93.44 when only $53 was owed.

They charged me a late fee on 01/02/06, even though they received $40.44 more than they state I owed them! During this time I was unable to receive mail so I did not immediately catch their mistake. I simply kept making payments. My monthly payment should have been $19.00 each month. My next due date was 02/02/06, and should have rightfully been a $19.00 payment. They received $40.00 on 01/19/06. Yet again, they charged me a $29.00 late fee.

I paid them double what was rightfully owed every single month, but they kept tacking on a late fee every month! Now, by the time I have fully realized THEIR mistake, my "minimum" balance due is around $200! I have paid them over $280 in the last 6 months, and my balance has actually INCREASED!

I wrote to HSBC and explained the situation, gave them the dates and amounts paid (which was taken from THEIR statements once I was able to check them online) I received 3 letters back from HSBC.

The first letter stated that my account was billed approximately the 8th of the month. Ok, thanks for that. The second letter stated "We are unable to honor your request for a late fee waiver at this time. The total minimum payment is due on or before the payment due date appearing on your billing statement". No kidding, and you received $40.44 MORE THAN THE MINIMUM and STILL charged a late fee.

The third letter stated "We are unable to comply with your request to delete certain information from your credit report. HSBC reports information that relates to the actual credit experiences we have had with our customers". Baloney. They are trashing my credit because of their mistake. Even in the face of absolute proof, they refuse to correct their mistake.

This company needs to go away.

Va
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Comments

  • Bu
      13th of Dec, 2007
    0 Votes

    I totally agree... this company needs to vanish!!!

    I had a Rhodes account with HSBC that I paid in full and closed in Feb of 2007. In June of 2007 HSBC decided to erroneously report to the credit reporting agencies that my account was past due. They have yet to correct their mistake and I am at risk of having the financing of my new home fall through if I am not able to get them to confess in writing to their mistake! I have spoken to supervisor after supervisor all to no avail. I am at my wits end with these people... CREDIT IS SLAVERY!!!! and don't let anyone tell you any different!!! You buy your way out, they let you think you are free for just long enough to let your guard down, then they kidnap you the next state over, steal your "free papers", sell you back into the system and the burden becomes YOURS to prove that you were once free...

  • Sa
      19th of Jan, 2008
    0 Votes

    I personally dont have a credit card with HSBC but I see why Matthew is upset as a consumer myself, however you must remember even if you pay $500 on a $5000 balance every month and your pymt due was only $100 that doesn't give you the right to deduct the amount if you so chose for your next payment even if you feel that the late fee or any other fees are not legitimate. If you are ever having a problem with making pymts with a company and you "feel" they are holding your payments, get setup on an autopay with that company or your personal bank, you must remember it's always a choice to use a credit card and don't forget these companies are banks and they are here to make money, and this is a loan just as your house payment is I do have other CC but I always remember they are banks and if I slip up once they will nail me, so if you chose to have a CC you have to take it upon yourself to make sure your pymts are rcvd timely b/c the postal service makes many errors, I know I work there.

  • Ad
      1st of Apr, 2008
    0 Votes

    Yea well I just sold my bike and got scammed and I think they are in on it. I did a check by phone with the guy I sold my bike too and they told me it went threw and I had a zero balance. Well then the next day as I am driving to delever my bike to the guy I call and it still says zero all the way up till today and now it says I have a $7000 balance. And now i cant find the guy. So does anyone know what i can do?

  • Kg
      29th of Jul, 2008
    0 Votes

    This company took over for GM Cards and everything I have read is correct. It seem no matter how hard you try to pay on time they will find a way to make it late. I went to online bill pay and went to pay it the day before it was due and said it would be credited late. So I had to pay extra 15 to have it credited on time. Then I reviewed statement it still shows it was late, but then they credited the charge back but they still charge it against you. This is the only company that has ever been a problem for me. Calling and writing them get you no where.

  • Iv
      17th of Nov, 2008
    0 Votes

    i have sofa from tham that iam paying on and my blance never change ever time i call thay spoke to me so bad thay call me at night and sunday early in the morning late at night idont know what to do

  • Ja
      21st of Nov, 2008
    0 Votes

    We have paid on our Best Buy card on time for the last 2 years. They keep charging us fees after fees. Late fees after late fees. When we ask them why they say we didnt pay on time but on our bill it says that we paid on time but there is still a fee applied.

    Then about 4 months ago we get a call from a collections agency! I was like WTH! He said that HSBC had placed out account with them because we are not making on time payments. Um...YES we are! It says it on our bill! The guy was really rude to us. We are being harrassed by them now and have had to hire a lawyer. It's a mess.

    NEVER EVER get a best buy card or anything that goes through HSBC.

  • Ro
      10th of Mar, 2010
    0 Votes

    HSBC took over my Suzuki account and now i get late fees all the time. i usually send the payment out the friday after i get it that is what i did before they took over and for some reason it is late so than i started sending the payment before i got my statement and omg the check would clear before the date showing 2 payments on 1 bill i send the check the day it says and it takes them 10 days or more for it to go through giving me late fees than i send it 3 days before it is due and it cashes in 4 days giving me late fees i call they say they cant help its the post office so i sent 1 delivery confirmation and for some reason the post office got it there in 2 days and i got no fees i work for the post office and it is not them u should be able to send the check out 5 days before and it should get there in time this is the only company that i have a problem getting payments to on time why is that out of at least 15 different bills i pay by mail is this one having such a problem!!!

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