My wife and I bought a large TV at Best Buy. My wife and I thought it was a large enough purchase, so we bought the coverage to protect us if one of us was disabled or if we lost our jobs. It was quite a large investment so we thought that was a good deal. The problem is, the deal is scam.
We were paying for the TV for quite a while and then, my wife lost her job. She wanted to see if she could get a job before leaning on the service policy we bought for just such an occasion. When it was obvious that she was not going to find a job quickly, she filed with HSBC, who was the lender BEST BUY USES. They said there was a time limit and that we were one or two days late. There was never any mention of time limits. We just tried to do the right thing, and they used something we never saw. WE have tried to get the entire contract several times, but to no avail.
Best Buy just says, "We are not responsible," and just washes their hands of it. I wish I could lead folks down the path to destruction and then just say, "I am not responsible." Like shooting fish in a barrel. (In my humble opinion, Best Buy is responsible to the public for the institutions they bring under their roof and use as reputable companies. We, the consumers, who bought merchandise under their roof and are taking their lender at their request, ARE responsible! We depend on them to steer us in the right direction.
Otherwise, they should tell people upfront that we have to find our own lenders when we make a purchase. Best Buys tacit agreement with these crooks makes them culpable. They are in enough hot water already. You would think this would be something that they would not like to be tangled up with. HSBC is clearly one of those dirty institutions with tons of complaints about things I would call fraud, but won't because I have not read the doc on those complaints, so can't really accuse them in those cases. As with our case, you don't need to see a fish to know there is something rotten in the area...
We will end up getting an attorney over this, but I wanted to let folks know upfront what they will be dealing with if they buy something from Best Buy on terms. This will be our last not-so-Best Buy from this sinking ship... I say good riddance. One more dirty organization taken out by trying to do as little as possible for its potential customers, (suckers).
SALINAS, CALIFORNIA -- I have cards on both them and I pay annual fee as I was trying to improve my credit score. I have never missed a payment and I access everything online. One day, I was going through my accounting and accessing my credit card online accounts and I could not get into either one of them... The funny thing is that both cards were placed on hold at the same time... Note, I am moving to another state soon and I go down to see family.
So I called in and one is closed for business (6pm EST). The other phone is 800 and I got through customer service. They directed me right to credit review department. Be aware, these cards don't even give you a credit increase and you are paying annual fee. The lady comes online and verifies me with multiple private information. Maiden name, social, address, etc. They obviously could tell that I am the account holder...
She states for verification purpose that the accounts were placed on hold and they want me to mail my income, 2 utility bills, and social security. I asked why? You have my information and I asked where the notification is. It is in the terms of agreement. So I stated then wouldn't you think you should notify before you place it on hold so you do not disrupt services? She stated that we did. Really, then why would I be calling you and finding out now?
Also, you really think it takes less than 1 day to notify? To make the long story short they have my information. They know I pay my bills. Heck, I even told her when my last payment was (since I went into the account the week prior to pay my bills)... All she could state is that I have to wait and can't use the card until it is cleared.
SO you pay annual fee for service, you are denied service, and it is acceptable for them to place a hold. Do you think you should get credit? I see why credit card companies are predatory. They have no problem and demanding us pay right away but would do anything possible to deny service... And they could change terms whether they want.
I am extremely frustrated, and at this point angry, with the way I'm being treated by HSBC in regards to my application for the Best Buy card. In August of 2010 I applied for the Best Buy card online and was declined, however I was approved for the MasterCard, which I did not want, and which I did not accept. I have a steady, long-term job, and a credit score of 818 so I called to find out why I was declined and they said they'd send me a letter.
I waited about two months, and called a second time because I never received the letter. This time they said, "Oh good news! There's been a mistake. If you reapply you're sure to get approved!" November 11, 2010, I reapply and again I'm declined for the Best Buy card, but approved for the Master Card. Again, I don't want the MasterCard, and again I didn't accept the MasterCard. I call back for the third time, and again they promise I'll receive a letter within 30 days.
Two months go by, and I call for the fourth time to ask where's my letter and I'm told again that there's been a mistake and to reapply. I don't think so! I told them I don't want to reapply a third time. I want the reason of why I was declined. So I'm promised for the third time that I will receive a letter within 30 days. So, I called them yet again yesterday, February 22, 2011. I received the same song and dance again, and they promised me they'd send me the letter of why I was declined.
Well, at this point I don't even want the card anymore, and I'm ready to stop shopping at Best Buy. On top of it I'm so annoyed. If all this wasn't bad enough, my mother called me to inform me that HSBC has sent a MasterCard in my name to her address. She lives in a completely different state than me! How does this happen? They didn't even put my full name on the card! I would never apply for a card without my full name, not to mention my mother's address. I will never, ever do any business with HSBC after this experience.
Whatever you do, if you plan on paying off your HSBC credit card, they don't want you to pay it off because they want you to owe them. I paid off an Orchard Bank card in February of 2009 and have account statements and check carbon to prove it.
However this card ended up in collections and I had to chase it down in order to pay it and inevitably I was referred back to HSBC to pay it. They already made three times as much off me for this card. The customer representative said he would send me a notice it was paid off. The amount came out of my account and I thought everything was good.
Six months later a company or collector started sending me notices through the mail that I owed them more money and said I didn't pay that card. So now they are making threats that they are going to garnish my wages for a bill that got paid off.
I can't afford to pay another 1000 dollars as I am a single mother trying to make honest efforts to pay off my bills and am struggling financially and if they were to garnish my wages I would be out on the street with my children. I think I will have to talk to the attorney general about this. They said in the threat that I could get my money back after they took it and get a lawyer which I can't afford.
That makes me think that even if they did take another 1000 dollars what would stop them from saying I did not pay them but they helped themselves instead and keep doing it over and over again just to make more money off of a poor woman trying to make ends meet. Hope this helps someone.
OK, so today I received a notice from HSBC that they were jacking my APR up to 25% next month. I thought "that's ridiculous". So I called the number in the notice to ask them why and all I got was an automated system. You know the type, with the condescending voice. Anyway, after fumbling through the blasted menus and multiple redialing it gave me only two options. Accept the terms or cancel the card. Well I immediately chose to cancel. Why should I pander to them? If they don't even want to talk about it I say **.
Then I tried the number on the back of the card for answers to why they did this. Well that was useless. All I got from that was some poor guy in India, who could only spew back at me the company line. He was rather confused and couldn't really answer me. He just kept repeating the same thing over and over.
A computer answering service could have done the same for less money. I finally called him an idiot and hung up. Don't worry. I don't think I was able to insult the guy. He didn't understand what I was saying after all. HSBC, get some real/knowledgeable people to answer your phones! You look rather incompetent when that is the best you can do for customer service.
Back to the issue, they had no reason to jack up my rate. I've made all my payments on time, have excellent credit, above 750 if you must know, and have had this account for years... Ever since I bought my big screen TV on it back in 2002. The only reason that makes sense is that they screwed up in the home mortgage market and are now trying to use their credit customer base as a captive money making machine. SHAME ON YOU HSBC. You screwed up and you know it.
It wasn't my bad judgment that put you here. It's solely your own fault. Don't try to make me pay for your mistakes. Thankfully I really didn't have much on the card and was going to pay it off this next week anyway. I just moved that payment up to today. Oh and HSBC... the loss of your little credit card is no skin off my back. I think I'll do just fine without you. I think the world would do just fine without you. May you go down in flames. I hope you go bankrupt. P.S. Same goes to any other bank that tries this stunt.
KANSAS -- I have always paid my bill on time, never had a late charge and had $4,000 line of credit. I get a letter in the mail telling me they had lowered my line of credit to $550. I only have $524 on the card and have faithfully sent them a payment every month. Why do I have to be punished for the ones that don't pay there bill.
Also HSBC has a problem posting payments. I can send my payment as soon as I get my bill and sometimes they still charge me a late fee trying to convince me to pay my bill online which will never happen I do not trust the internet and why would I want to put our postal workers out of business plus take the risk of someone stealing my identity.
They also raised my interest rate from 9.99% to 19.99% and I don't get it when I am in good standing with this company. I feel the people who pay their bills are the ones being sacrificed for the ones that over extended themselves on credit cards and that is not fair to the people who keep their credit in good standing. I plan to pay off all my cards through this bank and discontinue use of this facility.
They are unfair in the way they handle things and all the money the government has dished out to them to bail them out and the American People who work hard everyday are the ones that get to bail out these failing banks and more less pay for those people that do not pay there credit card bills.
Do you think this is fair??? It sure does make a person mad when you hear on the news that this money these banks and businesses are getting are not using the money for what it is for. So they take it out on the American People. I for one am feed up.
I just got off the phone with HSBC Discover - they did it again - I put in my right bank account number just like last month. However, since they require 36-48 hours prior to having the payment post this month I put in an additional $15 to immediately process since the payment was due two days later. The payment was "returned by the bank 4 days later" per the HSBC representative for a wrong account number. When I look at the statement they just released it was returned the same day - two statements completely in opposition of each other.
Then, in addition they added an NSF fee, a late fee which together with the payment they returned put my account over limit so let's add another $39. They added $105 extra to my account. Last month I paid their fees because I thought, well maybe I made a mistake in inputting my checking account. This month I know that I did not make a mistake with the input and it is HSBC's way of racking up fees.
I went on their website and they state that they will change the account number if they verify with the bank that it is not the right number. I went to the screen where I had input my information and they have changed it, again. I changed the bank account completely to make sure they do not automatically do this again.
So the bottom line-the wrong number attached to the supposed NSF check is the account number that their third party changed on my payment, starting the whole thing. There are people with the same name in my area, two at my same bank I use for my payments. Something really stinks at HSBC, this is a clear violation of banking rules and of credit laws, they fraudulently change the information at their will and then refuse payments in order to make money racking up fees - they need to be fully investigated and we the people need to file a class action suit. Anyone interested?
HSBC is one of those companies where your payment arrangement has to be made 36-48 hrs in advance on their website. After the login I chose to edit bank account information same bank different account, I get to the confirm page and the routing number box is highlighted in red with a warning stating my bank changed the routing number. I knew this not to be true, but I called to check with them anyway. They confirmed it was the same number.
I then called the number on the back of my card and was transferred to some technical support number. To my delight she spoke English, she then tells me my bank changed the number. I tell her they didn't, she says Citizens Bank informed a third party the number and if it was incorrect then it was Citizens' fault and they would have to straighten it out with the third party.
At this time I explained to this so called customer representative that in my state the bank is named Charter One and no representative you speak with will have access to this third party. A refusal to take my payment over the phone fee free followed and advice for me to contact the ACH department of my bank. So I placed a second call to my bank this time with the changed routing number, they are not allowed to speak to customers directly but a very nice customer representative played middle man. They told me the new routing number was for the state of New York, I live in Illinois!
It was no big surprise to me, called the technical support number again to HSBC. Different person different result. Explained earlier problems. Took payment fee free and didn't threaten me like previous representative saying I would get extra fees if it bounced out of the system. The first HSBC representative wanted me to pay $15 to take a payment over the phone that could possibly get kicked back because of this new routing number they claimed they were issued by my bank. If that had happened I would have had to pay $15 for payment, $29 for NSF, and $29 for late payment.
HSBC has poor customer service. They need to start employing people with common sense and stop trying to put off on the customer things they screw up and blaming someone else. I feel the first customer representative knew full well banks don't allow the ACH department to speak to customers, she tried anything to get rid of me. Couldn't give out the third party information whom she claimed received the new routing number from my financial institution. The entire product and services offered by HSBC seems to be criminal.
NEW YORK -- Stay away from this product. Nobody is there for you to give you answers, they expect E-accounts to be E-neficient. I deposited my money and was misled by the "no minimum term" disclosure. When I went to withdraw money by ATM could not get the amount I wanted. Went to the window (terrible long faces) and the teller told me I had to do it online. Decided to close the account because I needed the money and had to call to find out I have to email them and wait for them up to 48 hours for them to get back to me and tell me what to do.
This is the response: "Your request has been forwarded to our Online Processing Center. Please allow 2 to 3 business days for the account to fully close. The remaining balance will be mailed to the address listed on your account within 7 to 10 business days." That is about 15 of wait since I started claiming my money. And more: "any accounts closed within the first 6 months of opening will be assessed a fee."
Great!!! They can charge for their time, but mine is worth nothing. American, beware of these things, add up and all these bailed out by your pocket banks are playing scams one way or the other. ING allows you to move money from one bank to the other for free, the rate is about the same I think and you get the clearance in two days.
I thought I could start a relationship with this bank but E-trade is the new play ball with the customers. I sent emails to all my friends making them aware of this trap and also the FDIC and Feds. Saving accounts are not CD! We should not pay penalty for using our money!
EDEN, NEW YORK -- I have had a checking account at HSBC for the past 40 years. I've had a few problems in the past such as them confusing my checking account with my son's when we made transactions. The final boner on their part is as follows: I received a letter, stating that my husband was one of 10 winners of a 1,500,000 sweepstakes entered through our purchase of a Sony TV (which we did purchase). We would be receiving 150,000. A check for 4,986.98 was included made out to my husband. (I checked online and there is a bank by that name in IA.)
In order to access this money we needed to pay the taxes which were $2,998.00 to be paid by Western Union or Moneygram to the tax agent. We called the agent and he accepted our claim number and told us to pay the taxes out of the money deducted from our winnings. We were very skeptical about this, seeming too good to be true. I deposited the check in my checking account and waited to see if it cleared. Within a few days, I was unable to use my debt card, unable to get an available balance, they had no information for me whatsoever for 5 days.
Finally, I went to the bank and was told my account was on hold because a large check deposit was a fraud. (not a surprise) I showed them the letter, and they told me to report it to the post office and to go to my home branch for more information as to how to release the hold on my account. I had to wait over a weekend to speak to my home branch and was informed that my business was no longer wanted because of the fraudulent check. I asked if they had read the letter and they had no knowledge of the letter, that their fraud squad cancelled my account and to pick up my money at the bank.
Meanwhile all the checks which were supposed to be posted to the account will all be overdue and I will be charged a bounced check fee, in addition to a late check fee from each check sent. This happened once before to me at HSBC because they neglected to notice I had overdraft protection and closed my account. When notified of their error, they did agree to pay for the fees, "we're very sorry", and had no idea why this happened to me.(this sorry incident happened about 2 months ago, and before they had their major computer shutdown, affecting thousands of people). They are sorry about that too. I think HSBC did me a favor, don't you?