05-05-2012 12:24 PM
I have been a Best Buy customer for a long time. I should know better to use the promotional purchases. Again HSBC is charging interest in error. I paid my account on time and tried to make a payment for a second promotion and the site would not let me. Tried to pay my account in person at Best Buy but could not use my debit card. Had to pay only by check or cash. Now interest charges are being charged on charges that were paid. And on top of it and for my loyal patronage, my credit line has been reduced.
No more Best Buy for me. HSBC only makes things worse.
05-05-2012 06:19 PM
HSBC is no longer responsible for the credit cards. They were sold to CapOne. I have no issues with the promotion(s). If you pay off the balance by the end date of the promotion you won't be charged.
05-07-2012 12:16 PM
05-08-2012 09:04 AM
I'm sorry to hear about this frustrating experience you're having with the promotional financing and how your payments are applied. We recently changed our partnership for our credit cards to Capital One. Everything remains the same, it's just Capital One handling it all.
You mention that you have interest being charged in error. Have you contacted Capital One to find out why this is happening? Because Capital One is a completely separate company from us, we do not have access to your account, nor do we have influence over their accounts or policies.
If you made other purchases during the finance period, the payments would have been applied to the account according to the credit card laws. It is my understanding that payments made to the account would first be applied to all minimum payments due for purchase on your account. Next it would be applied to purchases that have interest charges due. And last, if funds remain from the payment, they would be applied to purchases with financing promotions, in the order they are set to expire.
I know this can be very confusing, but Capital One has to follow the credit card laws. I would be happy to look into this further with Capital One if you can send me a private message with the name and phone number used on the account along with the details of the interest error. Please send this in a private message. You can send me a private message by using the link to the right of my signature line.