04-25-2012 01:43 AM
Haha this is like the PC vs. Mac question; you're going to get fanboy/hater comments from all sides. It's all personal preference. Personally, it doesn't apply to me because I don't have a Best Buy credit card. If I had to choose a preferred bank between HSBC and Capital One, then I prefer Capital One. I have credit cards from both banks and Capital One has always given me the best service and rewards. If it were up to me, I'd go with Chase. Yes, I know people have this thing against the biggest baddest bank in America, but they have been nothing short of awesome with me in the last 11 years I've had them. They like to randomly increase my credit limit every 6 months. They have even called me once during my vacation in Japan just to make sure that my card wasn't stolen! It was sort of scary...
04-25-2012 07:27 AM
...which bank would be better then??? Capital One? >.> <.< *runs*
I know you're trying to stir the pot.
HSBC is a sub-prime lender that preys on the less intelligent/ignorant. Then they hide behind difficult to understand policies while raking in huge sums of money on inflated interest charges. Have you ever heard of Orchard Bank? It's a bad credit card.
When BBY went shopping for a banking partner to extend credit, HSBC gave BBY the best deal(kickbacks) and BBY knows HSBC is a crap bank and took the deal anyway.
Ask BBY if they use HSBC for their own company banking. You'll get a big fat "heck no"
04-25-2012 02:48 PM
Except the only people that get screwed over are the people that don't read and understand their agreements..
Which can happen with any bank/cc...
"Oh, I didn't realize you'd charge me interest on a normal purchase if I didn't pay it off before the grace period! PREDATORY LENDER!!!"
People need to bl;ame themselves as muchas , if not more than, they blame HSBC. If you read the T&C and they don't make sense, seek advise from someone with some contract experience. If you still can't make sense of your responsibilities under the agreement, DON'T GET/USE THE CARD.
See.. I'm not an experienced chemist, so I'm not going to mix two chemicals together unless I know what will happen. If I pick 2 random chemicals and mix them, create a toxic gas and kill myself, I don't blame the chemical companies...
04-26-2012 12:33 AM
APR28 wrote:HSBC is a sub-prime lender that preys on the less intelligent/ignorant. Then they hide behind difficult to understand policies while raking in huge sums of money on inflated interest charges. Have you ever heard of Orchard Bank? It's a bad credit card.
Sub-prime lender is definitely a "necessary evil" for general consumers. They're the ones willing to take a risk on a person trying to build/rebuild their credit. Without them, there would be a huge gap between credit scores. Then again, without them, we might not be in this giant economic mess we are in now. Do you ever read about those credit cards out there with the outrageous aprs and absurdly low credit limits? Like this one. The credit card company wouldn't have made that card if they didn't have a target audience. Guess what. There is a target audience. Some people just need to start somewhere even if that somewhere is rock bottom.
I don't buy the fact that they intentionally try to trick customers. No self-preserving business would do this. If people don't understand the terms and conditions of anything, then 1) Learn reading comprehension. 2) Get help from someone else. 3) Don't buy the product/service. Even smart lawyers wouldn't represent themselves in court. They would seek external counsel.
One of my credit cards is through HSBC. I've never had any problems with them. They just don't like to raise my credit limit and their card doesn't offer as good rewards as my Chase card despite me having their card for 6 years. So, I just use that card like 4 times per year.
04-27-2012 11:50 AM