05-02-2012 06:01 PM
HSBC has AWFUL customer service, and they have the worst policies for how they allocate payments towards no interest payment plans! I am considering never doing business with HSBC or Best Buy again! If Best Buy can't be more selective in who they partner with then maybe they don't deserve my business!!!!
05-02-2012 07:09 PM
HSBC has the worst policies for how they allocate payments towards no interest payment plans!
Actually, they have the SAME policies for how they allocate payments on deferred interest plans. The reason for this is because the way payments are allocated are determined by Federal Law via the CARD Act. If you don't like how HSBC allocates payments, contact your Congressman and Senator and have them work to repeal the CARD Act.
05-02-2012 09:13 PM
In addition to what Mbrguy said, HSBC won't be handling Best Buy's credit cards any longer. Capital One will be taking over.
What's in your wallet?
05-03-2012 12:50 PM
05-04-2012 10:44 AM
I'm sorry to hear you've gotten poor customer service from HSBC. As the others have said, Capital One is now handling all our credit card finances and is a completely separate from us. We do not have direct access to or influence over their accounts or policies.
With regards as to how the payments are distributed, it is my understanding that any payments made to the account would first be applied to all minimum payments due for purchases on the account. Next, it would be applied to purchases that have interest charges due. Lastly, if funds remain from the payment, they will be applied to purchases with the financing promotions, in the order they are set to expire. Payments are applied to your account according to the credit card laws.
If you are continuing to have questions regarding your account, I would recommend contacting Capital One at: 1-800-298-4240 or capitalone.com. Let me know if there's something further I can help you with.