04-24-2012 09:08 AM
It's kind of ironic when you google "deferred interest", Best Buy comes up first on the list with their unscrupulous practices against their customers. Buyer BEWARE of this if you have any credit with Best Buy. You will end up paying a rediculous amount of money to these people. I have had credit cards all my life with deferred interest, but NEVER had interest back dated and charged currently to my account as Best Buy's HSBC does. Just today I find out I have a new charge to my account of $690.00. Thanks HSBC for making my day, then telling me..."We're sorry. You knew this when you got credit with us. it was on your statement every month." My reply..."That's what I get for assuming I'm dealing with a reputable company. Close my account." I will pay this off and NEVER buy from Best Buy again or any business that uses HSBC as their bank!
04-24-2012 10:45 AM
04-24-2012 10:49 AM
Hi Jaybee777 and welcome to the forum.
If you have an issue or concern that you want Best Buy to address, you should probably start a new thread instead of resurrecting one that is over a year old.
The irony you spoke of is lost on me, since I did Google "deferred interest" (both with and without quotation marks) and Best Buy did not come up first on the list on my computer. This did:
Deferred Interest Definition | Investopedia
Choosing not to read your statements does not actually make a company disreputable. Reading your statements from HSBC would make you aware of important information: your minimum payment, your due date, your current balance, promotional amount(s) and the dates the promotion(s) expire, how much you need to pay to avoid paying deferred interest, etc.
Finally, instead of learning an expensive (but valuable) lesson from this mess, you choose to assign the blame to HSBC and/or Best Buy. Really?
04-24-2012 11:01 AM
04-24-2012 04:54 PM
05-03-2012 02:06 PM
I’m sorry to hear about your frustration with your HSBC account. Best Buy credit cards are issued through HSBC which is a completely separate company from us. We do not have access to or influence over their accounts or policies. Payments you made to your account have been applied according to the credit card laws. If you monitor your account online, you can always see the minimum payment due for expiring promotions under the “Interest Charged Summary” in the “Statement Center” tab.
While I cannot guarantee an outcome, I would be happy to look into this with HSBC on your behalf. Please send me your name and phone number used on your account in a private message. In order to do this, please make sure you are signed into the forum, then click on the link to the right of my signature line.