Best Buy & Geek Squad Policies

[HSBC_are_crooks]

I have one "reduced rate" purchase and two "same as cash" purchases on my BB HSBC card.  If you pay more than the minimum payment HSBC applies only the minimum payment amout to the same as cash purchases while putting the rest toward the reduced rate purchase.  The plan is to keep you from paying off the same as cash purchases before your time runs out.  They are just drooling over the chance to hit you with that deferred interest.

Until now I was able to beat their corrupt system by calling customer service and having them properly allocate the payments so I could pay off the same as cash purchases before they expire.  I was told today by the dude in India that was no longer allowed.  And as far as customer service goes it totally sucks.  The only way I have discovered to talk to a real person is to ignore all of the automated requests and dire warnings until someone finally comes on the line.  Entering any identifying info traps you in the voice jail system.

This is just another case of two businesses with nothing but contempt for their customers.  It is sickening how on this forum Best Buy has its PR shills endlessly saying it's not their fault, it's HSBC's fault.  They've hired HSBC to be their Hit Squad so they can pretend they have zero responability.  What a load of crap.  If only their Geek Squad was as good at fixing thing as their HSBC Hit Squad is at ripping off the customers.

[cr_client]

If you don't like that the interest-bearing purchases are paid first, then:

a) don't make interest-bearing purchases (I haven't made an interest-bearing purchase from Best Buy ONCE in the 5 or so years that I've had my Best Buy card)

b) yell at your legislator.  The LAW says that you MUST pay the highest-interest-rate purchase first.  That's all thanks to the folks in Washington, D.C., trying to "protect you from the evil credit card companies."  If you don't like that, then blame the idiots in Congress, not HSBC.

[Sarah-BBY Retired: Community Connector]

Hi jsmnplgr,

Thank you for asking about this and I apologize for any disappointment.  As you may be aware, HSBC is a separate company from us whereby they provide credit card services to our customers.  However, I was able to connect with them on your behalf and have now received the following response to your inquiry:

“This information is correct.  We are no longer able to allocate the customer's payments.”

I hope this helps!

Thanks again and have a great day!
Sarah

[jsmnplgr]

Thanks for checking into that for me Sarah, it did help.

[gdscan89]

I spoke with a rep from Chase yesterday and he confirmed the fact that you can not direct your payment to a particular item. All of your monthly payments are applied to the oldest purchase regardless of the deferred interest time left on any one item. In other words you are penalized for buying items with a deferred interest period shorter than your other purchases. I purchased an expensive television in 2008 with a 36 month deferred interest plan, an apple computer last christmas with an 18 month deferred interest and a second television last month with a 6 month deferred interest plan. Now because I bought this 2nd television with only 6 month deferred interest, I have to pay the entire balance of all my purchases within 6 months or be charged the outrageous interest amounts that have been accruing since my original purchase. Fortunately I have the money to pay off all my purchases now but I am going to milk the no interest for every last day of the next 6 months before doing so. That will be last dollar Best Buy/Chase will ever get from me. Way to screw your loyal customers for continuing to buy more than one item at a time Best Buy. Shame on you and shame on me for not reading the fine print on your promotional offers.

[cr_client]

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gdscan89 wrote:

I spoke with a rep from Chase yesterday and he confirmed the fact that you can not direct your payment to a particular item. All of your monthly payments are applied to the oldest purchase regardless of the deferred interest time left on any one item. In other words you are penalized for buying items with a deferred interest period shorter than your other purchases. I purchased an expensive television in 2008 with a 36 month deferred interest plan, an apple computer last christmas with an 18 month deferred interest and a second television last month with a 6 month deferred interest plan. Now because I bought this 2nd television with only 6 month deferred interest, I have to pay the entire balance of all my purchases within 6 months or be charged the outrageous interest amounts that have been accruing since my original purchase. Fortunately I have the money to pay off all my purchases now but I am going to milk the no interest for every last day of the next 6 months before doing so. That will be last dollar Best Buy/Chase will ever get from me. Way to screw your loyal customers for continuing to buy more than one item at a time Best Buy. Shame on you and shame on me for not reading the fine print on your promotional offers.

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The OP was referring to the Best Buy-branded HSBC card, not the Chase card.  Both companies appear to do business in a completely different way from each other, unfortunately.

HSBC applies any over-payment to whichever promo expires soonest, not to whichever purchase is the oldest.

Based on those terms, if my BBY card had been with Chase instead of HSBC, I would have probably ended my relationship with BBY and Chase after my first purchase, as I think those terms are ludicrous, at best, and border-line egregious.  Lucky for Best Buy they went with HSBC (AFAIK, the Chase cards are all legacy cards rolled over from the big red commission machine when they went out of business).

I feel for you on this.  That really does suck.