BestBuy.Com

[done5620]

THIS WAS IN RESPONSE TO HSBC's refusal to refund $0.60 that was charged to me as a result of the misapplication of my credit card payment:

Too bad you were not limited to the 600 characters as I was for my complaint. Now that the

Same As Cash item on my Best Buy Credit Card has been paid off I will no longer be using my Best Buy Card ever again. It is a shame that you cannot logically or consistently apply payments to charges and refused my request for a refund of $0.60. Please be sure to make your management aware that a Best Buy Card user with a very good credit rating and frequent shopper has been lost over 60 cents.

   In September of 2010 I purchased a Video Camera for over $600.00 on your "18 Month Same As Cash" plan. In October and November of 2010 I made payments of $35.20. This amount was found to be the monthly payment required in order to pay the "Same As Cash" purchase off by the "Promotional Expiration Date". In December of 2010 I purchased another item online from best buy for $53.49 and charged it to my Best Buy Card. My Statement, which closed on December 2, 2010, stated that the minimum payment on my "Same As Cash" purchase was $10.00. On December 24, 2010 a payment of $88.69 was made. The minimum payment on the "Same As Cash" purchase plus the 12/11 Regular Purchase only added up to $63.49. My payment of $88.69 was more than sufficient to cover my Regular Purchase and the minimum payment on the "Same As Cash" purchase! For some reason you idiots applied the full $88.69 payment to the "Same As Cash" purchase and failed to apply anything to my Regular Purchase made on 12/11/2010!! Since nothing was paid toward the Regular Purchase I now had a remaining balance on my January statement. Expecting to be back to paying only for my "Same As Cash" purchase, I paid $35.20, my calculated monthly payment. Now in January my $35.20 payment was used to pay the minimum payment of $9.47 on the "Same As Cash" purchase and the remainder applied to the Regular Purchase as should have been done in December!! Why would the minimum payment be applied to the "Same As Cash" purchase and the remainder applied toward the Regular Purchase one month and the full payment applied only toward the "Same As Cash" purchase and nothing toward the Regular Purchase the month before!! SO YOU CAN RIP OFF YOUR CUSTOMERS!! That is the only reason for the application of payments two different ways in two different months.

   HSBC Card Services will never screw me with a Best Buy Card AGAIN. If I need a "Same As Cash" plan in the future I will buy my big item electronics at Walmart before I go to Best Buy again.

[Jimmienomam]

It's federal law that's why. According to the Credit Card Act of 2009 HSBC HASTO apply all payment above the minimum payment to the deferred interest item for the last 2 billing cycles before it is up

[Jimmienomam]

Section 104 .164 is the portion of the Credoot Card Act of 2009 where this is found.

[Mbrguy Emerging Expert]

What Jimmienomam is saying is that it is NOT a scam and they were NOT ripping you off.  Federal Law dictates how payments are applied and unfortunately, HSBC has no authority to apply them otherwise.  

The thing to do if you do not like this is to contact your local congressional official and see if they will submit legislation to scrap the CARD Act of 2009. 

[Jimmienomam]

Thank you MBR as I typed it kinda fast on my phone and didn't do it as clearly as you did.

[Ryan-BBY Senior Social Media Specialist]

Hello done5620 - 

Melissa from our Social Media team, will be reaching out to you regarding your concern. Thank you for your continued patience!

[Melissa-BBY Senior Social Media Specialist]

Hello done5620,

I am sorry to read of the recent disappointment you had with the way payments were being applied to your Best Buy credit card account. From what you had described, it does sound like you had been making efforts to ensure your purchases were paid off in time, and I apologize that this did not go as expected.

As our credit cards are issued by HSBC, we don’t have access to or influence over their policies or accounts. It is my understanding however, that when a payment is made to the account, it would first be applied to all minimum payments that are due on the account. Next, it would be applied to any purchases that have finance charges due. Lastly, if funds remain from the payment, they would then be applied to any purchases that have interest free financing promotions in the order they are set to expire.

That being said, I was having some difficulty understanding how your payments had been applied to your account, and since I cannot see this personally, I have reached out to HSBC to review your account further. As soon as I have more information on this, I will be sending you a private message, which you can view by logging into our forum, and then clicking the envelope icon in the upper right corner of this page.

Sincerely,