03-29-2012 02:44 PM
03-29-2012 02:54 PM
03-29-2012 03:23 PM
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.
03-30-2012 03:38 PM
04-06-2012 09:48 PM
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.