Points, Policies & Certificates

[IWilliams]

I purchased a laptop for College on BEST BUY HRS Credit Card two years ago.

I graduated now and I was just about to pay of my balance of $349.78 and I saw an additional charge of $392.00 for billed deferred interest charges????

So, now I "owe" $796.06.

This is totally ridiculous and unethical!!!

Salesmen are not going to warn you about the terms and conditions, just the selling point that sounds good.

Needless to say I will not be using this card EVER again, nor will I be recommending it.

This credit card offer was very, very misleading. I could have purchased two laptops. Please do not get caught up!

[Walrus Valued Contributor]

This of course should be directed at HSBC, the company that owns the credit card.

Saying that "Salesmen are not going to warn you about terms and conditions..." is true. If you went to a furniture store and bought a living room set and charged it to your Visa or American Express, the saleperson isn't going to know what the terms and conditions are for your credit card - so they can't warn you.

Of course, a Best Buy sales person could tell you that if you choose the "no interest for xx months" option for your purchase, that you have to payoff the balance before the term expires.

A relative of mine "thought" that he could pay off his balance at the end of the month, when the payment was due by, even though the statement said right on it the promotion expired 10 days before the end of the month.

The credit card statement states "Deferred Interest" and how much will get added on if the balance is not paid off by the expiration of the promotion period. Too bad Salespeople can't force people to read their credit card statements.

[Ryan-BBY Senior Social Media Specialist]

Hello IWilliams -

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

[Sarah-BBY Retired: Community Connector]

Hi IWilliams,

Thank you for taking the time to share your concerns with us regarding HSBC and I am very sorry for any misunderstanding over your financing agreement.  As it appears you are aware, HSBC is a separate company from us whereby they provide credit card services to our customers, and for security as well as privacy reasons, we do not have direct access to or influence over their records, policies or procedures. 

However, while I cannot guarantee anything, I wanted to let you know that I am currently researching this matter further on your behalf and as soon as I have more information I will follow up with you again.  So, please keep your eyes open for a “new message” alert in the upper right-hand corner of the page to follow shortly (when signed in).

Thanks again and have a great day,

[IWilliams]

Thank you Sarah!

I really, really appreciate it.

[zztoluca]

You got to read what you agree to. Its all their, Im sorry for your bad experience

[CarlyH]

I too bought a computer for school and my fiance bought a stereo system on our HSBC BEST BUY Credit Card. We have just paid $800.00 on the balance and I checked today to pay the last $84.00 and there was a deferred interest charge for $396.00!!!!!!!!!!!!!!!! I think this is outrageous and can not wait to tell all my friends and family and anyone else that will listen not to get a credit card form best buy. Just when I thought I was finished with all my debt from college this happens.

Next time be sure to read every single fine print because this is how the system get you in the end.

[Sarah-BBY Retired: Community Connector]

Hi CarlyH,

I am very sorry to hear that you have had an experience similar to IWilliams and for any frustration you experienced as a result.  However, I wanted to let you know that I am now also looking into your situation as well in an effort to try and help, and as soon as I have more information I will follow up with you again.  Therefore, please keep your eyes open for a “new message” alert in the upper right-hand corner of the page to follow shortly (when signed in) too.

Thank you,

[Paul68]

Imagine my surprise when i saw $2100 in deferred interest?

[TE619]

I'm not sure of your exact situation. As others have stated there are a few rules when using the financing.

1. You have to make monthly payments. Meaning that you can't wait until the end of the term and just pay it at once.

2. You have to pay it by the pay off date. If you pay off date is 3/17, but you bill doesn't come until 3/18, you are late and they will charge you the interest.

My case didn't follow the above situations.

I had a 0% and a regular interest charge on my account. They took my payment and sent it to the 0% and allowed my balance to gain interest...thanks a lot...

I called twice and received 2 responses. The first said I was outta luck and that's just how it is. The second said that there had been an error in their system and they would adjust it.

I wound up just paying it all off and will be careful in the future not to allow a 0% and regular at the same time.

I also received a letter stating that there had been an error in their system from 10/11/11-1/18/12 where payments posted were allocated to my promotional financing plan instead of my standard plan. It was pretty much an apology with a coupon.

Hopefully you can get it fixed. My suggestion would be to call a few times as you seem to get different information from each rep you talk to.