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New Member
Posts: 3
Registered: ‎05-03-2020
Accepted Solution

Debt Protection is a scam

I purchased headphones in a bestbuy store on January 18, 2020 using my bestbuy credit card, and didn't realize I was going to be charged a debt protection fee.  I charged 423.99 for the headphones and sometime between January 18 and January 29, I went online and set up my payment in full for February 7.  On January 29, my account was charged 1.47 for the debt protection fee, so my full balance was actually 425.46, but I didn't realize that because when I set up my payment, I set it up for the 423.99.  I never went back and looked at my account because I thought I had paid in full.   Lo and behold, the 1.47 went delinquent 90 days later, and my credit score went down because I hadn't paid a debt.  I tried to call customer service for the credit card and they kept telling me that there was nothing they could do.  If I had known my balance was 1.47 more, I would have paid it.  I don't get statements in the mail, and I never looked at my online statements because I thought I had paid everything off.  My credit report suffers a 100 point drop because of a 1.47, for a debt protection fee that I never agreed to, and I have no debt with Best Buy.  I will never shop here again, and will find other ways to buy things when I need them, there are plenty of options available.  I am disappointed they would not help me, and passed me off to debt protection customer service, which is of no help.  All you have to do is google that fee and you can see what a scam it is.  Never again Best Buy.  I bid you, adieu.  

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New Member
Posts: 3
Registered: ‎05-03-2020

Re: Debt Protection is a scam

To be clear, if I had walked into a bestbuy store, paid for a new TV with a Bestbuy credit card, and then never paid the bill, I would understand if I was reported the credit bureaus.  But I paid my bill in full, 20 days after i got my headphones, and I was charged a 1.47 debt protection fee.  For What?????   I had no more debt with bestbuy!!  I paid my balance in full, if I had known my balance was $1.47 more, why would I leave that amount off, and then let it go for 90 days so my credit score would go down?   I cannot believe customer service would not do more to help me in this situation.  Why would I ever go back here???   Passing the buck is absolutely absurd.  

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Best Buy Employee
Posts: 1,981
Registered: ‎01-09-2015

Re: Debt Protection is a scam

Debt Protection is an optional service offered by Citibank on the Best Buy Credit Card to protect you in the instances you are unable to pay your balance. If you feel that you did not sign up for it, or wish to cancel it, you would need to reach out to them directly as they are the sole provider of the credit card.  Any fees associated with the card should appear right alongside the financed items on your monthly statements.  In this instance, it sounds like you paid it off before the bill was due, so the fee should be the only thing on the next statement.  If that is not the case, then again I would suggest that you contact Citibank directly.  

I am a Best Buy Employee, but the views that I post are my own and not that of Best Buy.
***Know that I am not able to issue official responses and that my posts are only here to help before an official response is offered by a Best Buy Social Media Specialist***
Highlighted
New Member
Posts: 3
Registered: ‎05-03-2020

Re: Debt Protection is a scam

It might be an optional service, but it is a scam.  It does nothing for you, and I never approved it!!!!   I don't think you understand the situation.  I bought something, paid for it 20 days later, and was charged a $1.47 fee.  I never saw the fee, because I had paid my bill and never went back to look at it.  As a reult, it was 90 days past due and now my credit score took a hit.  When you pay your bill in full, how am I charged a $1.47 fee for debt, when I have no debt?  I have called the phone number on the bill, and after waiting for an hour on hold, no resolution.  They told me it was not their problem and to call to the credit card.  The credit card tell me to call debt protection.  All over a $1.47!  Never again BestBuy, never again!

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Best Buy Employee
Posts: 1,981
Registered: ‎01-09-2015

Re: Debt Protection is a scam

It may not be the right thing for you, but there are countless people using it right now as they have lost their income and cannot affort to pay their bills.  I'm sure they'd like to be able to pay off a few hundred dollar charge before the statement comes, but they're struggling just to eat.  I would not call this a scam.  Is it right for everyone?  No, probably not.  Debt cancellation, insurance, Geek Squad Protection are all sorts of things that only you can decide on their value.

 

The service is charged based on $$$ charged, not what appears on your statement.  If you use the card, that balance will accrue a percentage fee added to your bill.  You should have received either email account notifications or paper statement, which would have informed you of the charge prior to the 90 day mark.  I've converted over to paperless on everything, but I still verify even when I assume zero balance.  The statement, however you choose to receive it, is your notification of the balance.

 

Which number did you call first that told you to contact Citibank?  1-888-BestBuy would not be able to answer credit card questions, they work for Best Buy and have no access to your account.  The main Best Buy Credit Card is 1-888-574-1301 and should be the one from the bill - they should handle all billing questiions.  Most likely, the $1.47 will not be removable as the service was active at the time of your purchase.  IIRC, there is a separate phone line to manage the debt protection service, as it's an overarching service not limited to your Best Buy Credit Card.  

 

 

I am a Best Buy Employee, but the views that I post are my own and not that of Best Buy.
***Know that I am not able to issue official responses and that my posts are only here to help before an official response is offered by a Best Buy Social Media Specialist***