Complaint Review: HSBC Retail Services - Pomona California

The point was that this consumers anger was directed in the wrong place. I stand by the claim that HSBC has nothing to do with Best Buy. Just because they issue the credit cards means that they have just as much to do with Best Buy as Samsung for Best Buy selling their T.V.'s: They do business together, but when you have an issue with one, you don't have an issue with both. I think we both agree though that it is totally up to the consumer to follow up on their payments and understand the rules. Also, the point was also that if the consumer is never going to do business with any company associated with the "Best Buy Card" (ie the HSBC bank), she is going to have to be very careful because most retailers use them as their credit card company. Again, misplaced anger, following the rules would have gone a long way

I was just at Best Buys web site, and clicked on their credit card FAQ's ... it stated this ( copied and pasted) ... Best Buy Reward Zone program MasterCard Credit FAQ's If I apply am I guaranteed to receive a credit card? No. By applying for a credit card, you authorize HSBC Bank Nevada, N.A. to obtain a current credit bureau report about you and to verify the information provided on your application. Approval is pending review of these and of other information. HSBC is associated with Best Buy, in the fact that they issue their credit cards. They also issue Sears cards and many others HSBC is one of the largest banks in the WORLD. Yes, like any other credit card you must fall into the practices of their corporation, but you, the sales people, solicit Best Buy Credit cards to your customers and what you are effectively doing is having Best Buy give business to HSBC and you are talking your customer into taking services offered through HSBC. I do think that one thing that consumers should learn is no payment until 2008 ( and it is 2006 when you make the purchase) is going to slam you with all the interest that they will now have to pay. They should know that it is the time frame that they have to pay for the item interest free. HSBC is not responsible for this any more than Best Buy is, it is the customers responsibility.

Unfortunately, HSBC bank is not Best Buy and has absolutely nothing to do with them at all.... Whatsoever. Also, if you look at the receipt, it very cleary states whether or not there is a promotional period on the card, and how long it is for. On top of that, the statements also include, very clearly, the deferred interest amount, and the EXACT date when that period ends... meaning if that amount is not paid off, the deferred interest is applied. I apologize that you feel slighted, but the blame lies soley with you. Just like any other credit card: READ THE FINE PRINT. This is so very important I cannot stress it enough. Also, since the statement is so very clear on the rules (I would know because I get a statement every month on the very same card), it is hard to understand how you missed it. Pay it off before the date listed next to the total or that deferred interest box hits you hard. Do not blame Best Buy. Do not blame HSBC bank (they are the bank for MOST retailers credit cards, so if you intend on boycotting them, boycott just about every retailer in this country too). Tell yourself you made a mistake you will never make again (and hopefully nobody else), and move on.