• Report: #565618

Complaint Review: Best Buy - HSBC Credit Card Services

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  • Submitted: Sat, February 06, 2010
  • Updated: Sun, February 07, 2010

  • Reported By: Doug b — Mason City Iowa U.S.A.
Best Buy - HSBC Credit Card Services
440 Indian Head Dr Internet United States of America

Best Buy - HSBC Credit Card Services NO REFUND FOR EXCHANGE, Internet

*Author of original report: Refund for Video Card

*Consumer Suggestion: Can't have it both ways...

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I have been waiting for almost a year for a refund that should have been issued in April of 2009. The amount is only 96.29, but it's about the point of the matter. I was bounced back and forth between Best Buy and HSBC for 10 months, and when I did an inquiry on why I haven't received an increase in credit in over 2 years (never late and balance was at 0), the rep basically said we don't care that your account is in good standing, and it's all about your credit report. Well, I can tell you for sure that my credit is better than I started, and maybe 680 isn't that great, but that's where paying on time comes into play. Well I said enough with them, and closed my account. If anyone is thinking about applying for credit with Best Buy, please think again. I have seen many Horror stories written about HSBC.

This report was posted on Ripoff Report on 02/06/2010 05:57 PM and is a permanent record located here: http://www.ripoffreport.com/r/Best-Buy-HSBC-Credit-Card-Services/internet/Best-Buy-HSBC-Credit-Card-Services-NO-REFUND-FOR-EXCHANGE-Internet-565618. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Refund for Video Card

AUTHOR: Doug b - (U.S.A.)

I was making a very long story short. I had a defective video card, and I spoke with a Best Buy rep, and instead of waiting 4 weeks by sending the video card to them, and waiting to receive one back, he said I could purchase another one. All I needed to do was just send him the receipt, and he would issue the refund. So, maybe exchange was a bad choice of words.

Best Buy shows the date the refund should have been issued, but HSBC has never refunded the card. Every time I have spoken with Best Buy, they assured me the credit would be on the next billing cycle. That was 10 months ago!

As far as credit practices are concerned, that is not how it works. I have 5 other cards that all have received credit line increases in the last 6 months as part of their semi-annual review. Target, Paypal, JCPenny, GEMB care credit, and GEMB visa. I only finance what I need, so if I want to purchase a home entertainment system, I need to have matching credit. Anyway, the point was if someone is thinking about using Best Buy and HSBC, maybe think should think twice.
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#2 Consumer Suggestion

Can't have it both ways...

AUTHOR: Batman - (United States of America)

Maybe you expect too much or maybe you just don't understand general retail practices, but when you exchange an item, you usually don't get a refund. An exchange is just that, trading a broken/defective/unwanted item for another of the same value.

I'm not aware of any retail establishment that has a general policy that both lets you exchange an item and get a refund on top of it. Refunds are usually only reserved for when you flat out return an item and take nothing in exchange.

Also, why would need a general increase in credit if your balance is zero? If it's for a single purchase you're looking to make, then let them know that at the store when you're making the purchase and it'll likely be reviewed for you on the spot.

I can't speak as to HSBC's policies but in the general world of lending, the rep you spoke with on the phone is correct in that your payment history with them means nothing. (unless it was bad) If you have a good history with them, they then go and look to all your other lines of credit (open & closed) for large balances or late pays. Any single red flag on any other account in the last 5-7 years and they'll likely decline you, no matter your current FICO. It's just the way the lending world works.

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