• Report: #1074458

Complaint Review: HSBC/ CAPITAL ONE RETAIL SERVICES

  • Submitted: Fri, August 09, 2013
  • Updated: Wed, May 28, 2014

  • Reported By: Carol — Long Beach California
HSBC/ CAPITAL ONE RETAIL SERVICES
PO BOX 60504 CITY OF INDUSTRY, California USA

HSBC/ CAPITAL ONE RETAIL SERVICES THEY ARE RIPPING THE COMUSMERS AND OFF CITY OF INDUSTRY California

*Consumer Comment: Not a Ripoff

*Consumer Comment: Well..

*Consumer Comment: comment

*Consumer Comment: question

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 CAPITAL ONE RETIAL SERVICES BEST BUYS/ CHARGED ME A RIDICOUSL INTREST RATE OF ALMOST 25% AFTER MAKING MY PAYMENTS ON TIME. HOW DARE THEY CHARGE ME A $3119.15 ADDITONAL INTEREST WITHOUT SENDING ME A WARNING NOTICED. THIS WAS PURCHEED 2010 AND I AM SUPPOSE TO REMEMBER THAT MY DEFFERED INTEREST WILL EXPIRED SOON? I WILL NEVER BUY FROM BEST BUY AGAIN. I WILL DISPUTED THIS OUTRAGEOUS INTEREST CHARGE.

Carol, Long Beach, CA


This report was posted on Ripoff Report on 08/09/2013 10:23 AM and is a permanent record located here: http://www.ripoffreport.com/r/HSBC-CAPITAL-ONE-RETAIL-SERVICES/CITY-OF-INDUSTRY-California-91716-0504/HSBC-CAPITAL-ONE-RETAIL-SERVICES-THEY-ARE-RIPPING-THE-COMUSMERS-AND-OFF-CITY-OF-INDUSTRY-1074458. 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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#1 Consumer Comment

Not a Ripoff

AUTHOR: Robert - ()

The terms of your financing were disclosed in the documents that you signed when you agreed to take advantage of the interest free period.  I agree that, as a courtesy,  they should have sent you a reminder prior to the end of the interest free period but yes, you are supposed to remember.

 

These finance companies/banks make a lot of money on these types of "interest free" loans due to people not remembering the terms of the agreement.

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#2 Consumer Comment

Well..

AUTHOR: Robert - ()

 THIS WAS PURCHEED 2010 AND I AM SUPPOSE TO REMEMBER THAT MY DEFFERED INTEREST WILL EXPIRED SOON?

- In one word..YES.

To expand on this, they do inform you.  Now it isn't a singing telegram with flashing neon signs, but it is in your statement that you receive every month.  They also didn't just "charge" you this interest.  This interest has been charged from day one..it has just been "accrued".  As such I would also bet that if you go back and look at your bill you will see a separate column for this "accrued" interest.   But even if it wasn't there you knew you bought this under a special promotion and should have realized it was coming due soon and if you had any questions to contact them.

Now, I will say one thing that accidents do happen.  So if you call them up and in a professional tone(ie no screaming or yelling).  Say you missed the final payment because you somehow didn't know.  I have heard that SOMETIMES if you make the full payment of the remaining promotional balance right then they will waive the additional interest.  Of course this is no guarantee.  It also brings up the point that if you can't do that..then it really wouldn't matter if they notified you or not now does it?

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#3 Consumer Comment

comment

AUTHOR: Jeanski - ()

You can try and dispute it, but I bet the end date of the promotional period is on your monthly bills. Might want to check that before you make a fool of yourself. They have every right to charge the full interest if the bill wasn't paid in full by the end of that period. It's standard practice.

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#4 Consumer Comment

question

AUTHOR: Stacey - ()

 What are you talking about??? Your report makes not a bit of sense!!!!

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