• Report: #765405

Complaint Review: HSBC

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Mon, August 15, 2011
  • Updated: Mon, August 15, 2011

  • Reported By: AST — Carlsbad California U.S.A.
HSBC
Internet United States of America

HSBC HSBC / BestBuy "deferred interest" Internet, Internet

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

After making every payment timely, HSBC and/or BestBuy arbitrarily and without notice, appplied and interest rate of 24+% to PREVIOUS balances after the no/low interest rate period expired.

I was told by BestBuy and logically understood at the time of purchase that after the "teaser" period expired, whatever balance remained would accrue interest at market rates.  With 10-year Treasuries at 2.2%, 25 is a tad high IMO. :)

An HSBC offered to remove 50% of the interest charges on the condition that I immediately pay the outstanding balance which still included 50% of "rip-off" interest.

Even if you dispute charges (of any sort, for any reason), these big cap companies are prone to slaughtering you at the credit bureaus.  I could not take that chance, so I paid the extortion.

I have asked BestBuy/HSBC for any and all written agreements.  I  plan to request a credit (now refund) of the improper interest charges, and refer the matter to consumer complaint organizations and my atty general.

Since I will never buy anything from BestBuy and/or HSBC again, I asked their rep why they engage in these practices since it must cost them much more in ill will then it generates in ill-got profits.  The rep just snickered.
In fact, i was about to make a monster purchase of appliances and TVs.  All of mine are now 7+ years old.

This report was posted on Ripoff Report on 08/15/2011 12:49 PM and is a permanent record located here: http://www.ripoffreport.com/r/HSBC/internet/HSBC-HSBC-BestBuy-deferred-interest-Internet-Internet-765405. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on HSBC

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory