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.