• Report: #814600
Complaint Review:

Menard's Credit Card HSBC

  • Submitted: Tue, December 27, 2011
  • Updated: Tue, December 27, 2011

  • Reported By: ''Ed Off — Toledo Ohio United States of America
Menard's Credit Card HSBC
Toledo, Ohio United States of America

Menard's Credit Card HSBC Unfair application of payments Toledo, Ohio

REBUTTAL BOX™ | Respond to this Report! | Consumer Comment

What's this?
Corporate Advocacy Program

Show customers why they should trust your business over your competitors...

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™

Set the record straight:
Arbitration Program

SEO Reputation Management at its best!

HSBC processes the Big Card credit card for Menard's Home Improvement Centers.  Their accounting for payments on their credit cards is abysmal at best and I believe fraudulent.  Menard's runs Same As Cash promotions for purchases made over $299.  Sometimes it's a 6 month credit for the purchase, sometimes it's a 12 month credit plan.  As long as you make the min monthly payment and pay off the balance by the promotion due date, you aren't charged interest.  So far, so good.  

However, if you also make smaller purchases ( as I did ) while you have a promotion being paid off ( as I did ) trouble starts.  In order to avoid interest charges, you must pay the monthly min PLUS the total amount of the smaller charges (which I did on several months ).  

And here's how HSBC rips off consumers.  They will take any payment over the min. monthly payment and apply it to pending credit promotions.  Even though the total payment isn't due yet.  And even though the smaller non promotion purchases will accrue interest at 24.99% !!!

So basically, they are defrauding consumers into thinking they have the full promotion time period to pay off the promotion credit purchase.  And they are mis-appropriating payments and applying them in such a way as to charge interest they aren't entitled to.  

Haven't had a chance to research this yet, but there has to be credit card legislation against this.

This report was posted on Ripoff Report on 12/27/2011 08:37 PM and is a permanent record located here: http://www.ripoffreport.com/reports/menards-credit-card-hsbc/toledo-ohio-/menards-credit-card-hsbc-unfair-application-of-payments-toledo-ohio-814600. 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. READ: Foreign websites steal our content

Click Here to read other Ripoff Reports on Menard's Credit Card 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?