HSBC = bunch of crooks

  • 360Varial
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Post 3+ Months Ago

I guess just like most banks but this one in particular make it so dang obvious. I have a Best Buy credit card which is financed through HSBC. I have been hit with a late fee of $29 already. My payment was due on the same day that I made it but it posted the next day. Ok that's fine I can see how that could possibly be a late fee. So today I go to pay my bill and it's the 10th. The due date is the 11th. They automatically make my payment date as the 12th which would make it late. So I call HSBC and an agent tells me that I can avoid the late fee by making a phone payment. I say alright I'll pay over the phone. How about this heifer tells me that it's a $15 fee to pay over the phone! WTF?! Why do the government/public allow such crooks to exist? I search the internet and I find reviews on epinion and people are complaining about the same thing. Where does this money go? It's things like this that make me not even want a credit card. I have a confirmation number and it should show in their system when I made the payment, so why can't they just accept that date instead of their so-called posting date? When I was charged the late fee the first time, I paid the bill early that morning the day the bill was due. It posted the very next day. Today, I pay a day early and it suddenly takes two days to post. Why does one time it takes one day to post and the next time it takes two days to post? It's not even the weekend or a holiday. :evil:
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Post 3+ Months Ago

  • joebert
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Post 3+ Months Ago

Best thing to do is not wait untill the last minute to pay your bill. :D

Call them once a day at different times & try reasoning with whoever you're talking too for a few minutes. Unless you're just a worthless bum who never pays on time & is always going over your limit eventually someone will give you a break.
  • 360Varial
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Post 3+ Months Ago

joebert wrote:
Best thing to do is not wait untill the last minute to pay your bill. :D

Call them once a day at different times & try reasoning with whoever you're talking too for a few minutes. Unless you're just a worthless bum who never pays on time & is always going over your limit eventually someone will give you a break.


I do pay my bills on time. I just got this card and honestly it has almost slipped my mind these first couple of months. The big issue here is these people have some outrageous fees and I'm just trying to understand why. It's not just them. Bank of America has very high fees as well. Recently, I guess it's because I was half sleep and in a hurry, but I entered the wrong amount to pay on a bill. I called the company immediately to tell them I wanted to cancel that payment that hadn't gone through yet and make a different payment. They tell me that they can't do that, my bank would have to do that. I call my bank and they tell me they can't do that the merchant would have to do that. You see what I'm saying? They play so many bs games. I'm not an irresponsible person but I do make mistakes. With technology being as advanced as it is, why the hell does it take you 2-5 days or more to process a payment? Why charge $100 for a credit application fee when it's costing you almost nothing? Why do a person late with a $10 payment have to pay the same amount as someone late for a $100 payment? Why are you charging me $15 to take my credit card information over the phone? These things just don't make sense to me. Maybe you can deal with these things better if you're well off but most of us aren't. I'm starting to see why so many people do the illegal things that they do. I do understand that everyone should be responsible and prioritize their bills but that shouldn't excuse these people from ripping off consumers the way that they do.
  • SB
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Post 3+ Months Ago

I see where you are coming from, but why not look at alternative ways of payment other than via the phone?

My credit card statements come in and i have nearly a month to pay the bill. This is good, i usually get it done on time but like you i've been known to forget about it once or twice. However, if i do leave it to the very last day i know that by logging onto my digital banking i can do a transaction over that which is of no charge and is paid instantly providing it is done within office hours.

The best possible scenario unfortunately is to just bin the card. Is it really worth the hassle of having a credit card? I've had a card for about 3-4 years now and at times i've had my balance sitting nearing the allocated amount but always seem to get it down eventually. It is handy having the card as a backup, however alot of people see it as another source of money that they can pay back whenever. If you can't afford to live off what you are currently earning then it's maybe time you look for another job? That's by no means a dig at you, it's a general thing. This whole "Credit Crunch" that's affecting the US and UK (as well as other countries) economies because people are spending what they don't have. It's time peoples attitude towards money changes a bit.
  • George L.
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Post 3+ Months Ago

That's why Credit card has charged most credit card debtors billions of dollars in US I think. It's still left unpaid. And this has made many many early working adults brankruptcy.

It goes to being discipline enough to pay your bills on time and like SB said being able to earn the amount you spend. Hopefully, if possible make a 10% saving for yourself every month.
  • 360Varial
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Post 3+ Months Ago

SB wrote:
I see where you are coming from, but why not look at alternative ways of payment other than via the phone?

My credit card statements come in and i have nearly a month to pay the bill. This is good, i usually get it done on time but like you i've been known to forget about it once or twice. However, if i do leave it to the very last day i know that by logging onto my digital banking i can do a transaction over that which is of no charge and is paid instantly providing it is done within office hours.

The best possible scenario unfortunately is to just bin the card. Is it really worth the hassle of having a credit card? I've had a card for about 3-4 years now and at times i've had my balance sitting nearing the allocated amount but always seem to get it down eventually. It is handy having the card as a backup, however alot of people see it as another source of money that they can pay back whenever. If you can't afford to live off what you are currently earning then it's maybe time you look for another job? That's by no means a dig at you, it's a general thing. This whole "Credit Crunch" that's affecting the US and UK (as well as other countries) economies because people are spending what they don't have. It's time peoples attitude towards money changes a bit.



I can afford the payment. And No, my first option to pay was not through the phone. I never pay over the phone. I paid it through my checking account. They have this online system were they have your bank account info already on file (because that's how I made my last payment). That's what has me mad; the fact that it seems to take them as long as it takes to make your payment late to withdraw money from your account. I don't feel that the consumer should be held responsible for the processing time. That's beyond our control. What's the point of having a due date when you have to pay it 7-10 days early anyway? I can see if I sent it by donkey mail but this was electronic. And I'm still trying to figure out what the hell they were going to do with a $15 phone fee. For the same price or less, I could get USPS to deliver them a money order overnight and that's WITH insurance and delivery confirmation. Crazy world.
  • celandine
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Post 3+ Months Ago

banks are bastards and they pray on the people who don't read the small print. you just have to keep four eyes open and read every scrap they give you and ask a million questions and change banks - hassle though it is - when you find yours is ripping you off too badly. there's no other cure for it. they all do it to some degree... but some - like yours - are just unforgivably cheeky.
  • Hob Bramble
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Post 3+ Months Ago

360Varial wrote:
I go to pay my bill and it's the 10th. The due date is the 11th.

360Varial wrote:
I do pay my bills on time.


As joebert said: don't wait until the last minute. Sure, the 10th should be on time, but it would be far more prudent to pay earlier - say, the 5th - to avoid things like this happening

As ridiculous as a $15 over-the-phone fee is, you've got to remember that these guys are running a business, and as such, what they charge is up to them. They know that there are going to be people waiting until the last moment, and they know that those people are going to want over the phone payment, so they charge a lot for them, knowing those people won't have a whole lot of choice in the matter.

I'm not defending them, per say, and I do think it's a crazy fee, but the fact is, there really isn't anything you can do about it. They've built the game, they make the rules - we just get stuck playing it.
  • joebert
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Post 3+ Months Ago

On the bright side when you don't pay all they do is report you to a collection agency who in turn just calls you every day and reminds you to pay up or they'll have to sell your debt to another collection agency.

They could always take the simple route and burn your house down.
  • George L.
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Post 3+ Months Ago

celandine wrote:
banks are bastards and they pray on the people who don't read the small print.


wow. They're not. We still need to borrow money from them to buy house. It can make you richer or poorer depending on your financial knowledge.

I don't like the idea of borrowing money from bastards. You'll know what I mean if you enroll yourself in some finance courses.

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