Complaint / review text:
I spent 26 days in the hospital but before my surgery, I suspended my bill pay service through my bank. I did so because I would not be available to monitor my disability checks or amounts. Yesterday, HSBC called, the lender on my Best Buy credit card. I had fallen behind one month. I've never been late on a payment and pay more than the minimum due each month. I told the HSBC representative that I was in the hospital and was prepared to make the payment. To her credit, she reversed the $24 late fee.
However, because of being late in one month, HSBC raised my minimum payment to $62. Meaning, I'll pay a higher minimum, my interest rate increases and it extends my payoff. Watch out if you made a purchase for no-interest providing you pay it off within a certain time frame. Keep in mind all this as a result of being one month late. That’s a thank you for being a good customer? I paid them for two months thinking it was resolved. I received 11 days later (today), a letter threat that I would be reported to the credit bureaus.
I guess they forgot how to credit the payment? I decided to write this so that other consumers might steer away from this lender. I’ve torn up my BB card out of self-respect and that HSBC will not gain from my spending during the holidays or any future time. I also received a letter that their $24 late fee is now $35. I believe the business practices of this particular lender are unreasonably punitive.