Just as in other usacomplaints.com, I'm reporting the same HSBC scam. I got my HSBC card a few years ago while in grad school and have had only minor problems with it since. Just this month, however, I attempted to pay my bill online on the day it was due, but was alerted via an onscreen message that I needed to pay an extra $15.00 "Rush" charge to make extra-special sure that I was paying on the due date.
Apparently, HSBC lacks the technology to process payments the same day they are made. I have all my bills listed in Excel by their due dates. When the date of payment arrives, I make sure it's paid. However, I learned that the "due date" means something else at HSBC. I elected not to pay the fee, reasoning that it was early in the day on the date it was due, something must be in error. Sure enough, a $35.00 late fee appeared on my account shortly thereafter.
I don't care what the agreement says, this is a completely egregious scam maticuolously crafted to increase Co. Revenue at the cardholders' expense. If you can't see that this is a scam crafted to take advantage of sub-prime cardholders, than something is seriously wrong with your reasoning. What other reputable company does this? Of every bill I pay, there is not one that charges me for submitting my payment on the date it is due. Additionally, HSBC's late fees rival the late fees of payments as large as mortgage payments.
I've got a brilliant idea. Let's charge our beloved customers half the late fee to pay on the date the bill is due, because it's almost late, and our late fees are so rediculously high, who in their right mind wouldn't want pay just $15.00. Here's something even better. Lets say that the bill is due on the 15th of the month when we send out the paper bill, but then, when our beloved customers go online to pay the bill on the date it's due, we'll say, Ah Ha, you have to do that two days before the bill is due. Pay up, $15.00 please. Or, if you would not like to pay the $15.00 "Rush" fee, Ah Ha, $35.00 please. Thank you beloved customer.
Yes, we'll make millions!
If the date to make an online payment is two days earlier than the actual due date, then maybe that stipulation should be reflected in the actual due date to cover their lack of electronic payment technology.
This is a quote from the company website. "Our credit cards are designed to help manage everyday life. From the unexpected expenses to those special opportunities that come up when least expected."
Guess we know now where HSBC gets their knowledge of "unexpected expenses."
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