Hsbc
Deferred Interest Charges Inaccurate

3 Years ago, I bought a plasma TV and opened a credit card account through Best Buy. It was classified as a no interest for 3 years if balance paid in full, and I had no choice in choosing a different plan. My husband has been paying on my account since then, and although we have made other purchases thereafter, he has always paid well over the minimum payment required to pay off the TV balance. Yesterday I received a statement posting a total of $1,767.80 deferred interest charges on an initial balance of $1690.00 to my account due to non-payment of this balance. After calling them, they said that this was accurate and that I needed to pay it, period. After further investigation of my account, I found out that any overpayment made by us was applied to my "same as cash balances" and not my 1st balance (oldest balance) as it should have been done. I refuse to pay so much interest on a balance that should have been paid off long ago if it had been done properly by this bank. This has brought my current balance due to a much higher amount than what my credit limit is, damaging my perfect credit history until now. It is unacceptable that a bank of this size resorts to bullying their customers into paying fees by cheating on postings of payments. They know what they are doing and are cheating the system.

Company: Hsbc
Country: USA

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