Apr 20, 2010 01:55 PM
3759 Views
(Updated Apr 26, 2010 03:41 PM)
I have had HSBC Credit Card since a long time and have used it quite many times. I was always careful about credit card payments and ensured that payments were made on time. Below is one of my worst experience with the HSBC Gold Credit Card. I had purchased a Cellphone on behalf of a friend who did not have a credit card as he wanted to pay it off in 6 installments. I did the purchase thinking that EMI conversion was available.
Next day I call the customer care and to my surprise I was told that the EMI facility was withdrawn. I was not even aware as there was no communication informing me that the EMI conversion facility was withdrawn.
Lesson Learnt #1: HSBC can provide facility at time of giving credit card and withdraw the same without information.
Well, I thought so what..i can opt for the balance to be transferred to another card of mine (standard charted). I did the balance transfer everything went well until I got my next bill from HSBC. I had not asked for the last outstanding amount from HSBC properly and missed 240 Rs. of the total amount to be paid to HSBC. For this I now have to Pay a total of Rs. 702.28.
This is because they had included the interest charges for the entire outstanding for one month plus the remaining 240/-. So for the outstanding amount of 240/- I ended up paying double the charges plus the outstanding. Refer the attached image..a screenshot of the bill.
I was always paying off my dues in time previously and never missed payment and hence called the customer care hoping that charges may be reversed. One lady receives the call and informs me...we would have happily reversed the charges if you had not opted for balance transfer!!!. Just because I had opted for balance transfer, the interest charges will not be reversed. The reason I went for balance transfer was because they had withdrawn the EMI conversion facility.
Lesson Learnt #2: Never deal with HSBC in future. They just are crooks with no incentives for paying on time and not absconding.
I am done with HSBC and I am sure I will not have anything to do with these people in future. I have heard of people who run outstanding bill amounts to 80000/- and then come to agreements to pay 1/4 the total outstanding, etc and these guys penalize those who pay in time.
Well, it was my mistake of not taking care of getting the outstanding amount clearly. Anyways I have now become wiser but at the cost of 450/-. Friends, be careful with HSBC gold credit card. These guys do not have proper cheque drop facilities. Net banking card-to-card / Visa transfer is a best way else they use SKYPAK drop boxes in smaller cities.
Strange: why do the reviews of HSBC cards in mouthshut do not appear in google when we search for it ?? any ideas ?
Update: 26-Apr-2010
I had called up the customer care center to get my card canceled. The call was passed on to the cancellation department who asked for the reason for canceling the card. I gave the above reason and also mentioned that I did not like the fact that a customer who pays on time is being penalized for missing payment of only 240/-. they apologized for the "inconvenience" and I was told that the charges would be immediately reversed if I continued to use the card. Well, as of now, I have agreed not to cancel the card. hope to see the charges reversed in the next statement. I also asked them to inform me of any changes in the facilities well in advance and not spring a surprise for which I was told it would be done and also would be taken as a suggestion.
Hope everything goes well.
