Post subject: HSBC Credit Card Balance Transfer Error
Guest: usmsci
Credit Expert (100+ Posts)
Post subject: HSBC Credit Card Balance Transfer Error
Posted: Thu Sep 21, 2006 10:47 pm
i made a BT for HSBC for the amount of $1700 with a cash advance fee of $51. due to an inadvertent processing error the transfer amount was posted and deposited twice into my checking account. They caught the error put double transfer back(as requested by them that i do by a certain date via a letter in the mail) on my card and i paid the $1700 back. but here IS THE CRUX OF the thing....
the second BT that they made into my checking account also accrued another $51 or 3% finance charge. I have paid the $1700 back and i have emailed them TWICE trying to explain that it was THEIR fault that they BT'd it twice and they should reverse the 2nd 3% finance charge but both times i have met a brick wall.
I dont know what my rights are concerning this but i will NOT settle for this. It was THEIR fault.. NOT MINE and i am pissed. i guess their CSR's somewhere in the desert of India cannot understand why i am within my rights as a cardholder to get that 3% back. heres the last response i got from them..
Quote:
Unfortunately, we are unable to comply with your request to remove the cash fee finance charge from your account. According to your Cardmember Agreement and Disclosure Statement, you agree to pay a cash advance fee on the amount of each cash advance. Cash advances include all advances made by cash over the counter, through an ATM, by check, balance transfers, or any other cash-like
transactions which will be determined by us.
Thank you for using our online services.
Sincerely,
Nishar
HSBC Credit Card Customer Care
Again it was an error on their end not mind. why should have to pay for a second cash advance fee? please tell me that i am not insane.. thanks for all your help!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Sep 21, 2006 10:53 pm
usmsci wrote:
i made a BT for HSBC for the amount of $1700 with a cash advance fee of $51. due to an inadvertent processing error the transfer amount was posted and deposited twice into my checking account. They caught the error put double transfer back(as requested by them that i do by a certain date via a letter in the mail) on my card and i paid the $1700 back. but here IS THE CRUX OF the thing....
the second BT that they made into my checking account also accrued another $51 or 3% finance charge. I have paid the $1700 back and i have emailed them TWICE trying to explain that it was THEIR fault that they BT'd it twice and they should reverse the 2nd 3% finance charge but both times i have met a brick wall.
I dont know what my rights are concerning this but i will NOT settle for this. It was THEIR fault.. NOT MINE and i am pissed. i guess their CSR's somewhere in the desert of India cannot understand why i am within my rights as a cardholder to get that 3% back. heres the last response i got from them..
Quote:
Unfortunately, we are unable to comply with your request to remove the cash fee finance charge from your account. According to your Cardmember Agreement and Disclosure Statement, you agree to pay a cash advance fee on the amount of each cash advance. Cash advances include all advances made by cash over the counter, through an ATM, by check, balance transfers, or any other cash-like
transactions which will be determined by us.
Thank you for using our online services.
Sincerely,
Nishar
HSBC Credit Card Customer Care
Again it was an error on their end not mind. why should have to pay for a second cash advance fee? please tell me that i am not insane.. thanks for all your help!
They must think you are asking for BOTH fees back or don't think they made any mistake
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: usmsci
Credit Expert (100+ Posts)
Posted: Thu Sep 21, 2006 10:57 pm
mouse wrote:
usmsci wrote:
i made a BT for HSBC for the amount of $1700 with a cash advance fee of $51. due to an inadvertent processing error the transfer amount was posted and deposited twice into my checking account. They caught the error put double transfer back(as requested by them that i do by a certain date via a letter in the mail) on my card and i paid the $1700 back. but here IS THE CRUX OF the thing....
the second BT that they made into my checking account also accrued another $51 or 3% finance charge. I have paid the $1700 back and i have emailed them TWICE trying to explain that it was THEIR fault that they BT'd it twice and they should reverse the 2nd 3% finance charge but both times i have met a brick wall.
I dont know what my rights are concerning this but i will NOT settle for this. It was THEIR fault.. NOT MINE and i am pissed. i guess their CSR's somewhere in the desert of India cannot understand why i am within my rights as a cardholder to get that 3% back. heres the last response i got from them..
Quote:
Unfortunately, we are unable to comply with your request to remove the cash fee finance charge from your account. According to your Cardmember Agreement and Disclosure Statement, you agree to pay a cash advance fee on the amount of each cash advance. Cash advances include all advances made by cash over the counter, through an ATM, by check, balance transfers, or any other cash-like
transactions which will be determined by us.
Thank you for using our online services.
Sincerely,
Nishar
HSBC Credit Card Customer Care
Again it was an error on their end not mind. why should have to pay for a second cash advance fee? please tell me that i am not insane.. thanks for all your help!
They must think you are asking for BOTH fees back or don't think they made any mistake
no i gave them the dates and times per my account when the BT's were made. the first email i got from some girl in india was saying something referring to my first BT, the one that i actually authorized...and it seemed like she didnt even look at the other BT that was extra that i did not authorize and didnt know anything about. should i continue to email or should i call? if i cant get this solved should i threaten to go to the FTC? or who or what should i do?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: JoyJoy
Credit Expert (100+ Posts)
Posted: Fri Sep 22, 2006 6:48 am
I would definitely call them!
This happened to me with Amex and I called. The matter was taken care of by the next day. The CR had given me the phone number of the balance transfer dept also. I would ask for the balance transfer dept with HSBC.
I remember Mouse saying I should have asked for a credit line increase while I had them on the phone also, because my account was showing me as being over the limit with Amex doing two balance transfers to my account instead of one. I know they reversed one for you but not the charges. Might as well ask them for extras while they are in the wrong lol.
Emailing is okay sometimes but a serious matter like this should be handled by phone. I would ask to speak to a supervisor if the CR seems puzzled as to what is happening.
Good luck!
_________________
J~J
"You may never know what results come from your action. But if you do nothing, there will be no result." Mahatma Gandhi
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Credit Expert (100+ Posts)
Post subject: HSBC Credit Card Balance Transfer Error
Posted: Thu Sep 21, 2006 10:47 pm
i made a BT for HSBC for the amount of $1700 with a cash advance fee of $51. due to an inadvertent processing error the transfer amount was posted and deposited twice into my checking account. They caught the error put double transfer back(as requested by them that i do by a certain date via a letter in the mail) on my card and i paid the $1700 back. but here IS THE CRUX OF the thing....
the second BT that they made into my checking account also accrued another $51 or 3% finance charge. I have paid the $1700 back and i have emailed them TWICE trying to explain that it was THEIR fault that they BT'd it twice and they should reverse the 2nd 3% finance charge but both times i have met a brick wall.
I dont know what my rights are concerning this but i will NOT settle for this. It was THEIR fault.. NOT MINE and i am pissed. i guess their CSR's somewhere in the desert of India cannot understand why i am within my rights as a cardholder to get that 3% back. heres the last response i got from them..
Quote:
Unfortunately, we are unable to comply with your request to remove the cash fee finance charge from your account. According to your Cardmember Agreement and Disclosure Statement, you agree to pay a cash advance fee on the amount of each cash advance. Cash advances include all advances made by cash over the counter, through an ATM, by check, balance transfers, or any other cash-like
transactions which will be determined by us.
Thank you for using our online services.
Sincerely,
Nishar
HSBC Credit Card Customer Care
Again it was an error on their end not mind. why should have to pay for a second cash advance fee? please tell me that i am not insane.. thanks for all your help!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Sep 21, 2006 10:53 pm
usmsci wrote:
i made a BT for HSBC for the amount of $1700 with a cash advance fee of $51. due to an inadvertent processing error the transfer amount was posted and deposited twice into my checking account. They caught the error put double transfer back(as requested by them that i do by a certain date via a letter in the mail) on my card and i paid the $1700 back. but here IS THE CRUX OF the thing....
the second BT that they made into my checking account also accrued another $51 or 3% finance charge. I have paid the $1700 back and i have emailed them TWICE trying to explain that it was THEIR fault that they BT'd it twice and they should reverse the 2nd 3% finance charge but both times i have met a brick wall.
I dont know what my rights are concerning this but i will NOT settle for this. It was THEIR fault.. NOT MINE and i am pissed. i guess their CSR's somewhere in the desert of India cannot understand why i am within my rights as a cardholder to get that 3% back. heres the last response i got from them..
Quote:
Unfortunately, we are unable to comply with your request to remove the cash fee finance charge from your account. According to your Cardmember Agreement and Disclosure Statement, you agree to pay a cash advance fee on the amount of each cash advance. Cash advances include all advances made by cash over the counter, through an ATM, by check, balance transfers, or any other cash-like
transactions which will be determined by us.
Thank you for using our online services.
Sincerely,
Nishar
HSBC Credit Card Customer Care
Again it was an error on their end not mind. why should have to pay for a second cash advance fee? please tell me that i am not insane.. thanks for all your help!
They must think you are asking for BOTH fees back or don't think they made any mistake
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: usmsci
Credit Expert (100+ Posts)
Posted: Thu Sep 21, 2006 10:57 pm
mouse wrote:
usmsci wrote:
i made a BT for HSBC for the amount of $1700 with a cash advance fee of $51. due to an inadvertent processing error the transfer amount was posted and deposited twice into my checking account. They caught the error put double transfer back(as requested by them that i do by a certain date via a letter in the mail) on my card and i paid the $1700 back. but here IS THE CRUX OF the thing....
the second BT that they made into my checking account also accrued another $51 or 3% finance charge. I have paid the $1700 back and i have emailed them TWICE trying to explain that it was THEIR fault that they BT'd it twice and they should reverse the 2nd 3% finance charge but both times i have met a brick wall.
I dont know what my rights are concerning this but i will NOT settle for this. It was THEIR fault.. NOT MINE and i am pissed. i guess their CSR's somewhere in the desert of India cannot understand why i am within my rights as a cardholder to get that 3% back. heres the last response i got from them..
Quote:
Unfortunately, we are unable to comply with your request to remove the cash fee finance charge from your account. According to your Cardmember Agreement and Disclosure Statement, you agree to pay a cash advance fee on the amount of each cash advance. Cash advances include all advances made by cash over the counter, through an ATM, by check, balance transfers, or any other cash-like
transactions which will be determined by us.
Thank you for using our online services.
Sincerely,
Nishar
HSBC Credit Card Customer Care
Again it was an error on their end not mind. why should have to pay for a second cash advance fee? please tell me that i am not insane.. thanks for all your help!
They must think you are asking for BOTH fees back or don't think they made any mistake
no i gave them the dates and times per my account when the BT's were made. the first email i got from some girl in india was saying something referring to my first BT, the one that i actually authorized...and it seemed like she didnt even look at the other BT that was extra that i did not authorize and didnt know anything about. should i continue to email or should i call? if i cant get this solved should i threaten to go to the FTC? or who or what should i do?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: JoyJoy
Credit Expert (100+ Posts)
Posted: Fri Sep 22, 2006 6:48 am
I would definitely call them!
This happened to me with Amex and I called. The matter was taken care of by the next day. The CR had given me the phone number of the balance transfer dept also. I would ask for the balance transfer dept with HSBC.
I remember Mouse saying I should have asked for a credit line increase while I had them on the phone also, because my account was showing me as being over the limit with Amex doing two balance transfers to my account instead of one. I know they reversed one for you but not the charges. Might as well ask them for extras while they are in the wrong lol.
Emailing is okay sometimes but a serious matter like this should be handled by phone. I would ask to speak to a supervisor if the CR seems puzzled as to what is happening.
Good luck!
_________________
J~J
"You may never know what results come from your action. But if you do nothing, there will be no result." Mahatma Gandhi
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:43 PM
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