Best Buy Credit Card -deceptive trade practices

Posted Tue November 22, 2011 8:57 am, by Brett R. written to HSBC Bank USA

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I was a cardholder for HSBC/Best Buy card back in 1999. That account was closed. I opened a new account in 2010 that was put in their "plan b" program without any notification. Their "plan b" program provides a very minimal balance without the opportunity to increase the limit. Had I been made aware of this, I likely would not have accepted the card.

Since they gave me every impression that I had a normal card, I proceeded to use the card frequently in hopes of increasing the limit so that I could make the TV purchase for which I originally applied. It was considerably more than the limit I was given originally. After about 8 months of frequent use and perfect payment history, I applied for a credit limit increase only to find out that the limit I had was "the maximum amount allowed for my type of account".

I talked to several customer service reps and multiple supervisors all of which informed me that since I was "plan b" that my only option to get a credit limit increase would be to close that account and reapply.

I did not want to do this, because it would put another inquiry on my credit as well as another account on my credit both of which would negatively impact my credit score.

In September of 2011 I contacted them again about the issue, and a rep suggested that I close the account and reapply in store. She went on to say that I could call back and get HSBC to merge the new account with the recently closed account which would make it appear as one account on my credit report.

Taking the HSBC rep's advice, I closed my existing account and reapplied at the store and was approved for an adequate limit to make my purchase. A month later I contacted HSBC to have the merge the my accounts and was told that HSBC does not merge accounts.

This whole scenario is very frustrating. In my opinion, its a very deceptive practice on the part of HSBC to be so hush hush about putting someone into a plan that greatly restricts their ability to use the card as they may have intended when they applied, and then to have in place a policy that allows them no leeway to correct the problem once its done.

I would very much like for HSBC to merge my Best Buy credit accounts so that my current account reflects my original account open date, and that the accounts are reported as only one account on my credit report.