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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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Grandfather furious over Best Buy payment scam

JL in Indiana said: “My grandson purchased a stereo for his car at Best Buy in early 2008. His payments were $19 per month. In May, he enlisted in the Marines and went to boot camp. I made payments for him. My grandson came back from boot camp and found a letter that his initial $550 bill was now $700+ due to late charges. I know I sent in the payment at least 4 days before it was due. I feel that this is a terrible injustice to my grandson and will not use Best Buy again.

In the future, I told my grandson to save his money and pay cash or use a reputable credit card.”

Posted By Timothy Blake

HSBC Watch is a watchdog and consumer activist coalition.

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off