HSBC Mastercard Mess!

Mevater

Tue, Sep 18 2007, 2:02 pm

I was told throughout the year that I used my HSBC Mastercard Cash Back card, that at the time of my anniversary of the account, I would get my Cash Back in check form enclosed with the first statement after my anniversary. I started to use this card in August 2006 for that reason.

I was NOW told that because of "a change" what I was originally told numerous times, is not so. They now say- If I notify them after receipt of my next statement, they will use my cash back money owed me towards my balance. They say they are allowed to do this because in the fine print of the User Agreement it states that they are allowed to make changes at any time, in how Cash Back is paid to Cardholders!
This change was instituted in August - after I was already owed $500 in Cash Back from them.

Does this mean that if it states in the fine print that changes can be made in regard to Cash Back- they can decide to pay me in twenty years too? This is ridiculous.

Is there anything to do?

Mevater

Tue, Sep 18 2007, 2:26 pm

Mama Bear wrote:

unfrotunately you have been the victim of a scam. I just read this in the readers digest.

I can't believe that Mastercard will get away with this. This isn't a Jo Shmo company!

Mom2Three

Tue, Sep 18 2007, 2:27 pm

Mama Bear wrote:

unfrotunately you have been the victim of a scam. I just read this in the readers digest.

So the credit card company perpetrated a scam on her? Does she have an recourse, maybe with the state attorney general or something?

TammyTammy

Tue, Sep 18 2007, 2:40 pm

Generally speaking, credit card companies have the right to change the terms of the card anytime they want. You have thirty days to agree to the changes or else to close your account. If they don't hear from you (as they don't hear from 99.999999% of cardholders) then it is understood that you are accepting the change.

I would advise you to contact them, speak kindly and gently to a CSR* and see if you can work something out. If you don't get satisfaction, ask for a supervisor and escalate the matter.

Tammy

* Having worked in customer service for almost ten years, I can tell you that if you want something done, you have to be kind to the CSRs. Yelling and screaming at them won't do it -- they didn't cause your problem and if you are pleasant and make them want to help you, you'll go much farther than if you alienate them in the first minute of the call with a lot of negativity.

TammyTammy

Tue, Sep 18 2007, 2:41 pm

Mom2Three wrote:

Mama Bear wrote:

unfrotunately you have been the victim of a scam. I just read this in the readers digest.

So the credit card company perpetrated a scam on her? Does she have an recourse, maybe with the state attorney general or something?

I don't think it's a scam. HSBC is a large, well-known company. They probably changed the terms of the card and the OP (as I do sometimes) probably didn't read through the legalese when she got her statement or notice of change.

Tammy

Mevater

Tue, Sep 18 2007, 2:45 pm

TammyTammy wrote:

Mom2Three wrote:

Mama Bear wrote:

unfrotunately you have been the victim of a scam. I just read this in the readers digest.

So the credit card company perpetrated a scam on her? Does she have an recourse, maybe with the state attorney general or something?

The change in policy was made after I was already owed $500.

TammyTammy

Tue, Sep 18 2007, 3:11 pm

letsbehonest wrote:

TammyTammy wrote:

Mom2Three wrote:

Mama Bear wrote:

unfrotunately you have been the victim of a scam. I just read this in the readers digest.

So the credit card company perpetrated a scam on her? Does she have an recourse, maybe with the state attorney general or something?

The change in policy was made after I was already owed $500.

My guess (and it is only a guess -- IANAL) is that this, too, is legal.

I highly advise you to call HSBC's customer service and see if you can get this resolved with them. In the name of good customer service, they may just do it. It's not like they're going to get rich off your $500 and the negative publicity could cost them a lot more than that.

Tammy

Mevater

Tue, Sep 18 2007, 3:44 pm

TammyTammy wrote:

I highly advise you to call HSBC's customer service and see if you can get this resolved with them. In the name of good customer service, they may just do it. It's not like they're going to get rich off your $500 and the negative publicity could cost them a lot more than that.

Tammy

Thanks- I called HSBC and got nowhere. I gave up on them. I then called Mastercard and got a nice sounding Supervisor who advised me to email THEIR Consumer Support dept. re- "Dispute with Financial Institution" and he said that dept. would try to intervene.

boruchhashem

Tue, Sep 18 2007, 3:57 pm

if I were you, I would write a letter, and send it return receipt requested, so they cant say they never received it. and usually, anything that comes in,has to be reported, cant be disregarded and pushed aside. also, a letter you can cc to the bbb and whoever else may be able to help you. jmho

TammyTammy

Tue, Sep 18 2007, 4:14 pm

boruchhashem wrote:

I second this. Document everything, including your phone calls.

Tammy