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HSBC 滙豐 Hong Kong and Shanghai Banking Corporation : Credit Cards (S1&2)

soy_ricosoy_rico PExer
edited August 2019 in Banking and Finance
Hi to all,

Naiinis lang ako sa HSBC :grrr:

Anyway, ask ko lang kung ano ba ang magandang gawin.

Lets say, i had a bill of 1500 which was due on July 2. I paid the amount on July 3. Now I receive the bill saying I still owe them 500 pesos interest :grrr:.

I know I was late in paying the bill for just one day, but is there a way to not to pay the interest / late charges of 500 pesos? :depressed:

Can I just have the card cancelled?

Masakit sa bulsa!!! :mecry:
«134567475

Comments

  • ganon tlga yon. mas malala nga yung akin kasi nag cash advance ako ng 4 pm unintentionally kasi yung magbabayad ng utang sa kin hindi pa dumadating. nag decide na ko na umuwi kaya nag CA ako snce wala ko money that time. kung kelan ako nakapg CA saka nagtxt at padating na daw sya. dba kaka siyet! so ending past 6pm nagpunta ko sa hsbc para ibalik yung na CA ko. pero sa statement ko the following month. nakarefelct na yung 100+ na interest. o diba aliw... yun at una at huling CA ko.
  • metropolitanmetropolitan PEx Influencer ⭐⭐⭐
    soy_rico wrote: »
    Hi to all,

    Naiinis lang ako sa HSBC :grrr:

    Anyway, ask ko lang kung ano ba ang magandang gawin.

    Lets say, i had a bill of 1500 which was due on July 2. I paid the amount on July 3. Now I receive the bill saying I still owe them 500 pesos interest :grrr:.

    I know I was late in paying the bill for just one day, but is there a way to not to pay the interest / late charges of 500 pesos? :depressed:

    Can I just have the card cancelled?

    Masakit sa bulsa!!! :mecry:

    You can cancel the card but you would still pay the charges of HSBC.

    Here is what you have signed up for (from HSBC's terms and conditions):

    Late Charge
    A Late Charge of 7.5% of the Minimum Amount Due or P500, whichever is higher, will be charged on your next billing statement for failure to pay at least the Minimum Amount Due on or before Payment Due Date. (emphasis mine)

    Finance Charge Computation
    If you pay the Closing Balance/Total Amount Due in full on or before Payment Due Date and have no cash advance transactions, no finance charge shall be imposed. However, if you pay any amount less than the Closing Balance/Total Amount Due or make a cash advance transaction, you will be considered a borrower. In such cases, finance charge at the prevailing interest rate indicated hereunder is applied using the average daily balance method on your Opening Balance/Previous Balance and all new transactions posted (including any fixed monthly installment amount/s) within the statement period computed from the posting dates of the transactions until the end of the current statement period. Monthly finance charge on cash advance transactions are computed from transaction date until the amount is fully paid.

    Certainly you should have read the part above when you applied for your credit card, when the written terms and conditions arrived with your credit card and the same info repeatedly printed at the back of your monthly statements. You have signed a contract and you are bound by that contract to pay the charge because you missed the due date.

    Have you tried to talk to HSBC and ask them a favor to waive the late fee? Some banks can grant that on a case-to-case basis.
  • business_guybusiness_guy PEx Veteran ⭐⭐
    metropolian is right. No offense meant, no matter whatever reason you have, but the thing is, you still paid your bill late. One day delay man yan, July 2 is different to July 3. All you have to do right now is to call HSBC hotline and ask a favor na i-waive yung late fee. Usually pag good credit standing ka naman, and ngayon lang nangyari, there's a chance that a waiver of paying finance charge will be granted to you....
  • soy_rico: I am sorry to say but that is how a credit card works and that is how cc companies make profit. Late charges and interest. :D
    Next time, always have a reminder (e.g. in your cellphone) to pay cc balances on time. *okay*

    metropolitan: I think you should keep that document somewhere in your laptop to keep reminding everyone of the terms and conditions of a credit card. :lol:
  • Yan ang hirap sa ilan. Ang daming galit sa credit card companies (lalo na sa CitiBank) kasi ma-delay "lang" daw ng bayad, ang dami nang "hidden charges", hina-harass ng call center agent, etc etc.

    Some of us just have to understand that there's a price that needs to be paid for being irresponsible. (Ouch!)
  • that why I canceled citibank because their are very tight in due date their is no consideration, considering that I am a member for almost 10 years
  • And also to remind everyone credit cards are not for the IRRESPONSIBLE. Irresponsible people have no business using credit cards nor borrow money altogether.
  • buti na lang i always pay my total amount due a week or days before the due date. lalo na when you use bpi express online, 3 (?) banking days to reflect with hsbc cc. tapos diba kapag 4pm onward sa hsbc machines, next banking day na ang bilang ng hsbc.
    kelangan talaga may allowance para sa ganyan.
    pero baka nga puede naman pakiusapan? sa boyfriend ko sa bpi credit card niya pinagbibigyan naman kapag 1 day late. spiel niya, may inutusan siya magbayad tapos hindi naman nakaabot. :D
  • sorry to hear about what happened to you. share ko lng personal experience ko.

    i once paid my HSBC card a day late din, peor thankfully, wala namang finance charge or late fee na na-incur. baka may kinalaman na tumawag kasi ako sa call center nila nung due date mismo. ang nangyari kasi, nawala ko yung billing kaya tumawag ako para itanong due date. sabi nung agent, today na pala. e 5pm na yun, so next day ako nagbayad.

    in my case, thankful ako na walang extra charge pero i was expecting na meron. =)

    suggestion lng po, try niyo kausapin over the phone yung agents nila and plead your case. most probably kung ok ang credit history with them, i-waive nila yun. ako nga, napa-waive ko yung annual fee ko using the same method. =)
  • wireheadwirehead PEx Rookie ⭐
    ^naka-autodebit ako sa hsbc card ko pero eto din ang ginagawa ko sa citibank card ko pag nale-late dumating minsan yung statement. tawag ako agad the moment na mareceive ko yung statement tapos sasabihin ko magbabayad na ako now na pero sana i-reverse na lang nila yung charges kasi di ko naman kasalanan na late dumating yung statement e. lagi naman silang pumapayag.

    may time na di ko lang napansin na andun na pala yung statement ko sa mesa ko ng ilang araw na (gulo kasi ng desk ko e :lol:) pero nagamit ko pa rin syang palusot.
  • freelancer517freelancer517 PEx Influencer ⭐⭐⭐
    why not just enroll in electronic statements so you could get your statements on time? :hmm: sa HSBC, pag nag-cut off ka today, the next day pwede mo na makita statement mo online.

    no more reason for you to blame them na late nadeliver ng courier yung statement or whatsoever. besides, if you have been using the card for quite a while, siguro naman kabisado mo na billing cycle mo (cut off and due dates). you can ask them your cut off and due date for the next three months.
  • I used to work for the bank's credit and collection department. ganyang-ganyan ang mga sinasabi ng mga clients :)

    hindi ko alam kung nagbago na sila ng policy, pero the previous posts are correct. a payment made a day after or 10 days after is still late. alam ko masakit ito sa bulsa, considering the value of our money nowadays, pero responsibility din ito ng cardholder. shempre ito ang business ng bank, hindi naman ito kawang-gawa on its part. of course, they have to earn something.

    best way is to take note of your due dates and keep track of your purchases. in that way, you have an idea on how much to pay come the due date. pag nakabayad ka on time, at late ang billing statement, at least you can put the blame on the bank.

    another common reason ay yung late ang billing statement. i can't comment on this kasi my statement has never been late for 6 years now. hindi ko alam kung bakit ito nangyayari sa ibang clients. what we advised our clients then was to call the customer service or enroll in phonebanking. ngayon nga meron ng e-statement, which is more convenient to some. shempre ang sasabihin ng iba ay inconvenient ito. para sa akin, kung ganito talaga ang case at talagang hindi masolusyunan ang problem, e di ipa-cancel na lang ang credit card. anyway there are lots of banks offering the same service. kesa makipagbuno lagi sa mga customer service agents at collectors :)
  • OT: pano ko pala malalaman kung approved ako sa HSBC, yung mga kasamahan ko kasi declined sila pero sabay-sabay kami nag pass ng requirements, yung sa akin daw tatawag after 3 days nang CI, tsaka ako lang pala yung na-CI sa amin, sila declined agad...
  • lj560 wrote: »
    OT: pano ko pala malalaman kung approved ako sa HSBC, yung mga kasamahan ko kasi declined sila pero sabay-sabay kami nag pass ng requirements, yung sa akin daw tatawag after 3 days nang CI, tsaka ako lang pala yung na-CI sa amin, sila declined agad...

    You wouldn't know. They don't send a letter saying you were declined, like in CitiBank and BanKard. Although processing usually takes just 2 to 3 weeks. So if you didn't receive a card from them in a month, you should assume that you were declined.
  • Hi! =)

    Newbie lang po ako sa paggamit ng credit card.

    I applied for a card (Mabuhay Miles) in HSBC around 3 weeks ago through an agent. When I passed my requirements to him (that was a Friday) he forwarded my application agad the following Monday. After two weeks, he texted me and said that my application got approved which made me happy because I'll be needing the card for future use.

    The sad thing is that until now eh hindi pa dumarating yung card ko. I mean, I called up their hotline na and the agent verified my application and she confirmed that I was approved pero onting hintay lang kc within 2 to 3 weeks daw yung waiting period to receive the card itself. I already received the initial papers regarding the card (the phone banking number etc.).

    If ever meron man working dito for HSBC, 2 weeks na po ako naghihintay for my card to be delivered. Ganun po ba talaga yun? Wala lang, I just never thought na matagal din pala yung waiting period. Bakit po ganun? Hindi po sabay-sabay yung pag-deliver ng documents?

    And bakit po pala depende sa store yung 3, 6, 12 zero interest for purchases? And how does it really work?

    Thanks po kung sino man yung makakasagot sa questions ko. =)
  • Naku ganyan talaga magaling maningil hehehhe
  • JeffreyKoJeffreyKo PEx Veteran ⭐⭐
    Hi guys, sino naka-experience ng issue on Annual Fee waiver sa HSBC? I have just requested my Annual Fee to be waived and they required me to spend 5K in the next 30 days para mareverse yung fee.

    BTW, I have a Mabuhay Miles VISA and am a Powervantage accountholder for 1 year. I just found it weird as the representative kept on telling me how they have been so lenient in the past but now process has changed.

    Has anyone experienced the same?
  • @JeffreyKo: i just opened up a PowerVantage account as well to get the HSBC secured creditcard. My relationship manager told me the same. Spend at least 5k on your CC to have your annual fees waived.
  • Depends on how big was your spending the previous year; if ever that is the case, just tell them that you will have your credit card terminated...

    If you are a valuable client to HSBC, they will agree to waive your annual fee without the clause to spend at least Php 5,000 in the next x amount of months.

    ___
    all about enjoying big adventures on small budget @ My Misadventures...
  • froshie1froshie1 PEx Influencer ⭐⭐⭐
    JeffreyKo wrote: »
    Hi guys, sino naka-experience ng issue on Annual Fee waiver sa HSBC? I have just requested my Annual Fee to be waived and they required me to spend 5K in the next 30 days para mareverse yung fee.

    BTW, I have a Mabuhay Miles VISA and am a Powervantage accountholder for 1 year. I just found it weird as the representative kept on telling me how they have been so lenient in the past but now process has changed.

    Has anyone experienced the same?

    Since 2006 ganun na sila sa akin. Sometimes 3k, 2k. Last year it was 4k.

    Ok na sa akin yan kaysa sa sa kaartehan ng citibank. di lang naging maarte sa akin ang citibank last year. walang annual fee sa statement ko lolol.
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