yeah I'm gonna go with 3) aaaaaaannnd I'm gonna say that's pretty lame. That really is a bummer, $48 annual fee, just got the card two months ago... sucks that they're pissing this many people off
grneydangl wrote:I'm disgusted as well... let me make sure I understand this, this is on my new statement for this month:Previous Balance: $216.17Payments & other credits: $216.17Finance charge: $16.00If my previous balance was $216.17 and I paid $216.17, that is PIF right? And there shouldn't be a finance charge right?Not necessarily. There are three ways you could PIF and still have finance charges.1) You did not PIF the month before, which meant that you had no grace period for that billing period, and the finance charges you are seeing are residual finance charges as a result of making purchases with no grace period.OR2) You did PIF in time for your payments to post to your statement, but you did not PIF by the payment due date. You will be assessed finance charges in this scenario.OR3) Due to the round number ($16), I'm inclined to think that this isn't a finance charge from interest, but is a fee of some sort. (Fees ARE a form of finance charges, as specified in the T&C.)
Thanks. My balance has been at $0 for about 2.5 months now so I guess I will twirl my thumb patiently to see what they will do. I did use the card the other day but I am going to pay that off either today or tomorrow.
sunnyday wrote:I have had a HSBC card since 2005 and what I have noticed with them is this:If you are using your credit card and you are close to you credit limit, they are very stingy with credit line increases, however, when you are maxed out and then you pay it down to less than 5% utilization, they will give you a nice increase. Every single time that I pay my card with them down and I do not use it at all for over 2 months, they increase my credit line to try and "entice" you to use it for a larger purchase. I hope this helps.