First Statement from HSBC and im a little WEARY!

[Schoolbuskid]

I received my first statement today and i have read the full statement, but there was one part i didnt quite understand and read as follows:

"if you wish to consider marked "paid in full" , "without recourse", or similar language, such payment must be marked for special handling and sent to HSBC Retail Credit(USA) Inc. PO Box 4169 Carol Stream, IL 60197. You agree that we may accept any such payment, late payments, partial payments, and payment marked "paid in full", "without recourse", or otherwise restrictively endorsed without waving our right to payment in full of you entire balance."

What exactly is this saying, they are not trying to set me up for anything are they? 

Thanks!

[Anonymous]

They are saying-

A restrictive endorsement is invalid and not a binding contract.

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@Schoolbuskid wrote:

I received my first statement today and i have read the full statement, but there was one part i didnt quite understand and read as follows:

"if you wish to consider marked "paid in full" , "without recourse", or similar language, such payment must be marked for special handling and sent to HSBC Retail Credit(USA) Inc. PO Box 4169 Carol Stream, IL 60197. You agree that we may accept any such payment, late payments, partial payments, and payment marked "paid in full", "without recourse", or otherwise restrictively endorsed without waving our right to payment in full of you entire balance."

What exactly is this saying, they are not trying to set me up for anything are they?

Thanks!

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[Schoolbuskid]

What is a restrictive endorsement?  Do you know?

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@Anonymous wrote:
They are saying-

A restrictive endorsement is invalid and not a binding contract.

---

@Schoolbuskid wrote:

I received my first statement today and i have read the full statement, but there was one part i didnt quite understand and read as follows:

"if you wish to consider marked "paid in full" , "without recourse", or similar language, such payment must be marked for special handling and sent to HSBC Retail Credit(USA) Inc. PO Box 4169 Carol Stream, IL 60197. You agree that we may accept any such payment, late payments, partial payments, and payment marked "paid in full", "without recourse", or otherwise restrictively endorsed without waving our right to payment in full of you entire balance."

What exactly is this saying, they are not trying to set me up for anything are they?

Thanks!

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[Anonymous]

Restrictive endorsement
An endorsement signature on a check that specifies the conditions under which the check can be transferred or paid out.

[Anonymous]

I believe they are saying you're free to write "paid in full" on your payment, but in reality the account may not be "paid in full," in their opinion, and just because they cash your check does not mean they agree that it is "paid in full." (I clicked on this old message because I also have an HSBC CC and was curious)

[cobra19]

sbk............they are saying we will take your money now, but we might still come after you in the future for any balance due.