Letter to Best Buy regarding their credit partner HSBC

This is my attempt at a web page similar to that found at www.untied.com. My letter to Best Buy is below:

Your 24 months "same as cash" is not as you advertise. I purchased some items in June of 2008 on 24 month "same as cash" payment plan. Upon receiving my first statement, I set up my electronic banking to automatically send in 1/24th of the total purchase starting on the due date in the statement and monthly thereafter for 24 months. I figured that I wouldn't need to address this again after setting up the string of automatic monthly payments.

HSBC, your credit provider, changed terms on the agreement and have charged me late fees for 2 consecutive months as the due date for the payments had been changed by 2 days. Each late fee that HSBC charged was equal to 81% of the payment amount that I was making in regular monthly payments.

HSBC was unwilling to credit my account with the late fees in total and as a result I will no longer shop at Best Buy. I will purchase at Costco and Sears from this day forward. In addition, I will tell all of my friends and family to avoid Best Buy as well. I will also never use HSBC for any financial need in the future.

This year, I plan to purchase a new laptop for my college going daughter, a new large screen LCD TV but those purchases will be made at stores other than Best Buy. In addition, I have purchased $50 Best Buy gift cards for each of my daughters as stocking stuffers each Christmas for the last 10 years. This activity will cease.

I know that this happened because I did not pay attention to the change in terms on the credit agreement. HSBC had the ability to wave the fees but was unwilling to do so even though for the first 10 payments, I was paid ahead on this account by more that the fees that they wish to collect.

I have also turned back on paper statements to assure that HSBC and / or Best Buy will incur the $5-$7 per month cost to print and mail my bill for the next year.

I am also starting a weblog at http://worsebuy.blogspot.com where I can share my story and allow others to share their dissatisfaction with Best Buy and HSBC.