What To Do When You Can’t Pay Your Best Buy Bill
Best Buy operates over 1,150 stores around the world and is the largest electronics retail store, both online and in-store. Best Buy’s subsidiaries include the Geek Squad, Magnolia Audio Video, CinemaNow, and Pacific Sales. Best Buy offers their own Reward Zone Credit Card which consumers can use both in-store and online. Here are some of the perks the Best Buy card offers:
- No interest for 6 months on all purchases totaling $299
Required minimum payment is great of $10 or 1% of balance, plus bill interest charges, plus any late fees. Interest will be charged to your account from the purchase date if plan balance is not paid in full within 6 months.
- No interest for 18 months on all purchases totaling $429 and up
Interest will be charge to your account from the purchase date if the purchase balance in not paid in full within 18 months or if you make a late payment.
- Reward Zone members earn bonus points
On select purchases you earn 1 point for every $1 spent online or in-store, as well as one additional point on qualifying standard revolve purchases (regular financing) made using the card.
How To Pay The Bill
Best Buy offers three ways to pay your Reward Zone credit card:
You can pay a Best Buy bill online by using Best Buy’s online bill pay center here:
Pay By Mail:
HSBC accepts checks for electronic funds transfer (EFT) only, and money orders. You can mail them to:
HSBC Retail Services
P.O. Box 15521
Wilmington, DE 19850-5521
Pay By Phone:
You may call customer service at (800) 365-0292. Please note there is a fee for this option that will be disclosed at the time of payment.
Questions About Your Billing Statement or Account?
The Terms and Conditions page details the fees associated with a Best Buy credit account, including late fees, over credit limit fees and returned payment fees. The phone number for Best Buy credit customer service is 1-800-395-2120.
How The Penalty Fees Work
Best Buy credit is issued by HSBC Bank Nevada, N.A. The Best Buy Reward Zone Credit Card has an APR of of 25.24$ for Plan A cards, and an APR of 27.99$ of Plan B cards.
The card penalties are as follows:
- Late Payment Fee: $25 for first time, $35 thereafter
- Returned Payment Fee: $25
- Reissued Card Fee: $5
I Can’t Make A Payment
HSBC offers a payment plan for customers who are six months or more delinquent on their credit card account. HSBC first begins an aggressive calling campaign after the original late payment to try to encourage you to be on time with your payments. If after six months you still are behind in payments, HSBC will do the following:
- Close all of your HSBC credit card accounts
- Consolidate the balances owed
- Top off your outstanding balance with a 6% interest fee
- Discuss payment ability and payback timeframe
- Require documentation
There were mixed forum reviews on HSBC card services. It appears many people have been on their payment plan and have been treated fairly and politely, while others claim that HSBC did not hold up their end of the agreement.
Will They Work With Me To Pay My Bill?
If you have experience with working with HSBC and your Best Buy Reward Zone Credit Card to pay off credit card debt, we would like to hear from you! Please share your experiences and help other consumers get out of Best Buy credit card debt!