This is my own experience and some of my friends had the same. If you have anyone with HSBC credit card My advice is just ask about the issue. This was happened in Sri Lanka.
Ok!! I will tell you the whole story and you have to decide to keep a so called “HSBC credit card” of go for something good one for good.
I thought of write this post to acknowledge you regarding the usage of HSBC credit card. Please think twice before you use that credit card as they charge their interest on Total Invoice value anyway (I mean even you re-pay 90% of your outstanding within the 51 days and before Invoice mentioned last date)
But other credit card companies charge their interest only for the balance amount deducting your payment.
Its like this
Opening balance - 47K
done payment - 46K
Interest was 1K (interest on opening balance)
total carry forward amt. - 2k
according to HSBC call center representatives the answer was as follows (I tried to meet one of their manager, but they didn't allow me to do so, even I went their premises I had to get this details only by over the phone. they don't allow you to meet any manager) "we informed you regarding the changes of this interest methods of HSBC and this is the current method of HSBC. This may changes time to time. at the moment we are charging on opening balance of the invoice, if you failed to pay the full amount even though within 51 days and before invoice mentioned last payment date"
So my friend decision UP TO YOU....!!!! You have to decide you still want to stay with the same card or save your money with someone else..
If anyone had the same experince share with me...coz I know most of the ppl who have HSBC credit card have this problem...!!!
