Store signs you up for Unwanted Account protection plan

ComplaintsConsumer ElectronicsBEST BUY CREDIT / HSBC INSURANCE SERVICES

Complaint

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Phil
Country: United States
For anybody signing up for a Best buy credit card, BE AWARE you are also signing up for HABC's "Account protection plan". They charge you a certain amount per month and if you don’t notice it before 60 days you can’t get your money back. If this was something I wanted or was aware about, why would they only give me 60 days to cancel it?????

I bought an entertainment system before moving into my new home and signed up for the Best buy credit card because I was told I would have 3 years to pay off $3,200.00. After a busy summer of moving in, I came to notice on my 3rd statement just yesterday I was being charged for something called "Debt Cancellation". I called Best buys Customer service number, after arguing with 3 or 4 people that did not speak good English and were no help at ALL they referred me to "HSBC INSURANCE SERVICES" they told me that this was the company that was charging me for the UNWANTED service, Best buy then told me that this company could only be reached through the mail and they had no phone number I could call to talk to somebody...LIES!!

I found the number for this company online in a matter of about 30 seconds, I called this morning and these people were even less help, they claim I have to send them a letter in writing to cancel this SCAM of a service that I never wanted in the first place, Oh and also that I will not receive any refund for the $80 they charged me for some Bogus service to which I have no clue what its even for!!

I called the store and spoke to the Manager to inform him of my displeasure that I was not informed that by signing up for his company’s card I would be signing up for this account protection plan as well. Of course there is nothing he can do for me!!   Once again a company in America gets away with Theft!!

SCAM....SCAM....SCAM!!  DONT SHOP AT BEST BUY!!

Comments

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  • 0
    Sue
    Hi,
    I am so glad to hear that I am not the only one who is going through this BS.  I am ready to pull my hair out.  I had the same thing happen and my question is how do I get my money back?  They have cancelled the charges but sent me a photo copy BS sales slip with looks kind of like my sig, but I can't even read the page of fine print.  They told me to wite a letter to the dispute dept.  I will but other than swearing and screaming that this is fraudulent what can I say to get my money refunded.  I can not believe that people can do this and get away with it.
  • 0
    GoingtowarwithBBandHSBC
    Well it is NOV 2011 and i wanted to share what is going to become my experience with all. I feel like such a dummy to find out since 2009 HSBC has been taking money for "debt cancellation" which i did not agree to. I am about to engage in a small war and i will keep everyone posted (my plan): 1. I already contacted the indian rep's at 800-365-6256 (useless, sounded like she just got out of bed and could not speak english) (Best Buy you should be ashamed!!)Tommorrow is will be contacting: HSBC executive office 877-472-2005 (note the first person you may encounter will likely be a minion "filter" so stay strong and get someone on the line that can actually do something) (also take down names of who you talked to so if you get a crap response hang up and call back keep calling back until you get someone that can help you "social engineering")and calmly but persistently let them know i was unaware of this third part insurance and at no time wanted to take part and want the full amount refunded to my account. Additionally if that gains no traction i will remind them that HSBC also has a fiduciary responsibility toward you their customer, beyond disputing a simple arms-length third party merchant charge, since they are aware, or should have been aware, of the deceptive trade practices employed by their partners Best Buy and HSBC Insurance Services, hence they were a willing partner in that deception failing to meet their fiduciary duties to protect their customer, you, from fraud when they are aware of it. If this gains no traction and i receive no cancellationa and full refund via phone i will be sending a dispute via U.S. Mail sending a letter to HSBC Insurance Services
    200 Summerset Blvd, Bridgewater, NJ 08807, certified return receipt requested.  Under FCBA, if you send a dispute within 60 days of the statement date showing the disputed charge, they must investigate.  If they slipped this through without your authorization, and got past 60 days, your best bet is to go balistic and file complaints with BBB, your state AG, and FTC, noting on your dispute letter "CC:  BBB, <xxx> AG, FTC" so they know where you have complained.
    If all else fails i will start looking at legal actions an make HSBC executive office 877-472-2005 well aware of it. While doing some research on this matter i have run across some interesting things "not sure if there is any truth" that i would also like to pass on: 1. BB stores get a $90 kick back for every debt cancellation package activated. 2. The BB rep gets recognition and likely some type of compensation for all debt cancellations sold 3. The debt cancellation product from all of my reading has done nothing but been a debt creating product that has so much red tape even if you had knowingly opted for it it does little to protect you the consumer. In closing, if this does not get resolved with haste BB will never get another penny from me or my family. Additionally in any case this card along with a few other store cards i own are getting the "chop". One poster made a great point that i should heeded long ago "DO NOT" get store credit cards get bank credit cards. You may need to build your credit up a tad more but you have alot more protection from insanity like this.
  • 0
    GoingtowarwithBBandHSBC
    Well i called the exec # today and they pulled my account. They are telling me that i did sign a paper application that did enroll me in account shield AKA debt protection. I told them i want a copy showing that as i have zero recollection of this. In the mean time i wait to see what i get back. Also i will be calling the debt cancellation # back to get this rip off product off my account. Once i get the original document they claim i signed i will update everyone as far as what is next.
  • 0
    GoingtowarwithBBandHSBC
    Well it is 15 NOV and still no signed document in the mail from HSBC. I am calling the executive office back today. Also i did not receive anything stating they cancelled this b.s. account shield.
  • 0
    GoingtowarwithBBandHSBC
    So i called the exec. office back. Apparently in my case it takes a few days to get any correspondence sent out. I am sure i will get something probably next week. I did confirm that the bogus debt cancellation is turned off. During this call i voiced my frustration for being charged for a service i was unaware i had supposibly subscribed to "still waiting for the paperwork" and that i was extremely unhappy and had no plans to ever utilize HSBC for any future products and or Best Buy ever again. I believe the rep started to truly feel some of my frustration as a consumer who had been taken for about $400 on this account shield "debt cancellation". In the end the rep was able to do some crediting for this years charges so i got a little over one hundred back out of the four hundred. I am still very interested to see this original document that is floating through the mail; however, at the end of the day progress in being made toward this debt shield abortion.
  • 0
    GoingtowarwithBBandHSBC
    How exciting looks like even though the executive office cancelled the rogue account shield; the third party that is somehow tied to HSBC did not get the memo and i got charged again. Looks like we are back on the phone again today. This obviously tell me that HSBC has no control over these people what so ever. Nice to know!!
  • 0
    GoingtowarwithBBandHSBC
    Hmm well looks like the executive office is having just about as much luck getting ahold of the account shield people as i did (well then again when i called early on in the month i did get ahold of someone; just could not undertsand a word they were saying). Out of all of this i must say i believe the executive office liason has maintained herself professionally and likely done what was in her powers to resolve this issue as it is. I am confident this last string will be dealt with in just a little while; however, let this serve as one mans road map on this disasterous journey.
  • 0
    mikki
    does anyone know if you can cancel on line ??? wishful thinking:)
  • 0
    laserbeam
    I had Debt  Cancellation but it was called Account Shield Plus. I went unemployed, tried to take up the program... guess what - THEY DO NOT OFFER THE BENIFITS IF YOU ARE SELF EMPLOYED OR A SOLE PROPRIETOR! So now I am working on sending complaint to AG or DE, FTC and BBB. Pleasse let me know if any one else has seen this because the "Sales People" should QUALIFY a customer before selleing a product. I can not and did not receive and SERVICES. I close my Account Shield Plus in June 2011 and they still were charging me for the service--until today, when I recalled. Filling w/ AG of DE this week. ANY OTHER SELF EMPLOYED OUT THER? Let's go class action!
  • 0
    s_straley
    Wow, I too fell for this nonsense (totally unknowingly).  I never signed-up for this service.  When I originally signed-up for a Best Buy Card (2009) I was "in-store", and the cashier/rep offered the "no interest" deal many of you have noted within this thread.  No mention of "debt cancellation" automatically being added/included to your card/purchases.  Instead of using my regular CC, for a larger purchase (computer) I thought "why not... I'll take advantage of the no interest Best Buy Card".  Mistake!   Apparently, they authorized this debt cancellation service without even disclosing it to me, i.e. their customers!!  After spending the better part of an afternoon on the telephone, to India, they told me this fee and/or service was "authorized electronically".  I paid off the computer in basically 2-3 months (back in 2009), and recently used my Best Buy Card again, this year to buy a printer.  I never noticed the fee back in 2009 (yeah, my bad... I was hasty).  But this year, after paying off a recent printer within ONE billing cycle, entire balance, I was surprised to see a statement come in the mail stating I had a balance of $11+/- remaining.  Hence the post here, the phone calls to India, the 1-2 hours of my time, et.  Back in 2009 they charged me almost $90 (for 3mos+/-), and this year, after a purchase being paid-off immediately (within 1mos), after the first bill, I was charged $11.  I can't believe this scam.  Totally uncool, and really disappointing considering I've always appreciated Best Buy's Products & Geek Squad Service, et.  Secondly, it's not like I had a longstanding revolving credit line!  What a drag b/c the charges are significant.  Be careful what you "authorize" in store.  I've disputed both the recent, as well as the 2009, charges so we shall see what happens... I have a feeling I'm not going to get a penny, but lesson learned.  I suppose it was nice to see this thread in the sense I wasn't the only one who fell for this "debt cancellation" BS.

    Here's another phone # to cancel your Debt Cancellation service (I haven't seen it posted, so here is the # I used), (800) 365-6256

    Again, lesson learned.  Turns out I'm paying WAY more than "no interest", as I originally thought... should have used my regular CC and at least received some FF miles.  :(
  • 0
    Reggie
    Given the circumstances, It's at least refreshing to know that I'm not alone in this mess.  I have also fallen victim to this Account Shield "scam".  I'm a VERY conscientious shopper with excellent credit, so I would NEVER sign up for this type of service.  I just paid off the item that I purchased but noticed an additional fee of almost $400.  I called the Best Buy/HSBC Card Services line (that was absolutely NO help at all) and I was told it was for the Account Shield service that I signed up for.  I immediately asked them to send me a copy of my application as proof that I signed up for it and was told I would get it in 7-10 calendar days....it's been 2 weeks and I have yet to receive anything!!!  Frustrated with HSBC, I called Best Buy to see if they would be more help.  Unfortunately, this produced the single WORST customer service experience I've ever had!  The Best Buy phone rep told me that BB has nothing to do with this situation and that it's between me and HSBC (which is not really true, considering that it was an in-store BB employee who originally signed me up for the credit card).  I expressed my frustration to the BB phone rep over how I think BB should take some ownership in this, especially since my monthly statement has "Best Buy" printed all over it.  I also told her how much money I spend in the store annually, but she responded "I don't care if you spend 50 cents in the store, you need to talk to HSBC about this".  I was floored to say the least!  As far as I'm concerned, Best Buy and HSBC are both in bed together on this scam.  From this day on, neither of them will get another dime of my hard-earned money!
  • 0
    Ccena1@gmail.com
    Wow, I am a part of this BS sbout the Credit Shield protection.  Im calling today and thanks for the feedback
  • 0
    Steven S
    They are telling me that my "debt cancelation" has acrewed 411 dollars over the past odd amount of years AND they are trying to charge me interest AFTER I canceled the service on that amount....I am almost certain that is not legal. I will be trying the executive number that the user Tammy posted to see if this is even the case. I have been lied to by HSBC SOOO MANY TIMES it is not even funny. To name a few...An agent said that I was done on a promotional charge I had done and that the interest charge was refunded. I learned today that; that is not the truth. One person said that I am being charged for a charge I did not finish during the promotional period (389 original purchase) and then I called back after I was hung up on by this "lady" and the next person had said that that was actually not the case. He was saying that the interest of 8 dollars a month was being charged from me canceling my debt cancelation and not paying the balance that it acrewed (of 411 dollars) and should be now taxed for it. I am not a lawyer and obviously not a english teacher as I am sure many of you can tell by my terrible spelling but I am almost certain that charging interest on money that was charged for a third party service is illegal. Also when I had told them that I never even set up this protection plan in the first place they told me yes I had and were very confrontational about this. They of course sent me a copy of my card agreement which I was TOLD by the BEST BUY employee to sign in two different places. THEY checked the box for this and I am penalized for it. I am only 22 and to say the least I have most certainly learned my lesson about shoping Best Buy. I will be contacting the BBB and I guess even the AG as the some of the other posters here have done.
  • 0
    Steven S
    I have another thought. They just started charging me interest on this after it was canceled if they planned to do this from day one should they not have been charging me from day one (the interest). I am really sickened by what companies in this world will do to get a few dollars out of a customer that helps their bottom line regardless.
  • 0
    StopStealingMyMoney
    What is the exact process to remove "Account Shield Plus" from my account? The number to call, the department to reach, the phone menu buttons to press etc etc. Anything like that would be excellent for everyone looking for this solution. Thanks.
  • 0
    Amber
    | 1 reply
    There is a class action lawsuit for this very claim. I received the email a short while ago.

    I was signed up for the service after opening a Best Buy credit card. But it actually came in handy after my car was burglarized. They sent me a check for the cost of the gps that was stolen. But they stopped charging me afterwards for the service. I guess their intent was to milk me or the money without having to actually pay me. Lol But yes it is a waste if you never use it and they should definitely inform te customer of the service and provide the option to opt in or not.
  • 0
    Janet S.
    Wow, some of these complaints are so similar to my own that I could have written them myself!  I also found out 10 mo's after the fact that Best Buy had signed me up for Account Shield Protection without my consent. As one of the previous posters mentioned, I too am very careful with my money, always pay my credit card bills off in full every month, etc., and would NEVER NEVER have signed up for some bull**t Account Shield Protection. I only signed up for the credit card out of the convenience of not having to pay the whole bill in one day, even though I had the money for it.  So it is infuriating to realize now that this disgusting company has stolen $500 from me at this point when I could easily have avoided the whole mess.  When I called to complain to HSBC, they told me they would need 45 to 60 days to conduct an "investigation" to see if I really had signed for this thing or not.  Obviously they're hoping I will forget about it.  I will try the number of the executive office to see if I have any luck getting a refund.  Best Buy and HSBC are the scum of the earth and yes, we should do a class action lawsuit!
  • 0
    Brian
    Check out the class action settlement at www.mysettlementclaims.com.  I'm getting my money back
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