Review: HSBC BestBuy RewardZone MasterCard

My recommendation: DON’T GET ONE OF THESE.

I have one. I have one mainly because I went through a bankruptcy a few years back, and this is the only “normal card” (one without a ton of fees) that would take me. My credit score is good now, it is just the bankruptcy on my record that screws me for getting credit. So, in attempting to re-establish my credit, I am willing to accept deals from jerks like these guys. Unless you’re in my situation, you should find a better card.

Anyhow…here’s my review of their services and two recent stories about my experience with them.

HSBC Best Buy RewardZone MasterCard

Out of 5 possible stars (1 being “suck” and 5 being “awesome”)

Rewards Program: ****
Customer Service: **
Terms and Conditions: *

My pay day from my office and my due date of my bill fell on the same day, and because my bank account was empty, I was waiting for that paycheck to clear my account before paying my bill. I put a $29 rush on the payment when I paid it, because it claimed on the RewardZone site that if I did so, the funds would be cleared and available the same day. I planned to purchase a new bike on that day, and wanted to use the card so I could pay for it out of the next paycheck rather than this one.

I paid the full balance of my account ($404) on the 15th by rush payment.

The funds were NOT available the next day, so I called the RewardZone customer service. They told me that the funds would be available on the 16th. I didn’t even bother. I just paid for the bike out of my bank account, leaving me with a minimal balance. I figured the RewardZone money would clear the next day, and if I needed to buy stuff I could use the card until I could put money in the bank on my next paycheck.

Yesterday, the 20th, I tried to use my card to pay for a dinner date. It was declined, much to my surprise…and embarrassment. This morning, I logged in to my account to check the balance and make sure everything was okay. There was a $403 charge there I’d never made on the 17th. So I called customer service again.

The customer service guy told me, “that’s not a charge, that’s a hold on the money you deposited.”

I responded, “I paid a $29 fee so that the money would be available the same day, as it said on your web site.”

He told me, “In the terms and conditions of your account, it says we can put a random hold on your funds at any time for any reason.”

I said, “Random hold? What does that mean? How can you take a $29 fee to clear funds on the same day and then NOT clear the funds? That’s criminal! You guys are lying cheats! Why are you holding my money? I’ve been a good customer.”

Then the truth comes out….

He replies, “Because you paid the full amount on the due date, we placed a hold on the account.”


There it is folks. They screwed me on my account because they couldn’t make interest off me this month. That’s the bottom line right there.

I am not afraid to say that by the above measure, the operators of this card are scum sucking scam artists who belong behind bars.

DO NOT GET THIS CARD (unless maybe you’re like me, and your only alternative is some card with a $150 start up fee and $50 annual fee and only $300 credit)

Tell your friends. Copy everyone on this. This card sucks, and I want EVERYONE on the Internet to know it.

All this said…if there is some credit card company out there with good terms, who would like to receive a glowing review and recommendation from me, contact me so I can apply. Had RewardZone fulfilled on that, they’d be getting a rave here, rather than a rant. I promote things I like, but I’m just as happy to bring the hammer down on liars and cheats as I am to promote something I like and get good use out of.

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Rating: 6.3/10 (3 votes cast)
Review: HSBC BestBuy RewardZone MasterCard, 6.3 out of 10 based on 3 ratings

9 Responses to “Review: HSBC BestBuy RewardZone MasterCard”

Read below or add a comment...

  1. jose says:

    status is pissed never ever get a best buy master card it is the biggest piece of crap you could ever get. talk about dying before the payment clears the account. I mean the payment was made on the 7th from my bank account and didnt hit the card till the 19th i mean for real did the money get drunk and and have a few cigarettes before it went to the card. they are bull*$#&. not even the worst part but not only do the payments take a while but so does the transactions take a while to hit that account.

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  2. Cheryl says:

    We have the same problem. My husband is on the road and relies on his credit cards. We had gotten the HSBC BestBuy RewardZone MasterCard” as an emergency back-up. I pay the credit card bills EVERY week and I always pay them in full so I don’t have to pay the interest and to keep our cards readily available. None of the other companies that we have cards do this. Actually one did, but I called in and told them that the payment cleared and they released the hold.

    All our credit card payments clear the next day.

    14 day holds are RIDICULOUS in today’s technology!!! My payments clear the next day and they hold my money like a terrorist. I have called and that was USELESS!!! EFT’s clear within 48 hours so how do YOU justify holding a payment for 14 days??? So is that 14 day hold for the rest of the life of my account????????????????????????

    Five years ago I could see that, but in 2011??? Get real. I have filed a complaint with Credit Financial Protection Services, as well as posted my complaint with many other sites.

    Anyway, I asked if I could use the same excuse??? You know, “I made my payment , but I have place a 14 day hold before you can have it? I need to make sure that the company it’s being released to is actually HSBC Bank Nevada N.A.” Will that fly with you guys???

    They indicate regret about the inconvenience, but that is complete BS.

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    • e.b. sarver says:

      Yeah, they still delay me, though not by 14 days any longer. Now it takes about 3-5 days for them to clear payments on my account. You’re correct, though. All my other online transactions process instantly, even the ones I make between the USA and foreign nations. This card is a scam!

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  3. sara says:

    not only do they put that ridiculous hold on payments, but the customer service division is amazingly unorganized. I sent an email asking what steps I would have to take if I decided to close the account in a few months. In response I got a notice that my account had been closed and to please destroy the card…I called and spoke to a manager who apologized for the error, told me my account would be available again in 48-72 hours, and to please let him know if I had any problems. My account was active in the promised 48 hours, BUT the very next day I got a second email saying that my request to close the card had been granted and to please destroy my card AGAIN. How is it possible that they firstly couldn’t understand or respond to my initial question and secondly that more than one person could screw up my account in one week. I’m terribly unimpressed and advise everyone I know to steer clear of this card. It is definitely the worst experience I’ve ever had with a company of any kind!

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  4. MissNicole says:

    I recently got married and when I called to update them on my name change, they froze my account until I could prove I was me. They asked for DL, SS Card, a bill in my name, my marriage certificate. I sent it all although I found it ridiculous. Today I got a letter asking for a bank statement before my card would be re-activated. It’s been two months of back and forth just so I can change my last name. Effing BS.

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  5. Anthony Rogers says:

    I’ve been using this card for 3 years. The customer support is fine. It does take a few days for each payment to clear. It’s the only card with an annual fee that I have. I call each year to ask for the $39 annual fee to be waived. They review my activity and usually waive the fee. Apparently, HSBC isn’t doing so well this year, and they declined to waive the fee. I asked them to close the account and send me a final statement. They said they would do so and remove the annual fee. There are so many good rewards cards without annual fees. Don’t bother with this one.

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  6. Rain says:

    It’s not about even holding the customer’s money.
    As we understand, credit is a form of debt. This is something that we owe from the company. We use company’s funds. It’s their right to hold theirs.
    I really don’t know if people can understand this.
    You know?It’s payment.
    And for some technology, not so impressive.

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  7. Steph says:

    I had the exact same problem! I just cancelled my account and then procceded to call BB and tell them what bad representation they have. I had made my payment, it had cleared my account and I called in hopes that I could get the balance to reflect that payment in less than several days as they told me. Basically it was “sorry, see ya”. I had my phone damaged beyond repair and was in a desperate situation to get a replacement. I have never encountered any company that refuses to help their customers at all, that are more willing to let them go than to help them out and retain business. One of the worst cards with the worst customer service. I am so aggravated now that I refuse to give Best Buy any more business (even though I do realize it was HSBC being jerks).

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  8. mike says:

    Pay close attention to your statements even a day late will raise your intereste rate to above 29.939% THIS IS A RIPOFF CARD….

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