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Esteemed Contributor
Posts: 7,405
Registered: ‎03-10-2010

Re: HSN CREDIT CARD - BEWARE!


@Illinois8 wrote:

Not sure about this, please correct me if I'm wrong, but if you want to change the payment online how a FlexPay is billed, don't you have to change it every month?  I think if you originally billed the FP to the HSN card, switch it the next month to Discover, then the next FP would revert back to the HSN card, unless you manually change it again.  I think you have to monitor it for every FP.


@Illinois8- On HSN's site, under 'My Account' --

 

1. Change your default credit card under 'payment methods'.

2. Then go to the 'flex pay manager' screen and change the credit card indicated on each order to your new default card.

 

It takes a matter of minutes! Woman Happy I had a waitlist item and the website wouldn't allow me to change the credit card; I called customer service and had them do it on their end. With all this current lack of ethics, though- I might just cancel my waitlist.

Super Contributor
Posts: 456
Registered: ‎03-10-2010

Re: HSN CREDIT CARD - BEWARE!

[ Edited ]

Wow they are really going down the tubes.  The only flex plays I have going there are to Paypal so hopefully that doesn't generate interest.  I have an HSN card but can pay it off within a month or so so no big deal.  First their overnight programming turns into the same garbage they show on HSN 2 and now this.  Wow.  Maybe they should get rid of HSN2 if they are having financial issues and not play games like this.  They are not utilizing their second channel creatiively like QVC is.  And QVC still does 24 hour programming on the main channel.

Honored Contributor
Posts: 28,644
Registered: ‎05-22-2016

Re: HSN CREDIT CARD - BEWARE!

I don't get HSN2 with my DirecTV...maybe this is a good thing.

Esteemed Contributor
Posts: 7,405
Registered: ‎03-10-2010

Re: HSN CREDIT CARD - BEWARE!

[ Edited ]

@WenGirl42 wrote:

@Ibby114 wrote:

@WenGirl42 wrote:

If I think about this from the financial institution's POV, it does make sense (I still think it's unethical and crazy though).  If HSN didn't offer flex pays, and someone wanted to make lower monthly payments on their item, they'd have to charge the full amount and pay it off in installments, accruing interest along the way*.  From the consumer's standpoint, the benefit of flex pay is that they can avoid the interest charge, but if HSN or HSN's affiliated bank is the one extending the credit, it makes total sense that they'd still want this interest (flex pays likely make up a large portion of their purchases, and most people are probably only using their HSN cards to purchase things at HSN).  So I suppose the solution is for the customer to only do flex pays on some other card...in which case why have HSN's card at all? 

 

*Even in this scenario, though, the interest charges go down every month, as they are only computed on the remaining balance and not the initial balance (...unless that's changed).  This new scenario is like how mortgage interest is charged...from the initial amount of the loan at the beginning.  So I guess it makes sense that paying extra towards the "principal" would decrease the interest charged?

 

I bet there are states where they are not legally permitted to do this.  That's likely why some people are not seeing the charges.

 


There are all kinds of deals you can sign up for with b&m's - even on the shopping channels.  Pay this/that off in 18 mos, for example,  to avoid interest. But interest is actually accruing behind the scenes and if you go even 1 day past the alloted timeframe you get hit with all those interest charges. But here- this is different. You're not even billed yet for those flex pays - but they're charging you the  interest anyway!. This is beyond unethical.


Yes...but while you haven't been billed for those flex pays yet, you *have* been billed for the full item (since HSN's bank is the one extending the "credit" that allows you to pay monthly).  They've basically amortized the "loan" for the item just like with a car loan/mortgage.  I agree it's unethical, and it completely defeats the purpose of both flex pay (from the consumer's vantage point) and using the HSN card.  If you're going to have to pay interest on the amount "borrowed" anyway, then use whatever card you want.

 

 


??? The only way a customer is  'billed' for the item in full is the total amount of the item comes off your availlable credit.

 

Using your logic with a car loan or mortgage- if I paid the statement balance [rather than the monthly payment]  on my auto loan or mortgage, I wouldn't  be charged further interest. I actually did that with my  car loan a couple years back. The interest rate was under 1% -- it was a 3 year loan, I tripled my payments each month - there were no additional pre payment interest charges or fees -  I paid the car off fast  and got a nice boost to my credit rating.

 

All I know is, when I advised Comenity that I've already placed a complaint with the FCC they were more than happy to reverse my finance charges.

Super Contributor
Posts: 446
Registered: ‎10-12-2014

Re: HSN CREDIT CARD - BEWARE!

Thank you @eddyandme for bringing this to our attention. This is also being talked about on HSN'S community. Many have canceled their cards including myself. I have a good credit score so I am not concerned if a closed account negatively effects my credit. I have one flex pay left so I changed payment to my Visa. Since I closed the account with Comenity, no reason to keep the card info in my HSN profile. Comenity claims this was brought about by HSN. HSN claims it's all Comenity. I don't know but it causes me to wonder about their marketing plan. Especially with their current financial situation. I think they cut their nose off to spite their face. 

Esteemed Contributor
Posts: 7,405
Registered: ‎03-10-2010

Re: HSN CREDIT CARD - BEWARE!


@Starliteshine wrote:

Thank you @eddyandme for bringing this to our attention. This is also being talked about on HSN'S community. Many have canceled their cards including myself. I have a good credit score so I am not concerned if a closed account negatively effects my credit. I have one flex pay left so I changed payment to my Visa. Since I closed the account with Comenity, no reason to keep the card info in my HSN profile. Comenity claims this was brought about by HSN. HSN claims it's all Comenity. I don't know but it causes me to wonder about their marketing plan. Especially with their current financial situation. I think they cut their nose off to spite their face. 


Comenity represents the interests of HSN. No matter what HSN had said about this  - I am certain the HSN higher ups (at least)  are involved in the decision making process.

Respected Contributor
Posts: 2,329
Registered: ‎06-20-2010

Re: HSN CREDIT CARD - BEWARE!

I just called HSN again and they are supposed to have someone higher up in the company call me, BUT it could take 8 days!!!  The CS rep at HSN said she didn't know anything about this.  I told her lots of people are talking about it on the QVC forum and directed her to the forum on HSN's forum and they could read all about it. 

 

For those who were charged interest, after paying their balance due in full and on time, let HSN know .  I told them that if Comenity changed the FP policy and is adding interest to future unposted FlexPays, HSN hasn't made this clear on the air concerning FP and using the HSN card.  Even if Comenity is giving us incorrect information, HSN still needs to know about this. 

 

Highlighted
Esteemed Contributor
Posts: 7,405
Registered: ‎03-10-2010

Re: HSN CREDIT CARD - BEWARE!

[ Edited ]

@Illinois8 wrote:

I just called HSN again and they are supposed to have someone higher up in the company call me, BUT it could take 8 days!!!  The CS rep at HSN said she didn't know anything about this.  I told her lots of people are talking about it on the QVC forum and directed her to the forum on HSN's forum and they could read all about it. 

 

For those who were charged interest, after paying their balance due in full and on time, let HSN know .  I told them that if Comenity changed the FP policy and is adding interest to future unposted FlexPays, HSN hasn't made this clear on the air concerning FP and using the HSN card.  Even if Comenity is giving us incorrect information, HSN still needs to know about this. 

 


I feel for  customers who carry a balance and are accustomed to seeing some finance charges each month - how would they even suspect  there's an excess of finance charges?

 

 

Valued Contributor
Posts: 579
Registered: ‎03-16-2010

Re: HSN CREDIT CARD - BEWARE!

An HSN mod just acknowledged "recent changes with Comenty Capital Bank".

Good job to those who persisted.

Respected Contributor
Posts: 2,329
Registered: ‎06-20-2010

Re: HSN CREDIT CARD - BEWARE!


@Ibby114 wrote:

@Illinois8 wrote:

I just called HSN again and they are supposed to have someone higher up in the company call me, BUT it could take 8 days!!!  The CS rep at HSN said she didn't know anything about this.  I told her lots of people are talking about it on the QVC forum and directed her to the forum on HSN's forum and they could read all about it. 

 

For those who were charged interest, after paying their balance due in full and on time, let HSN know .  I told them that if Comenity changed the FP policy and is adding interest to future unposted FlexPays, HSN hasn't made this clear on the air concerning FP and using the HSN card.  Even if Comenity is giving us incorrect information, HSN still needs to know about this. 

 


I feel for  customers who carry a balance and are accustomed to seeing some finance charges each month - how would they even suspect  there's an excess of finance charges?

 

 


@Ibby114  -  I do too, they may be betting that some won't even notice, that it will just get paid.  How do they ever get out from under that?  I bet a lot of their customers, as well as QVC's, are on fixed incomes and they use the FlexPay for budgeting purposes, yet still pay their balances every month.  I don't believe this is a fair practice, interest free FlexPays have been the fiber of their business for I don't even know how long.  People are going to be upset.  I read (can't remember it it's on the HSN forum), but someone posted this information on the HSN and Comenity website.  Curious what the fallout is going to be.  Hope QVC and Synchrony doesn't start this!