Silly HSBC and Principal Payments
I recently made a principal payment of $200 towards my car, after making a payment of $247 earlier this month for the regular monthly payment. Since I don’t trust any corporate companies, I called up just now to make sure they actually applied it to the principal, since it appears they applied it towards my future May payment.
Alas, they did not do as I asked, so the gentleman I spoke with said he would make a notation to have the amount reapplied to my principal amount.
It’s annoying because I specifically called and spoke with a representative last week named Germaine and asked for the specific principal payment location. I learned that because Capital One used to tell me that the principal payments had to be made to a different address or couldn’t be counted, despite my desire to have it switched over.
And I will probably call next week to verify that the gentleman I spoke with tonight actually did have the amount reapplied, since they can’t follow simple instructions. I imagine this will be a regular thing for a while.
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One Response to “Silly HSBC and Principal Payments”
April 23rd, 2008 at 7:38 pm
I had the same problem, but with my bank. They have a thing when you make an online payment where you write check if this is a regular payment or a payment on the principal and even though I checked principal, it didn’t get applied as such. VERY annoying!