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New Member
Posts: 2
Registered: ‎02-17-2014
0

Best Buy Credit Account

Good Afternoon Everyone,

 

First time poster, who is rebuilding his credit. I had a question and figured you guys would be able to help out. I orginially opened an best buy account to help someone finance some things. Long story short, i got pinned w/ the expenses after the account went deliquent. I was able to speak w/ a collection agency and settle for an amount. Now the thing is, i actually wanted to open one for myself this time around. I've got 3 CCs ranging from $750-1500 limits and wanted to apply for the Best buy credit as a 4th positive account. I can pay the TV cash, but wanted to take the oppurtunity of the best buy finance specials which would give me 12 months wihtout interest. My question is, Will i be able to open a new one  with having a previous BB deliquent CC closed & settled? i'm guessing no, but worth a shot. My score is in the 640s atm and rising slowly. 

 

Thanks in advance for the help. 

Valued Contributor
Posts: 1,255
Registered: ‎10-07-2013
0

Re: Best Buy Credit Account

You have little to lose, besides a HP, so why not go ahead and apply?

 

On the bright side, the BBY cards were either HSBC or Chase, and now the portfolio is serviced by Citibank, so they may not have brought over the history.

 

I was going to garden... Honest!
Senior Contributor
Posts: 4,011
Registered: ‎10-02-2012
0

Re: Best Buy Credit Account

Im paying off my dads best buy CC(bought a BROTHER printer currently at 18 monthS 0% APR will be paif off this week) and then it will be closed! Already wasted TWO HP and still nothing its been at $1200 since 2008 and nothing has changed. 

Banking with Citi, Chapter 7 Bankruptcy Discharged on --/--/--
Current Credit Scores EX FICO 483, EQ FICO 481, TU FICO 449
No credit card or loan of any sort. (Awaiting Discharge)
Senior Contributor
Posts: 4,011
Registered: ‎10-02-2012
0

Re: Best Buy Credit Account

Good luck on your app everyones experience is different

Banking with Citi, Chapter 7 Bankruptcy Discharged on --/--/--
Current Credit Scores EX FICO 483, EQ FICO 481, TU FICO 449
No credit card or loan of any sort. (Awaiting Discharge)
Epic Contributor
Posts: 28,162
Registered: ‎10-23-2007
0

Re: Best Buy Credit Account


SpartanX wrote:

Good Afternoon Everyone,

 

First time poster, who is rebuilding his credit. I had a question and figured you guys would be able to help out. I orginially opened an best buy account to help someone finance some things. Long story short, i got pinned w/ the expenses after the account went deliquent. I was able to speak w/ a collection agency and settle for an amount. Now the thing is, i actually wanted to open one for myself this time around. I've got 3 CCs ranging from $750-1500 limits and wanted to apply for the Best buy credit as a 4th positive account. I can pay the TV cash, but wanted to take the oppurtunity of the best buy finance specials which would give me 12 months wihtout interest. My question is, Will i be able to open a new one  with having a previous BB deliquent CC closed & settled? i'm guessing no, but worth a shot. My score is in the 640s atm and rising slowly. 

 

Thanks in advance for the help. 


Current scores?

current other credit?

how old is the settlement?

is that only baddie?

My Gardening 04/29/2016 All 3 Reports on Lockdown
Partner Joined Garden 04/11/2016
New Member
Posts: 2
Registered: ‎02-17-2014
0

Re: Best Buy Credit Account

[ Edited ]

My current scores are 635-655. It was an account back from 2007 and finally was settled early 2013. No it's not the only negative. i had 3-4 more accounts which were all settled early 2013. 

 

All my current CCs are paid on time and the utilization is under 20% on each one. what do you guys think? i was actually thinking either to do best buy or apply for the barclays CC w/ average Credit.

 

My Current CCs

Capital one Quicksilver

Capital one Platinum (newer, 17.99% apr w/ 6 months of zero %)

Credit One 

 

My goal is to stop using cash for everything, as easy as it is and start to use my credit for responsible purchases. increase my limits as much as possible for rainy days or bigger purchases down the road. 

 

Advice?

Valued Contributor
Posts: 1,255
Registered: ‎10-07-2013
0

Re: Best Buy Credit Account


SpartanX wrote:

My current scores are 635-655. It was an account back from 2007 and finally was settled early 2013. No it's not the only negative. i had 3-4 more accounts which were all settled early 2013. 

 

All my current CCs are paid on time and the utilization is under 20% on each one. what do you guys think? i was actually thinking either to do best buy or apply for the barclays CC w/ average Credit.

 

My Current CCs

Capital one Quicksilver

Capital one Platinum (newer, 17.99% apr w/ 6 months of zero %)

Credit One 

 

My goal is to stop using cash for everything, as easy as it is and start to use my credit for responsible purchases. increase my limits as much as possible for rainy days or bigger purchases down the road. 

 

Advice?


If the settlements are on the credit report, I would imagine that could be construed as very negative...  but if your Date Of First Delinquency (DOFD) on these is approaching the seven years, or less if your state requires, then your report may be clean.
Have you checked your credit report(s) to see what's actually on them? Usually you can get a report from each bureau once a year for free. If you apply and are declined, you get to see it, and if you find items to dispute, then you can do so.

Some web sites like Credit Karma post details about the report, so you can see your FAKO score as well as which accounts are negative. Credit Sesame and Quizzle offer similar offers with a free offering. MyFico has some offerings as well.

 

If you don't need the line of credit specifically, being that Citi Retail Services still requires HPs for CLIs, I'd wait until the credit profile is better and start off with better terms.

I was going to garden... Honest!
Regular Contributor
Posts: 218
Registered: ‎03-02-2013
0

Re: Best Buy Credit Account


CreditUnionFan wrote:

You have little to lose, besides a HP, so why not go ahead and apply?

 

On the bright side, the BBY cards were either HSBC or Chase, and now the portfolio is serviced by Citibank, so they may not have brought over the history.

 


I opened mine in August and it was through Capital One... after 2 months it switched to Citi.

Established Contributor
Posts: 988
Registered: ‎08-08-2013
0

Re: Best Buy Credit Account

My 2 cents...

 

Skip the Best Buy card.  Depending on the TV your looking at I doubt they will give you the starting CL you need to cover it.  Mine was stuck at 500 CL for over a year (my FICO is approaching 700) I ended up closing it a monht ago...useless card.  Barclay is a decent card I have both the rewards MasterCard as well as the Apple Visa.  You may get lucky and get the "good" Best Buy card but its hard to say.  Good luck with what ever way you decide to go. 

Regular Contributor
Posts: 218
Registered: ‎03-02-2013
0

Re: Best Buy Credit Account

[ Edited ]

EndlessRoad wrote:

My 2 cents...

 

Skip the Best Buy card.  Depending on the TV your looking at I doubt they will give you the starting CL you need to cover it.  Mine was stuck at 500 CL for over a year (my FICO is approaching 700) I ended up closing it a monht ago...useless card.  Barclay is a decent card I have both the rewards MasterCard as well as the Apple Visa.  You may get lucky and get the "good" Best Buy card but its hard to say.  Good luck with what ever way you decide to go. 


 

My sig lists my accounts in the order I opened them... BB in August when I financed my MB Air @ 0%... (ended up getting the Barclay Apple card and financing my iPhone 5s @ 0% a month later)

 

It was shocking to get an $1800 limit but it worked for me... I also put a new TV @ 0% on the card as well.

 

No real complaints... the BB card started with Cap One and transitioned to Citi a couple months later.  My scores were as you see them... 650ish range.  I've been paying down the balance consistently and am hoping for great things in the future like an upgrade to a MC if that's even possible.

 

At any rate,  solid card for electronics freaks who like BB 0% deals and don't want to tie up their major CC for the purchase... Smiley Happy

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