Reply
Valued Contributor
smc733
Posts: 1,262
Registered: ‎05-13-2010

Best Buy Gold RewardsZone MasterCard, prequalified.

Hi once again everyone,

 

As you probably know, I'm being overly paranoid about getting a third card to build my credit.  I have an open third slot for a credit card in my wallet that is begging to be filled.  

 

According to the site, I've been pre-qualified for the card listed in the title.  I shop at BB a LOT (engineering student).  I was denied this card in February, only because I didn't know crap about credit then and I applied for a $1400 laptop (which I just bought with my debit card anyway).  

 

So should I go for this?  They pulled Equifax for me last time, and I only have 3 inquiries on my equifax

 

1.  HSBC/Bestbuy - Last time I applied (2/10)

2.  Citicards (2/10)

3.  Citicards (5/10)

 

Thanks.

Established Contributor
ifinet
Posts: 552
Registered: ‎03-17-2010

Re: Best Buy Gold RewardsZone MasterCard, prequalified.

Are you really sure you have done your research on this card? chances are you're gonna regret this decision. Mine is stuck at $100 :-(

Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Best Buy Gold RewardsZone MasterCard, prequalified.

Good choice since you shop there.   I would let the wallet keeping begging until September (past 6 months on denial)

Valued Contributor
ngerasimatos
Posts: 1,278
Registered: ‎06-01-2007

Re: Best Buy Gold RewardsZone MasterCard, prequalified.

Have your scores changed much since last application? 

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

700 Club
Regular Contributor
blacklotus
Posts: 235
Registered: ‎02-14-2010

Re: Best Buy Gold RewardsZone MasterCard, prequalified.

[ Edited ]

I have the "platinum" version BBRZMC. This is my only Department store card and I feel it was a good choice in me apping for this card- I feel that having at least one department/retail store card in addition to bank-issued cards help your credit mix.

 

My credit limit is $1000.  The issuer is HSBC- they are Canadian so I guess they don't like to extend credit to anyone in Canada or something...

 

I like this card- the biggest purchase I have made on it was for something like $45 in one month that I PIF.  I only use it for small items like DVD's and inexpensive electronics.

 

What I don't like is the APR- I don't understand how they expect me to buy something on installments at the high APR they have set on this card.  But I think Department and Retail store cards in general have high APR's.


TU Fico 736 EQ Fico 730 (December 2012)
Valued Contributor
smc733
Posts: 1,262
Registered: ‎05-13-2010

Re: Best Buy Gold RewardsZone MasterCard, prequalified.

 


Wolf3 wrote:

Good choice since you shop there.   I would let the wallet keeping begging until September (past 6 months on denial)


 

Thanks everyone for your help on the input.  And Wolf3, I've noticed you've given me sound advice in all of the threads I've posted.  Let me ask you this, is the AF for a charge card that doesn't help util on the credit report worth it?

 

The more I'm thinking, I'm feeling a Discover Student Card might be a better "Alternative" network to go for in November, seeing as there's no AF (which I'll never match in rewards), and it will help build my CR even further than a non-credit Amex.  The Cash Back options on Discover are also much more attractive.

Frequent Contributor
jausanka
Posts: 483
Registered: ‎05-06-2009

Re: Best Buy Gold RewardsZone MasterCard, prequalified.


blacklotus wrote:

I have the "platinum" version BBRZMC. This is my only Department store card and I feel it was a good choice in me apping for this card- I feel that having at least one department/retail store card in addition to bank-issued cards help your credit mix.

 

My credit limit is $1000.  The issuer is HSBC- they are Canadian so I guess they don't like to extend credit to anyone in Canada or something...

 

I like this card- the biggest purchase I have made on it was for something like $45 in one month that I PIF.  I only use it for small items like DVD's and inexpensive electronics.

 

What I don't like is the APR- I don't understand how they expect me to buy something on installments at the high APR they have set on this card.  But I think Department and Retail store cards in general have high APR's.


Hi lotus,

If your card is the Mastercard issued by HSBC, it is a credit card, not a store card.  You can use it anywhere.  Store/department cards are issued solely for credit within a particular store or chain (i.e. the Best Buy non MC, a Macy's card, a Shell gas card, etc)

New Contributor
cascade159
Posts: 72
Registered: ‎11-20-2009

Re: Best Buy Gold RewardsZone MasterCard, prequalified.

I applied for the RewardsZone MC about two months ago and was approved for $500. My EQ at the time was around 660. It's great if you shop at BB and want to earn reward points.

EQ: 680, TU 665, EX 615 (FAKO)
Mega Contributor
Creditaddict
Posts: 16,883
Registered: ‎10-23-2007

Re: Best Buy Gold RewardsZone MasterCard, prequalified.

Sounds like you were declined for the Store card, which seems to be pretty prime, the Mastercard version is not very prime in my eyes unless you get platinum.

If you have been pre-approved Gold, chances are you are going to get it unless you still owe HSBC on a different account in bad standing.

If you can get Discover to give you a card, I would much rather them, but for building credit the Best Buy MC is a good option.

How about Capital One too?

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
New Contributor
O-day
Posts: 73
Registered: ‎08-09-2010

Re: Best Buy Gold RewardsZone MasterCard, prequalified.

just think it over, i kinda regret getting this card man. i am stuck at 300 and its been almost a year. plus theres a 59 AF but i got them to waive half of it.  they are really crappy, but i have to tell u i use it for gas it i did get 20 dollars worth of gift certificates. if u do get it PIF every month because you dont want that craxy apr


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+