I applied for a Best Buy store card in Dec 12. Rejected, but approved for the Capital One card with the $59 AF so I didn't complete. Received notice approval was good until Feb 12. Since then FICO increased .. so when I went shopping aat BB, they offered credit, thought I'd get rejected, but went through.. yep the Capital One $59 AF version. ARGH. PLUS 25.99% APR ... that's loan sharking in my opinion. So... I'm thinking pay in full what I charged that day and just close the account immediately.
Wondering how that will effect my FICO. Any thoughts?
Starting Score: 668
@jsucool76 wrote:
Score wise, you'll probably go down from the inq, and depending on the limit of the best buy card, higher util may make it drop.
Score dropped back in Dec. from original inquiry, so thinking it just stayed in effect, not pulled again. The CL is $2000, and if PIF don't see why there's be higher util. Please explain that further. I'm trying to figure out if it's worth keeping at all.
This is the AF version BBRZMC?
If there's an AF, keep it a yr since you've already taken a hit for the new INQ and TL.
Then
Call them before the next AF hits and ask them to waive it or they can close the acct.
Just want to make a correction regarding a comment on page 2 by WhiteColler. The Best Buy store card does have both a 2% and 4% back in rewards option.
I was approved 3 weeks ago for the Best Buy Store Card that is on Plan A (which means it is eligible for CLIs) with no AF. My limit is $2500. I just purchased a big ticket item that had 0% APR for 24 months if I chose standard financing. I had an option to choose 4% in rewards back, but then it would reduce my 0% APR period to 6 months or no 0% APR grace period...I can't remember exactly but I chose 2% rewards back so I had 0% APR for longer.
I was approved 3 weeks ago for the Best Buy Store Card that is on Plan A (which means it is eligible for CLIs) with no AF. My limit is $2500. I just purchased a big ticket item that had 0% APR for 24 months if I chose standard financing. I had an option to choose 4% in rewards back, but then it would reduce my 0% APR period to 6 months or no 0% APR grace period...I can't remember exactly but I chose 2% rewards back so I had 0% APR for longer.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! 
Last App: 4/5/13 Gardening until July 2014
That sounds like a good plan. Thanks.
And, I have not read of anyone getting approved for the platinum MC, it has always been gold if they were approved for the MC and it came with an AF. Anything with an AF is lower in quality in my mind. So I think the BB store card with no AF is more prestigious than the gold BB MC.
@MovingForward_2012 wrote:
..I can't remember exactly but I chose 2% rewards back so I had 0% APR for longer.
I'm not sure I have this straight.. but I am under the impression that if you take advantage of the 0% for 6,12, 18 (whatever) months at BB they still show your balance on your CR, thereby affecting your UTIL. I opt for the 4% standard and PIF.
Yes it affects your UTIL but I'm not worried about it as I just bought a house, leased a car, and got approved for two more cards so I'm gardening. I won't stretch out the payments to 24 months but I'm not PIFing either as once I do, I'm obligated to charge something else to keep it open in 6 months and I won't need anything from BB in the next 6 months. I PIF all my other cards monthly.