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Member
nissana
Posts: 7
Registered: ‎09-06-2012

Best Buy Reward Zone Mastercard

[ Edited ]

I just got the dreaded RZ mastercard.  I know its the card you get when you get denied for the store card.  What I didn't know was it immediately comes with the $59 AF already owed.  I want to cancel this card immediately.  Will it hurt my score?

 

I have been working on my credit started with Ex - 567, Eq 585 and TU 595, Currently at 619, 656, and 690.  Previously all I have had was $300 Orchard bank card since Oct 2011.

 

I went on a app spree last week 10/31/12 and got NFL Reward $500 NAF, Lowes $1500 NAF, Home Depot $500 NAF, Walmart $1000 NAF,  Dillards AMEX $700.  Denied Discover Miles want to do a recon not sure with my scores if it will help.

 

My goal is to buy a house in the next 6 months and a car a year from now if possible.  Not sure if the Spree or Cancelling the best buy card will do major damage.

 

Update - Just got the AF reduced to $29.50 - i'll keep if for a year to see what happens.


Starting Score: 567, 585, 595
Current Score: 619, 648, 690
Goal Score: 8\750


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Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: Best Buy Reward Zone Mastercard

Cancel it asap! I got it once and canceled it in store! Never reported and the inq fell off!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: Best Buy Reward Zone Mastercard

Congrats on the new cards btw!!!!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
Repo-ed
Posts: 2,953
Registered: ‎02-09-2012

Re: Best Buy Reward Zone Mastercard

AND STOP APP'ing! if you want a house, you need to A) stop app'ing B) better keep that util% in check

Member
nissana
Posts: 7
Registered: ‎09-06-2012

Re: Best Buy Reward Zone Mastercard

Utilization is only at 7%, plan to keep it under 15% at all times.

 

Thanks for the help,  But should I cancel this card it's only 300CL will it hurt my util all that much?


Starting Score: 567, 585, 595
Current Score: 619, 648, 690
Goal Score: 8\750


Take the FICO Fitness Challenge
Valued Contributor
mxp114
Posts: 1,356
Registered: ‎09-01-2011

Re: Best Buy Reward Zone Mastercard

Did you get the card in the mail yet? I would keep it but if you close it, your INQ and tradeline won't be deleted. The only thing is you will get the $59 refunded. Why did you apply for the card ion the first place? if you want the 0% financing, your RZMC also has it.

Member
nissana
Posts: 7
Registered: ‎09-06-2012

Re: Best Buy Reward Zone Mastercard

I didn't specifically apply for it, it was alternative when you get denied for the store card.  Had I known it came pre-loaded with the fee, I would have declined it.  I also figured I already took the hit and may as well get something for the hit, but not the AF.


Starting Score: 567, 585, 595
Current Score: 619, 648, 690
Goal Score: 8\750


Take the FICO Fitness Challenge
Valued Contributor
mxp114
Posts: 1,356
Registered: ‎09-01-2011

Re: Best Buy Reward Zone Mastercard


nissana wrote:

I didn't specifically apply for it, it was alternative when you get denied for the store card.  Had I known it came pre-loaded with the fee, I would have declined it.  I also figured I already took the hit and may as well get something for the hit, but not the AF.


There's no way to specifically apply for the store card, the process first considers you for the RZMC Platinum then the store then Gold RZMC. It explains it under the terms and condition of the application for credit. You could see if they are willing to waive the fee or reduce it by calling but $59 isn't so bad especially if your purchase will be offset by the 0%.


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