05-12-2011 08:28 AM
2 weeks ago I bought a laptop from the Bestbuy store and they told me I was preapproved for their card so I was stupid enough to apply. I was denied. I called the backdoor number today after I received the letter and they told me I was denied because of "Verfication reasons". BestBuy was supposed to have me call them right away to verify some information but they didn't so I was denied. They told me that now I will have to apply again for the card. What's even worse is that the best buy employee lied to me and told me it was going to be a soft inquiry which was not true of course.
Now I am furious because I was denied for a stupid reason and got a hard inquiry because of it. What should I do? Can I dispute the inquiry on my EQ credit report since I wasn't told about it?
05-12-2011 08:53 AM
I'm not sure what options you have, but this reaffirms that Best Buy and HSBC both SUCK!
I'd just consider it a lesson learned not to deal with subprime HSBC.
05-12-2011 09:12 AM
Nothing left to do but climb up the corporate ladder and keep complaining until someone does something about it.
But honestly though, a Best Buy employee would be the last person on Earth I would trust in regards to questions about credit terminology such as soft pulls.
05-12-2011 12:30 PM
I had the same thing happen at Younkers with HSBC. I was instantly denied at the register. 2 weeks, I never got a letter of denial in the mail, so I called and was told they denied me because they couldn't verify my identity.
I asked if there was anyway around that, and they asked me some questions and was able to overturn the denial and approve me for $1000.
Maybe try calling again because it can be done.
05-12-2011 12:55 PM
When that happens with a company, and it has to me also, I never deal with that company again. There are too many good places out there to deal with.
05-12-2011 01:04 PM - edited 05-12-2011 01:05 PM
With most companies, you can turn Blue explaining the one of thiers told you it would be a soft inq. Fact is they will come back and say sorry you got the wrong information.
A lot of companies now don't give customers the benefit of the doubt.
I had the same thing happen to my Kay account. My account was closed when I had a $3000 CL with 0 balance. I never even knew it was closed
When I went bakc the manager said we can reopen it. I made sure it was a soft and he said yes you already had an account so it will be a soft. WRONG, it got a hard pull. Called Kay customer Service, went to see the manager
Answer from Manager at store: I don't remember telling you it would be a soft inq (1 week ago????????), call customer service maybe they can help you (in a **bleep** you way).. The urge to inflict pain to the manager at that time was very strong
Answer from Customer service: You must have misheard, but we are sorry for the inconvenience but it was a legit inq
05-12-2011 11:34 PM
this happened to me as well with my RZMC. never got any clear direction as what to do to slove the problem after that. had to re apply using a second pull sigh
needless to say i got approved the second time without any issues. i of course knew what to do this time. it was that my DL didn't match the current addres that i entered initally.
i must say though, my limit is 1500; 21.75 apr, free financing for 6 months with 250 or more, 0% af, 4% on best buy purchases, 2% everywhere else to apply for future best buy purchases. NOT BAD.
05-13-2011 05:17 AM
A lot of stores give some sort of credit, or have a quota percentage, for how many people the employees should sign up for their store card. It's on a store or individual level.
I would try to escalate it and see if there's any way you can reopen the application and verify the info they need.
Lastly, the store employee didn't necessarily lie. He/she might not have known better or really believed otherwise. I always assume it's a hard pull even when told otherwise. If it ends up being a soft, I'm pleasantly surprised.
Does anyone know if BB has a backdoor #?
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