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Contributor
Posts: 120
Registered: ‎01-03-2008
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Best Buy Store vs. Gold Mastercard

I applied for the Best Buy store card today and was declined, but offered a Gold Mastercard with a $59 AF.  It doesn't specify a credit limit (which I think is odd).  What do you think I should do in this situation?  Does anyone have any experience regarding these two cards?

Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Best Buy Store vs. Gold Mastercard

Best Buy only lists 2 cards on their website. (Both by HSBC)   

 

Store Card

Rewards Zone MC

 

Is yours different?

Contributor
Posts: 120
Registered: ‎01-03-2008
0

Re: Best Buy Store vs. Gold Mastercard

Hi,

 

 

It's the HSBC Mastercard.  It didn't specify a credit limit.  I suppose that will make or break my decision.  There's no sense in paying $59 for a $100 limit (if they offer that).

Valued Contributor
Posts: 1,284
Registered: ‎05-13-2010
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Re: Best Buy Store vs. Gold Mastercard

IIRC, the Bestbuy HSBC Mastercard is the "Gold MasterCard".  Personally, I don't think the $59 AF is worth it.

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Established Contributor
Posts: 616
Registered: ‎01-04-2009
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Re: Best Buy Store vs. Gold Mastercard

[ Edited ]

So...for Best Buy how it works is if you apply for the Store card and are denied (it has the best financing options...0% interest deals, etc.) you will be offered the mastercard instead.  The mastercard has two different tiers:  the platinum (better interest rate and no annual fee) and the gold (which has a pretty bad interest rate, and an AF of 0-75).  I applied for the mastercard a year ago and got a card with a $39 fee, then just re-applied recently for a new card and they approved me for the gold with $0 fee....but HSBC doesn't typically budge on the fee except to maybe halve it if you threaten to close the card.

 

If you check application status on the HSBC website it should list your starting credit limit.

 

https://www.hsbcapply.com/status/rewardzonemastercard

 

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    $17.3K          $500              $7K              $15K              $5K             $2300          $3200          $2000          $1500          $1000           $8100

Garden Since: 9.25.2013
Contributor
Posts: 120
Registered: ‎01-03-2008
0

Re: Best Buy Store vs. Gold Mastercard

Weird.  I visited that link and it can't find the status of my account.  Go figure!  lol

Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: Best Buy Store vs. Gold Mastercard

Definitely find out the limit and look at rewards program to see if it is worth the fee.

Valued Member
Posts: 48
Registered: ‎12-22-2009
0

Re: Best Buy Store vs. Gold Mastercard

I just apped the same card with the same result- and I took it. I got a $500 Cl.


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Contributor
Posts: 120
Registered: ‎01-03-2008
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Re: Best Buy Store vs. Gold Mastercard

$300 CL

 

 

I think I'm going to pass on this one.  I just got off the phone with Barclay for the Airtran Visa and they told me that if I paid some of my balances down, I would probably be approved.  

New Contributor
Posts: 55
Registered: ‎11-08-2009
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Re: Best Buy Store vs. Gold Mastercard

I got the same 300 limit when i was rebuilding my credit. I got my scores to over 700+ with no baddies and 1 30 day late that was 6 years old and they still wouldnt up my CL. They waived the fee, i kept the card for a few more months but never used it and then finally closed it. 

 

If you dont need the card to rebuild then dont get, its not worth it. 


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