Best Buy store card CLI

[Anonymous]

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@ngerasimatos wrote:

If your credit is good, and you have been diligent with HSBC and using your overall credit lines I would request to speak to a manager about migrating your card to a TIER I card.

I was in a similar situation with Chase when I had a Circuity City card and wanted to buy a new TV but my limit was $2k and the TV was much more. I called and requested a CLI and was told "sorry, you're at the limit for your card. however we can do a hard pull and if you're approved we can combine the two accounts." 

Without hesitation I agreed and took the INQ but was approved for a $5k card, they then combined the two and I got my new TV. 

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Thanks for the info.  I don't think it's worth the INQ for me right now.  I don't really need a new computer, but I was going to take the leap into the world of Apple if I could get it at 18 months no interest...

[Anonymous]

Are you guys talking about the Best Buy store card through HSBC or the Best Buy Mastercard? I ask because I have the former since last September ($2,100 limit) and have been paying 10 times the monthly minimum to pay it off quickly without needing to dip into savings. It will be paid in the next 3-4 months (my purchase was on 0% 18mo terms).

Do they do a hard pull for CLI requests or is it soft? I need to try that if it is soft.

[ngerasimatos]

I was referring to the HSBC Mastercard

[Anonymous]

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@Anonymous wrote:

Are you guys talking about the Best Buy store card through HSBC or the Best Buy Mastercard? I ask because I have the former since last September ($2,100 limit) and have been paying 10 times the monthly minimum to pay it off quickly without needing to dip into savings. It will be paid in the next 3-4 months (my purchase was on 0% 18mo terms).

Do they do a hard pull for CLI requests or is it soft? I need to try that if it is soft.

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I was talking about the Best Buy STORE CARD. I have both the store card and the mastercard.  I'm good with the mastercard, I have a $4000 limit on that.  My problem is with the store card's small $800 limit.  The mastercard doesn't allow you to get the special financing deals. 

Since my store card is at the $800 limit for Tier B, when I hit the LUV button they don't even check my credit. The letter that came in the mail said no credit report was used in their decision.  So, I'm not sure if the CLI would be hard or soft. 

[Anonymous]

what is tier A and tier B?

[Anonymous]

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@Anonymous wrote:

what is tier A and tier B?

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Actually I learned that it is Plan A and Plan B.  Basically, when you apply for the store card, they place you in one or the other based on your creditworthiness.  Plan A has better interest rate and higher credit limits than Plan B. 

As an update to my earlier issue of having a Plan B HSBC issued Best Buy card with a max limit of $800:

I called HSBC today and was transferred to the credit department when I asked the CSR what I needed to do to move to Plan A so that I could get a larger limit.  Credit department told me that I would have to apply for a new card and that I could do it online but he strongly suggested I apply in-store. 

So off to Best Buy I went.  I picked out the computer I wanted ($1700), and I went up to customer service to apply.  I am happy to report that I was instantly approved for $3600 on a new store card issued by Chase!  That's interesting to me in two ways: 1) I got the first card back in October of 2009, so about 8 months ago, and 2) I didn't think Chase would approve me because I have a charge-off with them that I settled for less than I owed with a collection agency back in 2008 (before I discovered this board). 

So do you guys think I should cancel the original HSBC-issued Best Buy card or leave it open?