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Towser44
Posts: 67
Registered: ‎06-07-2007
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Re: Chase issue Best Buy Credit Card ?

They would buy them and turn them into BestBuy cards and expand their market share. Im sure best buy would love it. 
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YoungEntrepeneur
Posts: 586
Registered: ‎03-03-2009
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Re: Chase issue Best Buy Credit Card ?

Circuit City doesn't have any market value now.
New Contributor
Towser44
Posts: 67
Registered: ‎06-07-2007
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Re: Chase issue Best Buy Credit Card ?

But walmart and target and other department stores are eating into Best Buys market share in electronics. Giving people who used to shop at CC a BB credit card is the best way to keep them from wandering!
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sofocused978
Posts: 6
Registered: ‎08-31-2008
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Re: Chase issue Best Buy Credit Card ?

I just recieved this letter in the mail in the US and just put a call into chase to discuss the letter. First of all I hold a Circuit City store branded card(not visa) aswell as a HSBC Best Buy store branded card. Supposedly what Chase is doing is just turning your Circuit City stored branded card into a Best Buy store branded card without a rewards program.

 

I tried to explain to the CSR that I already have a Best Buy card and what sense would it make for me to hold 2 of them. I asked if she could upgrade my Circuit City store brand card into a Chase Visa and was denied. Asked to speak to managment up the ladder and was also denied. 

 

Has anyone on this forum had their store branded Circuit City card(not visa) upgraded to a chase visa account?

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YoungEntrepeneur
Posts: 586
Registered: ‎03-03-2009
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Re: Chase issue Best Buy Credit Card ?

They can't gain customers by tossing them a Best Buy card. Best Buy has to offer competitve pricing with its competition and/or more perks to win more customers. It's not going to come from credit cards,that's for sure.
Valued Member
rj2311
Posts: 38
Registered: ‎05-11-2008
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Re: Chase issue Best Buy Credit Card ?

I was a CC store card holder (since 05/08) and last week they sent me a flyer (see below for some of the wording). Did anybody else receive this?  The flyer can be redeemed for a BB gift card based on the amount of purchase.

 

 

 

WITH OUR COMPLIMENTS

 

Special offer from Best Buy

Exclusively for Chase cardmembers

 

Dear Customer:

 

As a valued Chase cardholder, and in light of Circuit City's announcement to go out of business, Chase has teamed up with Best Buy to bring you an exclusive offer to help meet your consumer electronics needs.

 

 

 

Valued Contributor
mjbfan79
Posts: 1,998
Registered: ‎03-31-2008
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Re: Chase issue Best Buy Credit Card ?


Towser44 wrote:
It sounds like HSBC bought some of the Circuit City cards from Chase. 

Yeah i think that's whats gonna happen.


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PurpleHaze
Posts: 717
Registered: ‎03-05-2008
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Re: Chase issue Best Buy Credit Card ?

I found this link from a newpaper article (http://www.timesdispatch.com/rtd/business/banking/bankruptcies/article/CIRCGAT01_20090401-090005/246...)

 

Circuit City customers wooed by Best Buy

 

Published: April 1, 2009

 

Best Buy Co., the biggest consumer-electronics retailer, offered its private-label credit card to former customers of Henrico County, Va.-based Circuit City Inc. Circuit City credit-card holders will automatically receive Best Buy cards through Chase Bank USA, Bloomberg News reported this morning.

 

Notification of the change was sent to cardholders March 26, Sue Busch, a Best Buy spokeswoman, told Bloomberg. Chase also handled Circuit City's credit-card transactions.

 

Circuit City was the second-largest U.S. electronics retailer before it began liquidation sales at its 567 U.S. stores this year. Those sales ended last month and the chain closed its U.S. stores.

 

Jim Muehlbauer, Best Buy's CFO, said last month that a dramatic opportunity to boost his company's sales from Circuit City's exit will help revenue this year.

 

-- Bloomberg News


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Susyquk
Posts: 504
Registered: ‎03-27-2009
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Re: Chase issue Best Buy Credit Card ?


sofocused978 wrote:

 

Has anyone on this forum had their store branded Circuit City card(not visa) upgraded to a chase visa account?


Yup, DH had a Circuit City store card which he got an email from Chase about last week saying that he was, from May 1st, going to be issued a replacement card which would be a Chase Visa card with the same limit and that is available to use at any ad all stores.  In addition we asked if I could be added as an AU to that new account and was told within 24 hours that this would be fine and that my card would arrive on approx May 1st (and that yes, they do report AUs to all the Credit Reporting agencies)

Established Contributor
Posts: 513
Registered: ‎04-03-2007
0

Re: Chase issue Best Buy Credit Card ?


Susyquk wrote:

Yup, DH had a Circuit City store card which he got an email from Chase about last week saying that he was, from May 1st, going to be issued a replacement card which would be a Chase Visa card with the same limit and that is available to use at any ad all stores.  In addition we asked if I could be added as an AU to that new account and was told within 24 hours that this would be fine and that my card would arrive on approx May 1st (and that yes, they do report AUs to all the Credit Reporting agencies)


A "replacement card" would suggest that you will have your original tradeline opening date report to the bureaus. I also would insist that Chase does not pull a hard since you didn't apply for credit. I definitely would complain if your replacement card is a card with a recent date of opening.

 

Have you asked the CSR about the credit reporting details?



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