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Contributor
praise123
Posts: 108
Registered: ‎06-24-2012

What's the deal with Best Buy?

They are offering 18 month no Interest. Think abtag the new IPad. Are they good to deal with.?

Valued Contributor
jamesdwi
Posts: 1,390
Registered: ‎09-16-2011

Re: What's the deal with Best Buy?

BestBuy store card is great, hard to get,  high credit lines, easy CLI's or it was before capone took over, don't know now. 

 

Bestbuy Reward MasterCard, Sub-prime low credit limit expect no CLI love from CapOne anytime soon high AF at $69 for a low limit. Probably not enough CL to benefit from the 18 months zero intrest. CapOne may waive it but who knows, its a rebuiler card use it if you need it, And close it when your AF hits. 

 

 


Wallet: FNBO DISC 11.9k Oregon Duck 5k, Chase CSP 10k, Freedom 3.3k & AMTRAK 4.6k & Slate 3.3k , AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Walmart 4.5k
Sockdrawer: Paypal Extras MC 6k, CapOne 2k, CapOne 750, Amazon 3.9k, Sams Club Discover 10k, Citi HHonors Gold 6k, Discover IT 6.5k and a nice stack of store cards.
Last APP 12/21//2013 no plans for new credit I think I have enough.
Frequent Contributor
LionLaw
Posts: 258
Registered: ‎06-10-2012

Re: What's the deal with Best Buy?

The Best Buy Reward Zone Mastercard is not a good card: low limits, a big AF, and high interest rates.  I don't know anything about the store card.

 

If you need a computer or a tablet, use your new Citi Diamond Preferred and its long 0% interest period.


Starting Score: 617 (EQ 6/10/12)
Current Score (8/28/13): EQ: 691 EX: 706 TU: 700
Goal Score: 700

Discover it $4,500 (02/2001); Amex PRG (Backdated to 01/2006); Amex ZYNC (Backdated to 07/2006); Wells Fargo Cash Back Visa $5,500 (12/2011); Citi Diamond Preferred MC $2,000 (07/2012); B of A Cash Rewards Visa Signature $5,000 (02/2013)

Established Contributor
jordanmedical
Posts: 1,011
Registered: ‎04-08-2012

Re: What's the deal with Best Buy?

Bad thing with BB is if you don't pay it off by end of period, thay charge back interest.

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
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Mega Contributor
Creditaddict
Posts: 16,869
Registered: ‎10-23-2007

Re: What's the deal with Best Buy?


jordanmedical wrote:

Bad thing with BB is if you don't pay it off by end of period, thay charge back interest.


That is not just a BB thing... Basically any 0% outside of a 12 month Citi Visa or something, store cards and such will always defer.

 

I would suggest you apply in store.

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Established Contributor
jordanmedical
Posts: 1,011
Registered: ‎04-08-2012

Re: What's the deal with Best Buy?

But not all cards do this, a lot of them will charge int starting from the day interest start without going back to the original transaction date. It's a good question to ask before you sign up for any 0% limited time offer.

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

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Frequent Contributor
Mike360
Posts: 433
Registered: ‎03-19-2010

Re: What's the deal with Best Buy?

[ Edited ]

If your score is good and you have no baddies and decent history you'll probably get the store card. if you get the mastercard version for so-so credit pppl's it's likely you'll get such a small limit you won't even be able to put a ipad on it.

 

if you do take advantage of the 0% offer make sure you pay it off or else you'll be charged for the interest from all the way back to the date of purchase. it's a good card if you know how to manage your credit and don't get sucked into not paying it off in time. i learned my lesson from sears years ago and yes most places that offer 0% for  X amount of months will charge you the full interest rate from purchase date if you don't pay it off in time.

~~In my wallet: Best Buy $7500, Dell Preferred $5500, Discover IT $4000, Chase Freedom $3500, Barclays NFL Extra Points $3300, Sears $2800, Bill Me Later $2100, CapOne Platinum $2000, Kohls $1500, Target $200
Valued Contributor
creditnocash
Posts: 2,164
Registered: ‎07-23-2012

Re: What's the deal with Best Buy?


praise123 wrote:

They are offering 18 month no Interest. Think abtag the new IPad. Are they good to deal with.?


Yes the deal is good. 

ive had my bb store card (not mastercard) for a little under 2 years. and have put 4 purchases ranging from 500 to 1200 dollars for the 18 month promo. 

ive become a rewards plat member because ive put on 2 laptops, 2 game consoles, and a few other misc purchases.

 

i recently let a promo expire and they did charge me the back taxes. about 70. dollars worth. 

as long as you make minimum ( im not suggesting this.) they will not charge interest on the purchase.

Current: EQ 735 Discover 9/5/13 Walmart TU 730 EX FICO 726 Amex Pull(1/1/13)

Starting total revolving credit: $2600 | Current total revolving credit: 31k+

Inquiries (24 Months): EQ 8 TU 5 EX 5 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Valued Contributor
creditnocash
Posts: 2,164
Registered: ‎07-23-2012

Re: What's the deal with Best Buy?


Mike360 wrote:

If your score is good and you have no baddies and decent history you'll probably get the store card. if you get the mastercard version for so-so credit pppl's it's likely you'll get such a small limit you won't even be able to put a ipad on it.

 

if you do take advantage of the 0% offer make sure you pay it off or else you'll be charged for the interest from all the way back to the date of purchase. it's a good card if you know how to manage your credit and don't get sucked into not paying it off in time. i learned my lesson from sears years ago and yes most places that offer 0% for  X amount of months will charge you the full interest rate from purchase date if you don't pay it off in time.


i find this odd. 

i have heard that the store card is harder to get but whats the logic? 

shouldn't they want you to use the store card for only their purchases. 

Current: EQ 735 Discover 9/5/13 Walmart TU 730 EX FICO 726 Amex Pull(1/1/13)

Starting total revolving credit: $2600 | Current total revolving credit: 31k+

Inquiries (24 Months): EQ 8 TU 5 EX 5 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000

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