topic Re: Declined for Best Buy card in Credit Card Applications

Declined for Best Buy card

Bandit5160 — Tue, 04 Jul 2017 21:35:15 GMT

Hello. I simply can't understand why Best Buy turned me down for their Citi Best Buy Visa card. I wonder if it's because I don't have a steady job...instead, I am a nuclear power contractor and I travel across the country about six months a year for power plant outages. Including salary, tax free per diem, and unemployment insurance benefits from when I'm home, I make about 70-80K a year. So I have money- how I get it shouldn't matter so long as it's legal! And my most recent credit scores are 769 Exquifax, 771 Experian, and 800 TransUnion. I have low to no balances on my existing accounts and I ALWAYS pay ALL my bills on time! I think they are STUPID for turning me down! I was going to buy a new computer and printer from Best Buy, but not anymore. I fact, I will NEVER shop there again! Those Bozos!

Re: Declined for Best Buy card

Anonymous — Tue, 04 Jul 2017 22:41:48 GMT

How would they even know how you earn your money? Every card I've applied for has only asked for annual income.

Also, where are you getting your credit scores?

Re: Declined for Best Buy card

CreditInspired — Tue, 04 Jul 2017 23:21:14 GMT

Yep, it's something else. We need addl info in order to do our usual dissecting. 😂 How many CCs do you have? What's your UT like? Anything derogatory -- BK, baddies, collections, etc.? What's your AAOA?

Re: Declined for Best Buy card

peghede — Tue, 04 Jul 2017 23:37:36 GMT

Maybe they got scared when you put in application "nuclear" trying to purchase a pc and printer....hmm .lol

Re: Declined for Best Buy card

9CLINE — Tue, 04 Jul 2017 23:46:11 GMT

+1,, never seen them ask for positions on apps,just income,, are you using a real fico score? @ any rate take that letter they'll send and get that free report to see what's really there...
sounds like they saw something you don't know about...
Keep us posted please.....

Re: Declined for Best Buy card

Bandit5160 — Wed, 05 Jul 2017 01:19:09 GMT

I got my scores off the Credit Karma (Equifax and TransUnion) and the Experian apps on my IPad. Maybe it's my past that got me declined, because to be honest, I haven't always had great credit. My scores have gone up 150-200 points in the last two months because I have paid down a lot of debt. I was stupid when I was younger and I did have a bankruptcy about 15 years ago. But it's nbo longer on my credit report and would be impossible to find out about unless I told them, which I didn't. Bresides, its ancient history and I am not going to ever be in that kind of financial disarray again now that I am pretty much guaranteed fairly consistent work and income. And there are NO late payments or deragatory marks AT ALL on my credit report. I think it might be that I have already been approved for three other cards in 2017. I got a Cashwise Visa from my bank Wells Fargo and an Amazon Prime rewards Visa back in January and I was approved for a Discover IT card with a $11,500 credit limit right before I applied for the Best Buy card. But I also have cancelled some crummy cards I had back when my credit wasn't so good- cards with higher APRs and annual fees. I didn't want them in my life anymore because I am a totally new man now and they should recognize and respect that- I think I've done enough to prove it true. I am trying to replace those cards I closed. I have about 8 cards left now with a total credit line of about $25,000. Best buy could have given me a $1000 credit line! Their loss. I am no longer a customer. (Mod Cut-This kind of talk isnt kosher here on myFico, please refrain from it in the future)

Re: Declined for Best Buy card

Anonymous — Wed, 05 Jul 2017 00:08:54 GMT

Have you applied or been approved for any recent Citi cards? I believe the Best Buy card falls under their 8/65 rule.

Re: Declined for Best Buy card

Bandit5160 — Wed, 05 Jul 2017 00:10:48 GMT

I have not appled for any Citi cards except for that one.

Re: Declined for Best Buy card

Anonymous — Wed, 05 Jul 2017 00:11:13 GMT

Credit Karma scores are not real FICO scores, and I'm not sure the Experian app gives a true FICO either. I would check Discover Scorecard to see what your Experian FICO score is. Your Discover It will also give you your Transunion score.

I applied for a Citi card a while back during an app spree and was declined for too many recent inquiries. My score was upper 600s/low 700s at the time. So it may just be that and you can try again once your inquiries age a bit.

Re: Declined for Best Buy card

Bandit5160 — Wed, 05 Jul 2017 00:21:48 GMT

Discover scorecard says my FICO is 771. I think it was the three previous 2017 inquiries that did me in. I might realistically need to wait about a year before applying for more credit.

Re: Declined for Best Buy card

AverageJoesCredit — Wed, 05 Jul 2017 00:35:47 GMT

Op, Citi is notorious for not approving based on multiple inquiries in last 6 months. Youve done great rebuilding your credit. Dont take the rejection so personally, we all fall victim to a non approval we felt we were qualified for at some point.

Just a heads up, please be careful on certain things you post and their language its a quick way to get your post edited by a moderator. This is a family friendly zone lol, i understand your upset but we have to be a little more aware of how we post that disappointment.

Welcome to the forum by the way

Re: Declined for Best Buy card

AverageJoesCredit — Wed, 05 Jul 2017 00:36:45 GMT

Lockheart, what is the 8/65 rule you refer to?

Re: Declined for Best Buy card

peghede — Wed, 05 Jul 2017 00:40:50 GMT

With 771 fico you can do same serious damage,ps.best buy card is not all that , i have the visa i use it every 11 month for 5 bucks so they don't close it,that's all.i hate mine hope next jan to close it.

Re: Declined for Best Buy card

Anonymous — Wed, 05 Jul 2017 01:08:46 GMT

@AverageJoesCredit wrote:
Lockheart, what is the 8/65 rule you refer to?

1 app per 8 days and 2 apps per 65 days. I would hope that they are smart enough to not HP over the cap, so I wonder if OP checked his CR's yet.

Re: Declined for Best Buy card

bigpoppa09 — Wed, 05 Jul 2017 01:17:38 GMT

U got denied because u apped based off of fako scores CK scores aren't worth crap they just useful for monitoring accounts Citibank is more picky once u get your fico scores u can try Walmart Sync is easier if u wan't that computer and printer.

Re: Declined for Best Buy card

AverageJoesCredit — Wed, 05 Jul 2017 01:18:14 GMT

Thanks GhS Yeah i heard of the 8 day span , didnt know about the 65 days one though. New data point learned

Re: Declined for Best Buy card

CreditInspired — Wed, 05 Jul 2017 02:22:15 GMT

Just a thought -- was any Citi products included in your BK 15 years ago?

Re: Declined for Best Buy card

Bandit5160 — Wed, 05 Jul 2017 02:36:52 GMT

I'm pretty sure there was. But 15 years is a long time. People change.

Re: Declined for Best Buy card

peghede — Wed, 05 Jul 2017 03:35:27 GMT

There's other Credit unions ,banks there who wants your business,no need to go back on your knees back to the lenders you already won when u did Bk.

ps.just a thought don't say "atomic" on u applications (u can say solar power plant) last thing u want is Department of Homeland Security knocking on u door.lol

Re: Declined for Best Buy card

Bandit5160 — Sat, 08 Jul 2017 22:01:07 GMT

I got my rejection letter today. It simply said I had too many recent inquiries. It was the only reason they gave for turning me down. I guess I will wait a while then apply again. There are people will a hell of a lot more credit than me out there though so I find the whole thing silly. But it's their rules I have to go by so I'll wait about a year then reapply.