topic Re: Best Buy - Soft hit? in Credit Card Applications

Best Buy - Soft hit?

dsotm76 — Sun, 15 Apr 2018 20:46:55 GMT

Hey everyone!!
So I'm really needing a computer and want to go big. The financing of 12 months no interest is enticing. And I like that they are backed by Citi. So, I was asking about their pulls and the guy said it's a soft pull to apply. Thinking this isn't right, I questioned it and he said he'd check it out with his manager. She said what they do is a "soft hit." Apparently it is a point for 30 days and you get it back as long as you aren't applying everywhere.

Can anyone shed light on this for me? Or is there any confirmation?

Re: Best Buy - Soft hit?

Anonymous — Sun, 15 Apr 2018 22:22:12 GMT

I’m pretty sure it is a HP (unless something has changed).

If you really want the card, the HP is worth it IMO.

Re: Best Buy - Soft hit?

Anonymous — Sun, 15 Apr 2018 22:32:22 GMT

It's a hard pull. I just got the card no more than a month ago. They pulled my Equifax report.

Re: Best Buy - Soft hit?

dsotm76 — Sun, 15 Apr 2018 23:15:02 GMT

Thank you both so much!! I thought that it would be. Never heard of the soft hit she referred to. I believe they could get in trouble for giving false info about applying. I know at my company, we can get in trouble for it. Not sure if that's directly related to our card issuer or by law.

Re: Best Buy - Soft hit?

chaos51 — Sun, 15 Apr 2018 23:27:03 GMT

It's definitely a hard pull. It is also a hard pull for a CLI unless they auto CLI you.

Re: Best Buy - Soft hit?

Anonymous — Mon, 16 Apr 2018 04:17:15 GMT

it's likely a SP for pre-qual purposes just to see if you're worth the paper work. But it's definitely a HP to open the account.

Re: Best Buy - Soft hit?

chaos51 — Mon, 16 Apr 2018 04:27:05 GMT

Best Buy does not have a prequal option like Citi does with HD. Reps will confirm this if you call.

Re: Best Buy - Soft hit?

Anonymous — Mon, 16 Apr 2018 10:34:03 GMT

SP usually for CLI's, Pre-Qualified, Pre-Approval, Insurance quotes... Loans, Credit Cards usually HP's unless it's reported by folks on here.

Re: Best Buy - Soft hit?

dsotm76 — Mon, 16 Apr 2018 11:29:03 GMT

And this is the reason I love this board. As the employees were trying to get me to apply with false info, it's been corrected by coming on here. I thought something sounded really strange with the "soft hit' and getting my point back in 30 days. You all rock!! Thanks!!

Re: Best Buy - Soft hit?

HeavenOhio — Mon, 16 Apr 2018 13:55:09 GMT

I've frequently heard or overheard the soft pull pitch in various stores. I chalk it up to employees not knowing what they're talking about and that they're simply following instructions from management, who also doesn't know the difference. Some will explain that the effect of an inquiry on one's score is minimal, which is more accurate.

Re: Best Buy - Soft hit?

Anonymous — Mon, 16 Apr 2018 23:41:07 GMT

Some people are just very eager to promote the card, after all the store and Associate receive a kickback. So in their opinion, selling you on it with a SP promise seems harmless to them. After all, most people know it's gonna be a HP to app for 99% of the CCs. Amex seems to be the only one who doesn't, if you're already with them.

Re: Best Buy - Soft hit?

HeavenOhio — Tue, 17 Apr 2018 15:31:49 GMT

I don't think the majority of the general public knows the difference between a SP and a HP. And if store employees knew the difference, most would see pushing the SP as dishonest.

For most, a hard pull here and there isn't a big deal. The inquiry could be sold as being of "little consequence" while still being honest and fairly accurate.