topic Re: BestBuy in Credit Card Applications

BestBuy

SemperGumby — Sat, 27 Oct 2018 21:08:38 GMT

So I am thinking of apping for a Best Buy card. I am rebuilding my credit. Score right now is 616, but should be at about 670 in the next week when reporting updates. (I paid off a bunch of debt). No BK's, repo's , etc. Income is just shy of $51000. What do y'all think my odds are? Store card or MC.

Re: BestBuy

SemperGumby — Sat, 27 Oct 2018 23:51:05 GMT

Bump...

Re: BestBuy

FinStar — Sat, 27 Oct 2018 23:52:19 GMT

What is the source of your scores...FICO, Vantage? What does the rest of your profile look like? AAoA, utilization?

MC is not offered, just the Visa or store card.

Re: BestBuy

SemperGumby — Sun, 28 Oct 2018 02:19:04 GMT

Score is from Fico. Right now it's 616, but I just paid off all of my credit cards, so my utilization will reflect something around 1%. A couple of collections, but no BK, repo, eviction, etc. AAoA is 3+ years. I also just paid off a student loan, and car. The car, student loan, and credit cards were paid in the last 30 days. Everything I've been able to figure out , and estimate says my score should go up to about 670 once it updates at the beginning of November.

Re: BestBuy

xaximus — Sun, 28 Oct 2018 02:53:13 GMT

I would wait until your scores have gone up. It may be a bit early though. You may get approved for the store card but Citi can be flaky at times. I would try to get the collections removed before trying.

Re: BestBuy

SemperGumby — Sun, 28 Oct 2018 02:57:43 GMT

Yeah, I was going to wait on the scores to go up. **bleep** Collections.

Re: BestBuy

Anonymous — Mon, 29 Oct 2018 06:52:33 GMT

I got approved for this card with a 633 credit score and two late payments on my credit report. I would recommend to only get this card if you shop at best buy a lot cause they havent given me a auto CLI yet. Its only HPs

Re: BestBuy

Brian_Earl_Spilner — Mon, 29 Oct 2018 07:12:22 GMT

I cancelled this card. Didn't like my interactions with Citi or it's executive office. Also, it's against ToS to bump your threads.

Re: BestBuy

Anonymous — Tue, 30 Oct 2018 00:09:02 GMT

@SemperGumby wrote:
Score is from Fico. Right now it's 616, but I just paid off all of my credit cards, so my utilization will reflect something around 1%. A couple of collections, but no BK, repo, eviction, etc. AAoA is 3+ years. I also just paid off a student loan, and car. The car, student loan, and credit cards were paid in the last 30 days. Everything I've been able to figure out , and estimate says my score should go up to about 670 once it updates at the beginning of November.

Just FYI -- paying off your car loan may actually cause a short-term (1-2 months) decrease in your score if you do not have any other open installment loans.

Re: BestBuy

BessTruman — Tue, 30 Oct 2018 02:11:36 GMT

I got a Best Buy Visa in May of this year. I got a SL of $3000! I almost fell to the floor.! I hadn't applied for a credit card in about 8 yrs. I had a bad financial period and just did not apply for any cards and HAD no cards. When the customer service agent suggested I try I thought...what the hell. She told me I was approved for a $3000 store card or the Visa. I took the Visa but I don't like this card. I bought a Samsung fitness watch and then a laptop for my sister; 2 separate purchases. I came in on the 0% APR til 10/19. Good deal! But...it only applies to those 2 items or something like that. I kind of ran up the card... lol I thought I had NO INTEREST! I saw a charge for $25 interest last month. I am carrying a balance cause I thought I had a year to pay it off. Now I have put it my sock drawer and won't use it anymore because I don't want to pay interest. I owe about $2000 on it. $1000 or so is under the 0% but the rest is accruing interest. I will keep it but won't use it til I can pay it all off in a couple of months and then it will be an emergency card. I tried last month to get an increase but CTI said no.

Re: BestBuy

Anonymous — Tue, 30 Oct 2018 02:25:30 GMT

I was approved for the Citi BestBuy Visa instantly with a low score (under 700) and only 7 months of credit history. I would not say it is a difficult card to get if I got it, haha. I will however say that Citi has been unwilling to give me credit with the amount of inquiries I have on my report, so that is something to consider. When I applied for the BestBuy visa I had not more than 4 total Inquiries (if I remember correctly).

Good luck!

Re: BestBuy

SemperGumby — Tue, 30 Oct 2018 05:50:59 GMT

Thankfully I have another auto loan. GAP coverage didn't cover everything and left about a $700 balance. Had to get another car in the interim.

Re: BestBuy

NeverGivinUp — Tue, 30 Oct 2018 06:50:43 GMT

Although YMMV, have to agree with the earlier post. We were so excited for the scores to soar when we paid off our car but our scores actually DROPPED 60 pts. That was 4 mos. ago & our files were thin. We've been opening new TL's still trying to get the points back but it'll take time.

Re: BestBuy

jgdev — Tue, 30 Oct 2018 17:42:02 GMT

Yea the 0% APR promos only apply to the order you make at the time. So for example I bought a home audio setup for $1600 that is 0% APR for 24 months. But if I bought something small like a video game that wouldn't be included in that promo. It's good if you buy big ticket items from Best Buy and want the 0% apr whenever you buy it as they always have those promos going on.

Re: BestBuy

SemperGumby — Sat, 01 Dec 2018 14:04:10 GMT

So I meant to respond to this sooner. I applied and was declined. The reason I was given was “”income””. I make net roughly $45000 at the time. If anyone has any information let me know, but I’m assuming they are referring to my debt to income?

Re: BestBuy

Anonymous — Sat, 01 Dec 2018 15:23:53 GMT

What was your score at the time you applied? You said that some debt was paid off and you were waiting for your scores to update. Are you sure that you didn't forget a 0 on your application........$45000 = $4500?

Re: BestBuy

aircobra — Sat, 01 Dec 2018 18:17:56 GMT

@SemperGumby wrote:
So I meant to respond to this sooner. I applied and was declined. The reason I was given was “”income””. I make net roughly $45000 at the time. If anyone has any information let me know, but I’m assuming they are referring to my debt to income?

What were your scores? And how much debt do you have? I was approved right before Thanksgiving and I only listed $30000 as my income, but my EX score was 690 and my DTI is about 7%.

Re: BestBuy

Anonymous — Sun, 05 May 2019 05:10:54 GMT

BestBuy uses Experian. I just applied today 5/4/19 and got denied..Experian FICO score 8 /613. I think you have to be in the 7s to get this card.

Re: BestBuy

ChargedUp — Sun, 05 May 2019 05:37:44 GMT

As with any major lender, Citi can be fickle. We typically see Citi approvals around here starting in the mid to upper 600's for their own in-house card products. (although there have been a couple exceptions noted) Citi seems to be similar with the Home Depot card.