topic Re: Best Buy Card in Credit Card Applications

Best Buy Card

crmartin0279 — Tue, 07 Feb 2023 01:21:12 GMT

Does anyone know if the app for the Best Buy card will give the actual APR if there is any pre-approval?

When doing the app it gives me 28.51% instead of the normal 18.9% - 30.9%/

Re: Best Buy Card

CreditCuriosity — Tue, 07 Feb 2023 01:51:53 GMT

Best buy CC only has pm;y one APR and it is in the high 20's or low 30's now. There isn't a range. It is take it or leave it it also increasing with FED rate hikes.

Re: Best Buy Card

crmartin0279 — Tue, 07 Feb 2023 02:00:28 GMT

@CreditCuriosity wrote:
Best buy CC only has pm;y one APR and it is in the high 20's or low 30's now. There isn't a range. It is take it or leave it it also increasing with FED rate hikes.

Thanks for the Info!!!

Re: Best Buy Card

wingennis — Wed, 08 Feb 2023 14:48:12 GMT

I got an unsolicited pre-approval via email. I clicked the terms and conditions and it took me to a page that listed 30.29% interest. Delete.

Re: Best Buy Card

BronzeTrader — Wed, 08 Feb 2023 15:29:01 GMT

@wingennis wrote:
I got an unsolicited pre-approval via email. I clicked the terms and conditions and it took me to a page that listed 30.29% interest. Delete.

So US Congress still allows banks to charge us 30%+ interest rate?

And those are Citi, BofA and Wells Fargo, nation's largest consumer banks.

Re: Best Buy Card

CreditCuriosity — Wed, 08 Feb 2023 16:27:50 GMT

@BronzeTrader wrote:
@wingennis wrote:
I got an unsolicited pre-approval via email. I clicked the terms and conditions and it took me to a page that listed 30.29% interest. Delete.
So US Congress still allows banks to charge us 30%+ interest rate?

And those are Citi, BofA and Wells Fargo, nation's largest consumer banks.

Banks got to make profits.. As feds raise rates this has to be passed on. Imagine if anywhere back in the early 80's back in Carter/Reagen days that rate would likely be around 40%. Most prime rewards cards are into the 20%'s now and likely as you know store cards are always higher due to various factors. Without getting policitcal gov't should have no business in individual lending decisions. Heck payday loan shops are way higher and consumers have that choice. With that said tons was taken care of during 2009 card act

Re: Best Buy Card

Zoostation1 — Thu, 09 Feb 2023 05:50:10 GMT

I've got the highest rates offered on my cards. 27.24%, (Discover Chrome) 29.49% (BCP), 29.74% (SavorOne), and 31.24%.(VentureOne). Given that I'm rebuilding it's to be expected, but thankfully I've not paid any interest since getting back into the credit game. That being said, I just received an offer for the Avant Card in my mailbox today and while I PIF, I still can't bring myself to apply for it when it has a 34.25% APR for a 1% rewards card.

Re: Best Buy Card

wingennis — Fri, 10 Feb 2023 12:57:17 GMT

@Zoostation1 wrote:
I've got the highest rates offered on my cards. 27.24%, (Discover Chrome) 29.49% (BCP), 29.74% (SavorOne), and 31.24%.(VentureOne). Given that I'm rebuilding it's to be expected, but thankfully I've not paid any interest since getting back into the credit game. That being said, I just received an offer for the Avant Card in my mailbox today and while I PIF, I still can't bring myself to apply for it when it has a 34.25% APR for a 1% rewards card.

Sounds like excellent gardening motivation to me😎