topic Best Buy Store Card in Credit Card Applications

Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 16:06:27 GMT

I have been reading alot on these forums, about this card, and it seems to be a hit and miss, to get approved.

Would anyone mind sharing, their experience with this store card (in relations to approvals).

Ive been reading Citi has taken over from Cap1, for this card, or is that for the BB MC?

Thanks

Re: Best Buy Store Card

ojefferyo — Tue, 07 Jul 2015 16:12:06 GMT

@Anonymous wrote:
I have been reading alot on these forums, about this card, and it seems to be a hit and miss, to get approved.

Would anyone mind sharing, their experience with this store card (in relations to approvals).

Ive been reading Citi has taken over from Cap1, for this card, or is that for the BB MC?

Thanks

What do you mean by hit or miss? As long as you have decent scores and reports are fairly clean you would be able to get the store card, the MC version obviously would call for more higher standards.

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 16:13:05 GMT

@ojefferyo wrote:
@Anonymous wrote:
I have been reading alot on these forums, about this card, and it seems to be a hit and miss, to get approved.

Would anyone mind sharing, their experience with this store card (in relations to approvals).

Ive been reading Citi has taken over from Cap1, for this card, or is that for the BB MC?

Thanks
What do you mean by hit or miss? As long as you have decent scores and reports are fairly clean you would be able to get the store card, the MC version obviously would call for more higher standards.

I meant, like approvals on the store card can be either be a hit or a miss.

Re: Best Buy Store Card

ojefferyo — Tue, 07 Jul 2015 16:15:50 GMT

How does your profile look like?

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 16:20:55 GMT

@ojefferyo wrote:
How does your profile look like?

Scores, low 700s

Just got approved for Amex BCE and PRG 50K yesterday

No baddies, no derogs

Most recent credit app in November 2014 ( Sallie Mae ) and approved

First ever CC app in June 2014 (Chase Freedom ), and approved

Mortgage applied and approved in May 2014

Been AU on my wife's credit history since Jan 2014.

Re: Best Buy Store Card

9CLINE — Tue, 07 Jul 2015 16:23:19 GMT

I got the store card ~2yrs ago was Citi backed, they checked my EQ in NC had 730 FICO got instant approval online, I have heard apping in store is the way to get the MC version.. I don't know cuz like I said I did mine online.

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 16:31:04 GMT

Sounds like you shouldn't have an issue being approved.

Re: Best Buy Store Card

ojefferyo — Tue, 07 Jul 2015 16:41:47 GMT

I don't see why you wouldn't get the store card.

Re: Best Buy Store Card

SecretAzure — Tue, 07 Jul 2015 16:44:20 GMT

@Anonymous wrote:
Sounds like you shouldn't have an issue being approved.

Sounds more like the score OP has provided are not FICO scores or OP would have provided exact numbers. OP are you using Credit Karma or some other service for your scores? How do you know you are in the low 700's range?

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 16:49:38 GMT

@SecretAzure wrote:
@Anonymous wrote:
Sounds like you shouldn't have an issue being approved.
Sounds more like the score OP has provided are not FICO scores or OP would have provided exact numbers. OP are you using Credit Karma or some other service for your scores? How do you know you are in the low 700's range?

Yes, its off CK and Credit seame.

But its pretty close tbh, becuase my mortage scores were close to them, and my Barclay Sallie Mar cards shows 735, I am not sure what they use, possibly TU :/

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 18:11:42 GMT

I'm a noob here but a best buy employee of 5 years. Both the store card and the MC are backed by citi. It was cap one awhile back and I see a lot more approvals now than when it was cap one. There's a few different versions of the MC, the gold has the annual fee and the platinum has no annual fee. If you can hold off til august I would do that because it's changing. Soon customers will be able to choose between the store card mastercard (which is actually changing to visa in august). If you apply now it just gives you whatever one based on your score and you probably wouldn't want to be stuck with the MC gold that has a $59 annual fee... I had that one and it wasn't worth the annual fee and ended up closing it. I got approved for the store card way back when it was HSBC. I bet with your scores you could have a choice between the store card and what will be the visa card if you wait till august. I see way more people get approved for the store card though. I'd be shocked if you didn't get approved for the store card. Sorry this is a long explanation but hope it helped! Good luck

Re: Best Buy Store Card

SecretAzure — Tue, 07 Jul 2015 18:19:44 GMT

@Anonymous wrote:
I'm a noob here but a best buy employee of 5 years. Both the store card and the MC are backed by citi. It was cap one awhile back and I see a lot more approvals now than when it was cap one. There's a few different versions of the MC, the gold has the annual fee and the platinum has no annual fee. If you can hold off til august I would do that because it's changing. Soon customers will be able to choose between the store card mastercard (which is actually changing to visa in august). If you apply now it just gives you whatever one based on your score and you probably wouldn't want to be stuck with the MC gold that has a $59 annual fee... I had that one and it wasn't worth the annual fee and ended up closing it. I got approved for the store card way back when it was HSBC. I bet with your scores you could have a choice between the store card and what will be the visa card if you wait till august. I see way more people get approved for the store card though. I'd be shocked if you didn't get approved for the store card. Sorry this is a long explanation but hope it helped! Good luck

Let me start with:

Give this man/woman some KUDOS!! Well deserved.

Good insider info so I thank you. I agree with waiting. If you (OP) just got your scores and you are not comfortable with going in now and possibly getting a version you might not like it can't hurt to wait. Your scores will only go up from this point, I believe in waiting. Thank you for providing how you had a guess of your scores.

I just wanted to make sure since we get tons of people who join myfico and say "My scores are 730 and I got denied for Chase Freedom (or whatever)" which is very unlikely to happen and then it turns out they meant credit karma (or sesame) scores which are more like guesstimates.

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 18:24:22 GMT

So whats changing in August? I sure can wait, since I can use my recently approved Amex for 0% Apr

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 18:26:52 GMT

Both versions have the same financing benefits BTW. With the MC (soon to be visa as mentioned) you can earn points outside of best buy too... 1% or 2% on dining and groceries. 5% back at best buy if no financing is used. You also get the 5% with the store card. In my opinion it's definitely worth getting the MC/Visa but only if it's platinum. All the same benefits except lower apr (around 18% from what I've see, store card I've never seen below 28% - yikes!), and you can use it wherever. But everyone has different needs!

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 18:31:45 GMT

My experience with best buy last october i tried to get a card to finance a 70inch vizio flat screen tv i got denied because my credit was bad and tomany collections 8 months later i get approved for a mortgage best buy just lost a good customer yes im holding a grudge. lol

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 18:32:08 GMT

In August customers will be able to choose between the visa or just the regular card as long as they're approved. It will approve you and then you pick which one you want. Unless it's only able to approve you for the store card then you don't get a choice. It's a kind of a grey area with the option to pick between the two. I can update you with more information when I find out! Also the financing is changing a bit... you can do 6 month financing for $199 and up... right now until that changes it's 6 months for $149 and up.

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 18:32:14 GMT

Thanks, will the VISA have an annual fee?

And will that be from Citi too?

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 18:36:54 GMT

Yes it will still be citi. And there will still be a visa with the annual fee which is $59 (gold version) and no fee (platinum version), obviously which one you get depends on your credit There used to be a gold version with no fee and a higher apr but I haven't seen it in a few years so I don't think it even exists anymore.

So basically there's the visa with fee, visa with no fee, and the store card.

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 18:59:06 GMT

My DH got approved with the Best Buy MC and was given the choice between the store card and the MC version. I believe his scores were in the low 700's. But to the OP give it a try. You'll never know unless you try!

Re: Best Buy Store Card

Anonymous — Tue, 07 Jul 2015 19:28:37 GMT

My experience with Best Buy store card (not MC) is this: I tried in 2013 when I had 2 collections showing and no credit cards (none, not even a store card) and I was denied - scores were low 600's. A few months after the denial, I got 2 store cards, then 9 months later I re-applied for Best Buy - scores were mid 600's now, but still had the 2 unpaid collections showing, and I was approved for a 1k limit. 6 months after the approval, I requested a CLI (it was a HP), I asked for 5k and got it.