topic Re: Best Buy Credit Card in Credit Cards

Best Buy Credit Card

Anonymous — Mon, 26 Jan 2009 23:24:52 GMT

Hello,

I went online and applied for a store Best Buy credit card, I was approved for a MasterCard with a $39 annual fee.

I declined the master card, I have enough visas and master cards. Is there anyway I can have them transfer the inquiry for a Store Credit Card if I call them?

usaims

Re: Best Buy Credit Card

pazuzu — Tue, 27 Jan 2009 00:12:40 GMT

I'd like to know why so many are declined for the BB store card. What reasons are they citing?

Message Edited by pazuzu on 01-26-2009 04:12 PM

Re: Best Buy Credit Card

Anonymous — Tue, 27 Jan 2009 00:34:58 GMT

If they decline you for the store card they usually counter with the mastercard and a meesly $300.00 limit.

Re: Best Buy Credit Card

pazuzu — Tue, 27 Jan 2009 00:45:32 GMT

That BBMC sounds like the now-defunct Sears Solutions MC. High AF/ Low CL.

Re: Best Buy Credit Card

Creditaddict — Tue, 27 Jan 2009 02:45:26 GMT

@Anonymous wrote:
Hello,

I went online and applied for a store Best Buy credit card, I was approved for a MasterCard with a $39 annual fee.
I declined the master card, I have enough visas and master cards. Is there anyway I can have them transfer the inquiry for a Store Credit Card if I call them?

usaims
you get offered the mastercard if they won't approve your credit for the store card.

Re: Best Buy Credit Card

Red1Blue — Tue, 27 Jan 2009 02:55:37 GMT

@Creditaddict wrote:
@Anonymous wrote:
Hello,

I went online and applied for a store Best Buy credit card, I was approved for a MasterCard with a $39 annual fee.
I declined the master card, I have enough visas and master cards. Is there anyway I can have them transfer the inquiry for a Store Credit Card if I call them?

usaims
you get offered the mastercard if they won't approve your credit for the store card.

I thought it is the otherway around with other companies. They look to approve you first for MC/Visa and if it is not approved then they will consider for the store card. Looks like BB-HSBC is other way around.

Re: Best Buy Credit Card

Creditaddict — Tue, 27 Jan 2009 02:57:59 GMT

@Red1Blue wrote:
@Creditaddict wrote:
@Anonymous wrote:
Hello,

I went online and applied for a store Best Buy credit card, I was approved for a MasterCard with a $39 annual fee.
I declined the master card, I have enough visas and master cards. Is there anyway I can have them transfer the inquiry for a Store Credit Card if I call them?

usaims
you get offered the mastercard if they won't approve your credit for the store card.

I thought it is the otherway around with other companies. They look to approve you first for MC/Visa and if it is not approved then they will consider for the store card. Looks like BB-HSBC is other way around.
Best Buy is WAY Backwards, they try for store card first and then offer mastercard if not.

Re: Best Buy Credit Card

Anonymous — Tue, 27 Jan 2009 03:09:30 GMT

@Creditaddict wrote:
@Red1Blue wrote:
@Creditaddict wrote:
@Anonymous wrote:
Hello,

I went online and applied for a store Best Buy credit card, I was approved for a MasterCard with a $39 annual fee.
I declined the master card, I have enough visas and master cards. Is there anyway I can have them transfer the inquiry for a Store Credit Card if I call them?

usaims
you get offered the mastercard if they won't approve your credit for the store card.

I thought it is the otherway around with other companies. They look to approve you first for MC/Visa and if it is not approved then they will consider for the store card. Looks like BB-HSBC is other way around.
Best Buy is WAY Backwards, they try for store card first and then offer mastercard if not.

Re: Best Buy Credit Card

Anonymous — Tue, 27 Jan 2009 03:28:25 GMT

I also applied for the BB store card and ended up getting the reward zone MC. I called and the transfered me to a Credit Analyst who said I had too many inquires so that'a some kinda disqualification. It's weird I don't understand what they are looking for.

Re: Best Buy Credit Card

Anonymous — Tue, 27 Jan 2009 03:43:29 GMT

Am I the only one who thinks that the Best By business structure and their pairing with HSBC is a pinko commi plot?

Re: Best Buy Credit Card

Anonymous — Tue, 27 Jan 2009 16:49:55 GMT

@Anonymous wrote:
Is there anyway I can have them transfer the inquiry for a Store Credit Card if I call them?
When I applied for the BB card, I was given literature explaining that if I am denied for the BB card, I may be given a different card. The CSR also explained this policy before she ran my application. I was approved for the BB card with an initial CL of $3300. So, I believe your application was ran for the BB card but since you didn't qualify, you were offered the MC.

While I fully understand why you don't want another Visa or MC, I would keep the card because you have already taken the hit on your credit. Maybe you can get the AF waived on the card's anniversary?

Re: Best Buy Credit Card

Anonymous — Tue, 27 Jan 2009 17:19:05 GMT

I have heard it's a soft pull when you apply for the store card; I also heard when they offer you the visa and you say yes, then it's a hard pull.

ScoreWatch didn't alert me today that there was a hard pull.

usaims

Re: Best Buy Credit Card

Anonymous — Tue, 27 Jan 2009 18:08:37 GMT

Umm, I got a hard pull for the initial application. When I requested a CLI on my BB card, it was only a soft pull. I know that you have the right to refuse the MC but your credit application has already been ran (for the BB card). Denial or acceptance won't make that inquiry disappear. As a rule of thumb, almost all initial applications are hard pulls. I don't want to say all because there may be some exceptions.

When I checked whogavemecredit.com, most of the applicants took hits on EQ. A small few took a hit to TU. Is your SW watching EQ? Also, if this is the only inquiry you have had in the past year, it will not affect your score.

Re: Best Buy Credit Card

tempusfugit123 — Wed, 28 Jan 2009 06:25:15 GMT

I applied for the MC first and was denied and then applied for the store card and was approved. I took a hit on EQ. I dont believe a bank would just do a soft pull (unless you have godly excellent credit) everything seems hard to me.

Re: Best Buy Credit Card

Anonymous — Wed, 28 Jan 2009 06:57:45 GMT

I did an application, with the intention of getting the rewards zone mastercards, but was approved for the best buy store card with $2500 limit. I'm glad that I didn't get the mastercard now.

Re: Best Buy Credit Card

haulingthescoreup — Wed, 28 Jan 2009 12:07:36 GMT

WiseYoungMan21 wrote:
I did an application, with the intention of getting the rewards zone mastercards, but was approved for the best buy store card with $2500 limit. I'm glad that I didn't get the mastercard now.

Congrats, you lucked out there!

I app'd sort of accidentally for the store card and got it. We were trying to figure out if they had a soft pre-app on their website, and I gave it a whack. I promise that they never once had anything where they stated that if I went any further, they would pull my credit, but they did, and so now I have a semi-useless card with a CL of $2500. It was definitely a hard on EQ. It was showing on my report within five minutes.

I think the reason for the role reversal for the Best Buy cards is that you have to have a decent credit limit to have fun in their store and make them money, so the store card is useless with less than a $1K CL. If they run your credit and don't want to risk that, you get shunted over to the MC, which has the typical $500 or so CL of a lot of the HSBC/ Orchard bank cards.

Re: Best Buy Credit Card

pazuzu — Wed, 28 Jan 2009 16:43:26 GMT

Well, someone reported thay they were recently approved for the *store* card with a 300 CL!

A set of Shure earbuds would put you over that limit.

Re: Best Buy Credit Card

Anonymous — Wed, 28 Jan 2009 18:40:11 GMT

Actually with the RZMC (rewardzone master card) you can get approved with higher limits than the BBY actually. I actually run applications in store for BBY. The RZMC and the BBY card look for different things based off your FICO score. I don't actually know what things they look for, but it's really random how they approve people for the card. Some people that come in can get approved for $2300 on the BBYcard and nothing with the RZMC or $1700 with the RZMC and nothing with the BBY or declined for both or approved around the same amount with the cards.

Message Edited by stoopidmunkee on 01-28-2009 01:40 PM

Re: Best Buy Credit Card

pazuzu — Wed, 28 Jan 2009 18:50:34 GMT

Before researching their CCs, I was planning to order one of their Insignia plasma tvs and apply at the time. Now I'll be buying/applying someplace else.

Message Edited by pazuzu on 01-28-2009 10:50 AM

Re: Best Buy Credit Card

Anonymous — Wed, 28 Jan 2009 19:07:10 GMT

A month ago I would have recommended circuit city/chase. lol

@pazuzu wrote:
Before researching their CCs, I was planning to order one of their Insignia plasma tvs and apply at the time. Now I'll be buying/applying someplace else.
Message Edited by pazuzu on 01-28-2009 10:50 AM