topic Re: Anyone had success in re-applying for Best Buy? in Credit Cards

Anyone had success in re-applying for Best Buy?

pazuzu — Sun, 07 Nov 2010 20:19:20 GMT

In Feb. 09, I applied for both the Best Buy store card and the Reward Zone MasterCard.

I was denied for the store card for too many inquires, and denied the MC due to derogatory public record (aka BK) from 2004.

I'm thinking about re-apping, maybe in store instead of online, and wondered if anyone who was denied earlier was approved the second time around.

Re: Anyone had success in re-applying for Best Buy?

Anonymous — Sun, 07 Nov 2010 20:20:37 GMT

Depending on your scores you could go with a different card. Perhaps a bank card.

Re: Anyone had success in re-applying for Best Buy?

haulingthescoreup — Mon, 08 Nov 2010 02:52:50 GMT

I don't know about your FICO scores, but the BB store card is hard to get. This is different from most cases, where the store version is easy and the co-branded bank card is harder.

The "too many inqs" thing would probably not apply now, but the prior BK might kick in now if you re-applied. No telling for sure what would happen now, though.

Re: Anyone had success in re-applying for Best Buy?

pazuzu — Mon, 08 Nov 2010 17:37:55 GMT

I now think it's a bad idea to re-app after seeing this at the end of the page:

HSBC Bank Nevada, N.A. will use specific credit criteria to evaluate your application for credit. In general, PRIOR BANKRUPTCY, multiple major derogatory credit histories (e.g., foreclosure, repossessions, tax liens, prior charge offs, etc.), or other negative financial information may decrease the likelihood of credit approval.

BTW, my scores are:

695 TU/ 700 EQ

Re: Anyone had success in re-applying for Best Buy?

halos24 — Mon, 08 Nov 2010 18:16:24 GMT

Just sharing my recent experience when I applied for both the BBMC and BB card. For the BBMC they approved me instantly online for $500 no AF. Fast forward weeks later for the store card (we wanted to finance a new TV) and although I though tmy scores were decent at the time to apply I was instantly DENIED due to my Bankruptcy point blank!!! Yes, I do have lates that are about or older than 2yrs, but that was not the denial reason. I did call the back door number twice and both times was told that if I did not have the bankruptcy they would of approved me (overturned the denial) and basically told me to re-apply when that fell off. I am sure that may not be the case with every one, but from what I have read the store card is not bankruptcy friendly. In those cases that it has been is probably for those who started the rebuilding process soon after the bankruptcy was dismissed. In my case I am about 1year and 6 months away from it falling off my reports but did not start rebuilding my credit again until a few years ago, and then also did not manage credit responsibly until about two years ago.

Good luck!!!

Re: Anyone had success in re-applying for Best Buy?

halos24 — Mon, 08 Nov 2010 18:18:08 GMT

If you want to at least get the BBMC I would apply, looks like they would approve you but it depends what you want the card for? If it is just to continue rebuilding or get another MC then go for it maybe you might not even get hit with an AF. If you wanted it for financing purposes for electronics at BB store then I would wait.

Re: Anyone had success in re-applying for Best Buy?

pazuzu — Tue, 09 Nov 2010 05:00:22 GMT

Went to the store and applied, told them I was going to be making a $2K purchase.

DENIED on the spot.

Should've known better than to re-apply.

Insanity is doing them same thing and expecting a different result.

A case of fool me once, shame on you, fool me twice, shame on me.

I'm done with Best Buy 4evah!

I'll be buying my big TV and sound system elsewhere.

The only upside is my FICO score won't be getting dinged for a new account, just for the INQ.

Re: Anyone had success in re-applying for Best Buy?

Creditaddict — Tue, 09 Nov 2010 19:34:40 GMT

@pazuzu wrote:
Went to the store and applied, told them I was going to be making a $2K purchase.

DENIED on the spot.

Should've known better than to re-apply.

Insanity is doing them same thing and expecting a different result.

A case of fool me once, shame on you, fool me twice, shame on me.

I'm done with Best Buy 4evah!

I'll be buying my big TV and sound system elsewhere.

The only upside is my FICO score won't be getting dinged for a new account, just for the INQ.

you should have no issues getting the best buy mastercard, just make sure you use the pre-approval link to check before applying. Store card I don't think is all that BK friendly for whatever reason. BK is not an issue for the mastercard, believe me I have 2 bk's and burned HSBC in both BK's and got both a sears MC by HSBC and Best Buy MC

Re: Anyone had success in re-applying for Best Buy?

pazuzu — Tue, 09 Nov 2010 20:36:19 GMT

Since I applied in-store, rather than online, I assumed that I would be considered for both cards. Not one or the other.

Re: Anyone had success in re-applying for Best Buy?

pazuzu — Tue, 09 Nov 2010 22:02:07 GMT

I think the problem is with Best Buy's credit standards, not HSBC.

I have an HSBC Neiman Marcus card with a healthy CL.

Re: Anyone had success in re-applying for Best Buy?

Anonymous — Tue, 09 Nov 2010 22:05:21 GMT

@Creditaddict wrote:
you should have no issues getting the best buy mastercard, just make sure you use the pre-approval link to check before applying. Store card I don't think is all that BK friendly for whatever reason. BK is not an issue for the mastercard, believe me I have 2 bk's and burned HSBC in both BK's and got both a sears MC by HSBC and Best Buy MC

Is the pre-approval link for this still open to the general public? I thought I just read it was dead and only employees could use it. Did they reinstate it?

Re: Anyone had success in re-applying for Best Buy?

Creditaddict — Tue, 09 Nov 2010 22:17:04 GMT

well just did search above and clicked on the link that I use to use and it wasn't valid.... so maybe you are right but why would they have taken it away... they have been handing cards out like candy

Re: Anyone had success in re-applying for Best Buy?

Anonymous — Tue, 09 Nov 2010 22:25:54 GMT

lol. Yep, probably so.

Re: Anyone had success in re-applying for Best Buy?

Anonymous — Wed, 10 Nov 2010 02:20:03 GMT

@Creditaddict wrote:
well just did search above and clicked on the link that I use to use and it wasn't valid.... so maybe you are right but why would they have taken it away... they have been handing cards out like candy

Everyone is cutting back expenses. Pre-qualifying with a soft pull still cost them money with the CRA's. Also the cost of keeping the software updated and working properly. Etc....

Re: Anyone had success in re-applying for Best Buy?

scottwagnon — Wed, 10 Nov 2010 02:27:10 GMT

LOL... YEAH.... LOL... OH MY... life takes unexpected turns. November 1 DENIED..... November 9 APPROVED....

Re: Anyone had success in re-applying for Best Buy?

kysin2014 — Mon, 22 Nov 2010 04:53:12 GMT

Did you apply in the store or online for the Best Buy credit card? I applied online a year ago and was approved with a recent Ch. 13 BK Discharge.

Re: Anyone had success in re-applying for Best Buy?

kysin2014 — Mon, 22 Nov 2010 04:55:34 GMT

If you really want the Best Buy store card, try applying first at the store. If declined, wait at least 31 days to re-apply, but this time apply online to see if you are approved. If you apply in the store, Best Buy will try to get you approved with Chase. If you apply online, Best Buy will use HSBC for their store brand card. BestBuy HSBC store card and Rewards Gold MC are both obtainable with a BK since both my wife and I were approved for them.

Re: Anyone had success in re-applying for Best Buy?

pazuzu — Mon, 22 Nov 2010 20:43:26 GMT

I didn't apply through the pre-selector when it was active b/c it was spitting out $100 cards. To me, that's worse than getting denied b/c your score will get dinged for the new account w/ a next to nothing CL.

Re: Anyone had success in re-applying for Best Buy?

Anonymous — Tue, 23 Nov 2010 08:51:25 GMT

@pazuzu wrote:
I think the problem is with Best Buy's credit standards, not HSBC.

I have an HSBC Neiman Marcus card with a healthy CL.

Not exactly. Neiman Marcus costs less to operate for HSBC than it does the Best Buy card, and the NM card makes more money.

The 0% financing is the reason why the Best Buy Store Card is harder to get. They make a lot less on it, so they are selective over who gets it, for obvious reasons.

Re: Anyone had success in re-applying for Best Buy?

Anonymous — Thu, 02 Dec 2010 18:53:29 GMT

@jinswaz wrote:
If you really want the Best Buy store card, try applying first at the store. If declined, wait at least 31 days to re-apply, but this time apply online to see if you are approved. If you apply in the store, Best Buy will try to get you approved with Chase. If you apply online, Best Buy will use HSBC for their store brand card. BestBuy HSBC store card and Rewards Gold MC are both obtainable with a BK since both my wife and I were approved for them.

I applied in store 11/27/10 and was denied. The only screen displayed that the credit issuer was HSBC so I do not believe they offer cards with Chase. I belive HTSU reported on another post that the Chase branded cards are from customers who previously had Circuit City.