topic Re: Best Buy Card in Credit Cards

Best Buy Card

JustJen — Mon, 18 Mar 2013 21:01:53 GMT

We're looking into puchasing a few things for our new place, and were looking into Best buy because of the 0% for 24 months. I used to have the Best Buy Reward Zone Mastercard (issued by HSBC) that never got a CLI, so I closed it probably in the 4th quarter of last year. My credit has improved since I initially app'd for my old BB card so being approved shouldn't be an issue I wouldn't think. Once upon a time I believe the store card and the mastercard were offered by two different creditors, but it seems like both are being offered by Capital One; is this correct?

I already have two cards with Capital One so I'm hesitant to open anything with them, as I never get CLI's on either of them and I would be worried about my initial CL.

What has been people's experience with the BB store card? If you have other cards with capital one have they been more generous with your store card than your other general Capital One backed cards?

I know I can get another 0% offer at a local appliance store for about 2-3 years, but if we went with Best Buy we also would be able to take advantage of an employee discount on top of having 0% for 2 years so it's definitely the more cost efficient way to go. But don't want to risk it if they don't give a good initial CL to cover the cost of what we're trying to buy and then just end up with a hard pull for no reason. And I'm assuming since it's Capital One they're gonna pull all 3!

Re: Best Buy Card

JustJen — Mon, 18 Mar 2013 23:13:12 GMT

Bump...

Anyone?

Re: Best Buy Card

Anonymous — Mon, 18 Mar 2013 23:27:51 GMT

My experience with the best buy store card hasn't been too bad. Last time I called in, it still seemed like it was a separate (better) department than the regular crap1 service. They gave me a good starting limit and CLI's.

It may not be the standard triple pull, not sure.

Re: Best Buy Card

mnavas — Mon, 18 Mar 2013 23:36:44 GMT

Even when Cap 1 isssues this card, it works kinda different... First they usually pull Equifax only.. My mom requested this card a few months ago, her FICO score was around 680 and yet they approved her for $2000. (The App was done in the store) Two months later she requested a CLI on the BB website (theres a bottom to request CLI) they only asked for her income and gave her $1,500 more (the best part of this she got that CLI with a SP) so she now has $3500

Re: Best Buy Card

dodgerslv — Mon, 18 Mar 2013 23:46:36 GMT

I have tried to get this card in the past and have been denied both times. First time was back in March 2012 and listed a bunch of reasons why they couldnt approve (should have known better). Then i applied October and this time the reason for denial was because number of inquiries. That was my last inquiry on EQ (who they pulled). Dont know if they will approve me now because i have been itching to buy a 3D TV and Ipad.... Also like there no interest promos. Most likely will not burn a HP for a card that wouldnt use much.

Re: Best Buy Card

Anonymous — Mon, 18 Mar 2013 23:51:27 GMT

@JustJen wrote:
We're looking into puchasing a few things for our new place, and were looking into Best buy because of the 0% for 24 months. I used to have the Best Buy Reward Zone Mastercard (issued by HSBC) that never got a CLI, so I closed it probably in the 4th quarter of last year. My credit has improved since I initially app'd for my old BB card so being approved shouldn't be an issue I wouldn't think. Once upon a time I believe the store card and the mastercard were offered by two different creditors, but it seems like both are being offered by Capital One; is this correct?

I already have two cards with Capital One so I'm hesitant to open anything with them, as I never get CLI's on either of them and I would be worried about my initial CL.

What has been people's experience with the BB store card? If you have other cards with capital one have they been more generous with your store card than your other general Capital One backed cards?

I know I can get another 0% offer at a local appliance store for about 2-3 years, but if we went with Best Buy we also would be able to take advantage of an employee discount on top of having 0% for 2 years so it's definitely the more cost efficient way to go. But don't want to risk it if they don't give a good initial CL to cover the cost of what we're trying to buy and then just end up with a hard pull for no reason. And I'm assuming since it's Capital One they're gonna pull all 3!

I am sorry to say this but bestbuy is backd by Capitalone and at this point is a 50/50 chance with them. Capitalone is good for rebuilding but as far as prime i wish i could agree with them.Good luck though hope everything goes good

Re: Best Buy Card

JustJen — Tue, 19 Mar 2013 00:10:25 GMT

Yea....I don't know if it's worth it as we are looking to buy within the next month, wouldn't really be anytime to let the account age to try and get a CLI.

Hopefully more people will comment on their experience before I make a decision.

Re: Best Buy Card

Anonymous — Tue, 19 Mar 2013 00:22:19 GMT

Go for it though.A single inq will not hurt your score at all.I would if i were you

Re: Best Buy Card

angelcred10 — Tue, 19 Mar 2013 04:04:03 GMT

If you have access to an employee discount, why WOULDN'T you do this?

The new TVs are already coming out, and you'll get services cheap as well with geek squad!

First off shame on that employee for not talking you into it better lol

Honestly, in-store they can call the bank to see about a CLI and as I've said on a few of these topics, almost always gets approved!

Granted it may or may not be approved because of the time in your case, you could try.

I also think the card gives plenty of benefits in the 4% cash back in Rewards if you PIF a month or even 2% in Reward Zone for the 24 mo/ 0% APR

It's not even an introductory thing it will ALWAYS have some sort of 0% option above $149.99

Re: Best Buy Card

kwinks — Tue, 19 Mar 2013 18:13:45 GMT

I would skeptical of a card that has changed who is backed by like 3 or 4 times. It is being bought out by Citigroup so it won't be backed by capital one for long. I don't think this company is going to last too much longer. Something is obviously wrong if it keeps getting handed over to another ccc.

Just my two cents. You can do as you please

Re: Best Buy Card

LS2982 — Tue, 19 Mar 2013 18:22:23 GMT

id say go for it. you can recon your initial CL when approved.

Re: Best Buy Card

angelcred10 — Tue, 19 Mar 2013 18:29:28 GMT

@kwinks wrote:
I would skeptical of a card that has changed who is backed by like 3 or 4 times. It is being bought out by Citigroup so it won't be backed by capital one for long. I don't think this company is going to last too much longer. Something is obviously wrong if it keeps getting handed over to another ccc.

Just my two cents. You can do as you please

Actually, the company is making enough money overseas to last at least 10 years even if the "American" Best Buy was bankrupt now..

Their shares are also up by $15 in the past 2 months. this shows at least an interest I'd believe?

Re: Best Buy Card

JustJen — Tue, 19 Mar 2013 18:40:58 GMT

Decisions decisions! Lol I guess another reason why I am hesitant, is in addition to getting some new appliances we're gonna have to get some new furniture (upgrading from a one bedroom) for the new place and I know I would definitely like to take advantage of a furniture store credit to get 0%, and I've got my eye on the CSP...just trying to minimize the number of inquiries.

I've even thought of just putting our Best Buy purchases on another card that I already have so that at least we get the employee discount, but then we don't get the 0%! And yes we have the cash to pay but the timing of the move didn't pan out too well so we're gonna already be paying rent essentially for two places next month, on top of a vacation that was already scheduled way last year before we decided to move...so next month will just be an unusually high spending month and would rather not add more on top of it so having the ability to pay over time would make me feel better.

Let me add this to the discussion...we're hoping to move into a house around next summer. If I do all these inquiries now will that hurt my home loan application (we want to build so lets say we would have to apply maybe beginning of 2014)? I know from other boards that during the home loan process they do not want to see any inquiries, but what about before?

Re: Best Buy Card

JustJen — Tue, 19 Mar 2013 18:42:42 GMT

BTW...can someone confirm whether or not it was one HP or three as typical for Capital One? Someone said they thought it was just one but they weren't sure.

Re: Best Buy Card

Anonymous — Tue, 19 Mar 2013 19:05:11 GMT

I was just approved for this card 2 weeks ago. it was only 1 hard pull on EQ in store. 1500CL. upon getting card in the mail I set up the online access to the account and hit the CLI button imput my income info and they gave me another 700 bringing total to 2200. the cli was a soft pull

Re: Best Buy Card

JustJen — Tue, 19 Mar 2013 19:27:21 GMT

Thanks for the info ninjamike81!

Re: Best Buy Card

vish1 — Tue, 19 Mar 2013 19:28:21 GMT

OK, here is another slightly off tip. If you have discover or can get approved for discover, you probably don't want Best Buy card. Discover has flat 5% cash back on best buy when you order online from discover site.

I always order everything online and choose store pickup. This way I get my 5% as-well-as 2% RZ points.

If your key reason to get a bestbuy card is finance, that's a different thing.