Best Buy Credit Card

teeder27 · ‎01-16-2015

Looking for some insight on the Best Buy credit card. My credit score is on the mend- lost a job a number of years ago, which caused some credit card late pays and charge off's, which have all been paid in full. I'm working with Lexington Law right now to get as much of it cleaned up as possible. (unless someone has a suggestion for a better firm to work with). Looking at the MyFico tracking, i'm mid 600's on all three bureaus.

I applied for a Best Buy card, and was declined. I'm curious what the minimum score needed is to get the card. I have three other cards currently, two that I've had for 5+ years and have zero balances on them right now.

Ultimately, I'm trying to get my score back over 800, where it was before I lost my job and ended up in credit card jail, if you will.

go_FICO_self · ‎01-16-2015

@teeder27 wrote:
Looking for some insight on the Best Buy credit card. My credit score is on the mend- lost a job a number of years ago, which caused some credit card late pays and charge off's, which have all been paid in full. I'm working with Lexington Law right now to get as much of it cleaned up as possible. (unless someone has a suggestion for a better firm to work with). Looking at the MyFico tracking, i'm mid 600's on all three bureaus.

I applied for a Best Buy card, and was declined. I'm curious what the minimum score needed is to get the card. I have three other cards currently, two that I've had for 5+ years and have zero balances on them right now.

Ultimately, I'm trying to get my score back over 800, where it was before I lost my job and ended up in credit card jail, if you will.

650 isn't great but might work for best buy. You might recon your denial with them. Others with experience will confirm if this is possible.

DaveInAZ · ‎01-16-2015

Best Buy cards are issued by Citibank, which isn't as forgiving of past credit problems as other banks. But 650 should be OK for the store card (which can only be used for Best Buy purchases, as opposed to the BB Mastercard which can be used like any MC/Visa). The BB Mastercard is harder to get. The store card gives you up to 5x in BB Reward Zone points for purchases in store or BestBuy.com.

Try calling their card service center 800-365-0292 and ask them to reconsider, and explain job loss and that all the lates charge offs have been paid in full (does that show on your credit report?).

Good luck.

teeder27 · ‎01-16-2015

Yes, everything shows zero balance, paid in full on my bureaus.

Strogen · ‎01-16-2015

@DaveInAZ wrote:
Best Buy cards are issued by Citibank, which isn't as forgiving of past credit problems as other banks. But 650 should be OK for the store card (which can only be used for Best Buy purchases, as opposed to the BB Mastercard which can be used like any MC/Visa). The BB Mastercard is harder to get. The store card gives you up to 5x in BB Reward Zone points for purchases in store or BestBuy.com.

Try calling their card service center 800-365-0292 and ask them to reconsider, and explain job loss and that all the lates charge offs have been paid in full (does that show on your credit report?).

Good luck.

Actually im pretty sure the mastercard is easier to get if you have below average credit. I applied for the store card but didnt qualify for it 2 years ago.

But I apparently did qualify for a rewardzone mastercard gold with a $300 credit limit. Its 1500 now, but just realize if you apply they can bump you down to an AF card like what I got.

807 TU FICO Score 8.

yfan · ‎01-16-2015

If you're showing zero balance on all cards, that might be detrimental to your score. Usually it's advised to show balance on one card at least - that doesn't mean you have to carry a balance, just let one report and pay in full by the due date.

As for the Best Buy card, why do you want it? Do you shop at Best Buy a lot or are you just trying to add to your credit portfolio? If the latter, try a more general purpose card.

Anonymous · ‎01-16-2015

I applied for it a couple of years back just after purchasing a house and they denied me for too many inquiries with a 720 score. I applied again las December and was approved for their prefered store card for 4k. I then received a letter saying they denied me for the MC version of the card with a 754 score. They pulled Experian.

DaveInAZ · ‎01-16-2015

@Strogen wrote:
@DaveInAZ wrote:
Best Buy cards are issued by Citibank, which isn't as forgiving of past credit problems as other banks. But 650 should be OK for the store card (which can only be used for Best Buy purchases, as opposed to the BB Mastercard which can be used like any MC/Visa). The BB Mastercard is harder to get. The store card gives you up to 5x in BB Reward Zone points for purchases in store or BestBuy.com.

Try calling their card service center 800-365-0292 and ask them to reconsider, and explain job loss and that all the lates charge offs have been paid in full (does that show on your credit report?).

Good luck.

Actually im pretty sure the mastercard is easier to get if you have below average credit. I applied for the store card but didnt qualify for it 2 years ago.

But I apparently did qualify for a rewardzone mastercard gold with a $300 credit limit. Its 1500 now, but just realize if you apply they can bump you down to an AF card like what I got.

Well, it's what a service rep told me. I have the RZ MC opened several years ago when it was from HSBC, and it has an AF of $59. The fee was going to hit in Nov. so I called in Oct. & asked if anyway to waive the AF; answer was no. I then asked if they could PC to a store card w/no AF, and was to No, I had to app & be approved for it. I pointed put that there's no app for just the store card, just an app shopwing both cards. Rep said yes, those who qualify get the store card and "better qualified" apps get the MC. And see Capri's post above.

I kept the MC as when I reviewed I saw I got $85 worth of RZ certs in the last year, offsetting the AF, and they approved my CLI from $1k to $2k..

undrtkr65 · ‎05-26-2015

I applied for this card and was denied so I called them and the rep told me the only reason i was denied is for too many inquiries. I called up the executive office and asked them if I could do a recon and I told the lady what the guy had told me and she said if they was the only reason she could probably approve me. she told me to wait for the letter to come in the mail and call them back. I'll give a update as soon as I find out something. My experian fico is 587 so i hope i can get it.

Anonymous · ‎05-26-2015

gl