Bummer on the Best Buy front

Anonymous · ‎08-21-2016

So I posted a few days ago that I had applied online for the Best Buy citi card. That was Thursday night. I got the message saying they needed to consider the application further and they would send a letter in the mail in 2 weeks.

The next morning while at work, I applied for the Citi Double Cash card and was instantly approved.

Fast forward to today, I called Best Buy card services and talked to a new account specialist. She told me my application was denied due to too many inquiries on my Equifax report.

zerofire · ‎08-21-2016

It probably happened because Citi added an inquiry when you did the DC application. Since you applied for the Best Buy and Citi DC card on diffrent days they did 2 inquiries(1 for each card). Add these to existing inquiries and you have a denial since Citi is concerned by inquiries, its a key metric for them.

TU:816 12/19/24 Bank of America--EX: 809 01/03/25 Experian--EQ:836 01/06/25 myFICO--Gardening since N/A

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thummel · ‎08-21-2016

I don't think the denial was caused by your dc inquiry. After all you did the Best Buy application first anyway. It's hard to tell but the Best Buy might just have a slightly different underwriting standard.

Anonymous · ‎08-21-2016

I'm surprised they pulled Eq. I thought they were an Ex puller. Try in store. Other people on this forum got approved in store, after they were declined online. Doesn't hurt to try.

Anonymous · ‎08-21-2016

I think its better that you got accepted for the DC instead of the Best Buy card.

Congrats!

Anonymous · ‎08-21-2016

Congrats on the DC approval. DC is better than the Citi BB card imo. But the Citi BB card is a nice card to have in your wallet also

Anonymous · ‎08-22-2016

I've seen this before. Store cards traditionally easier than bank cards… except best buy! Again, DC is a quality card to walk out of battle with.

Anonymous · ‎08-22-2016

Best Buy was my 1st card I ever got in 2005. They were stingy as heck to EVER give me a CLI, up until last year and they bumped it to $1,500 form $1k. WOO HOO! I don't understand Best Buy, or Citi they never like handing money out.

Pway · ‎08-22-2016

Best Buy and Sears seems to have very strict underwriting. These two cards are not easy to obtain, they are the toughest.

Thank you for the wealth of knowledge I have learned from these forums. I am logging off as of November 9, 2022. I wish everyone great success.

Anonymous · ‎08-23-2016

@Pway wrote:
Best Buy and Sears seems to have very strict underwriting. These two cards are not easy to obtain, they are the toughest.

I've always wondered if there was a connection between the backer of the store credit card and the store's overall success. For instance, business is booming for Amazon and Walmart (both backed by Synchrony which has easier approvals) but Best Buy and Sears are both failing (backed by Citi with higher approval standards). I hope Costco does not start losing sales because of Citi.