Best Buy Visa backed by Citi

[Anonymous]

Hello All, I have been visiting these forums for the last few months to better understand anything i may want to accomolish anything credit related. Thanks to all who have helped me along the way. I just wanted to share my experience with the Best Buy visa. I only have a 9 month credit history. So I was very hesitant to apply for this card, especially after all the information I read on here before making the trip down to the store. I really needed a TV for my living room and a new refrigerator. My thoughts were, there is no way i will get 3k, I was honesty expecting to get approved, but with a paltry limit, like 500-1,000$ lol. Well, I gave all my information to the sales associate and bam! Instant $4,500 starting credit line. Whooooohooooo! That is the highest line I have gotten this far! Absolutely elated! My profile is all lower 700's with 9 months history, that's right! All 8 of my existing trade lines are between 2-9 months old, income is $80,000. Anyone on the fence about trying for this with a similar or better profile, should definitely give it a shot. This was very easy to get what I needed, and 24 months interest free to boot!! 😊😊😊

[pipeguy]

Congrats ! Enjoy that new 60 inch TV 

Note to self, seems I got a crappy SL of $1k....

[Anonymous]

Exactly what I was expecting to happen pipe guy, for once, actually got a nice surprise! 😊

[pipeguy]

I got it more as a "reserve" special financing card (Visa Version, which I'd never carry a balance on at the stated crappy APR). I'll give it 6 months and request a CLI to 10k, if I don't get $5k I might cancel it, since I really don't need it.

I'm retiring in 2 years and expect to spend the better part of $50k to remodel/update my house with new kitchen, bathrooms and flooring (maybe windows). Right now I'm building credit lines to "float" those costs between 0% and low APR short term loans through Home Depot (current $35k) Lowes (current $30k) and the Best Buy card (hopefully $10k or more). The idea is to have all the work done and then sell the house well before any payments are due or only minor monthly payments, then pay the cards off when the house settles. I currently have about $170k in equity in the house, but "move in ready" will sell the house quickly and hopefully for more $$$. I've already been shopping for a new home when we move to South Carolina - should be able to pay cash for it with just the equity I have in this house, it's amazing the difference in housing cost between metro DC (NoVa) and SC. 

So the Best Buy Visa is more or less a long term project to take advantage of interest free fiancing for new kitchen appliances for the remodel.  I have BlisPay right now, $15k between the wife and mine, which I could use instead of the Best Buy, but we'll see if it grows as expected - that's the plan at least. 

[AverageJoesCredit]

Outstanding sl with bb!. I see most starting off at 2,000, myself included so you should be able to get that high within a year. ENJOY your approval

[grillandwinemaster]

---

@pipeguy wrote:

I got it more as a "reserve" special financing card (Visa Version, which I'd never carry a balance on at the stated crappy APR). I'll give it 6 months and request a CLI to 10k, if I don't get $5k I might cancel it, since I really don't need it.

I'm retiring in 2 years and expect to spend the better part of $50k to remodel/update my house with new kitchen, bathrooms and flooring (maybe windows). Right now I'm building credit lines to "float" those costs between 0% and low APR short term loans through Home Depot (current $35k) Lowes (current $30k) and the Best Buy card (hopefully $10k or more). The idea is to have all the work done and then sell the house well before any payments are due or only minor monthly payments, then pay the cards off when the house settles. I currently have about $170k in equity in the house, but "move in ready" will sell the house quickly and hopefully for more $$$. I've already been shopping for a new home when we move to South Carolina - should be able to pay cash for it with just the equity I have in this house, it's amazing the difference in housing cost between metro DC (NoVa) and SC. 

So the Best Buy Visa is more or less a long term project to take advantage of interest free fiancing for new kitchen appliances for the remodel.  I have BlisPay right now, $15k between the wife and mine, which I could use instead of the Best Buy, but we'll see if it grows as expected - that's the plan at least. 

---

Hey Pipe Guy, exciting times for you indeed! Nice plan, hope it all works out great for you.

[grillandwinemaster]

Congrats OP! 

I don't think citi would take me.  

So you fit both TV and New refrigerator?

Congrats again!

[Anonymous]

Congrats!

[Anonymous]

Thanks all! Yes g&w master, was more than enough to get the fridge and the TV. Even had space left to be at lower utilization. 😊

[Dawggie14]

Nicely done and congratulations! A Best Buy approval would prove extremely hazardous to my wallet, i'm afraid - all those tempting gadgets! Out of curiosity, did Citi double pull you on this card?