I was not planning to apply for a new credit account but it turned out that way. I was planining to pre-order Samsung S20 Ultra for sometime now. It has been years I bought a new phone and my current one has recent screen cracked (an excuse to get a new phone). At first I was just planning to buy a phone with some down payment of $500+taxes from $1599.99 to $1099.99 and pay directly from my checking account. However if you purchased a phone from BestBuy and not from T-Mobile or other phone stores, you cannot do that. To get a 24 months installment you have to purchase someting with $649.99?$699.99 or higher. You also have to pay with full using the the new Bestbuy credit and pay a minimum monthly installment toward that account until $0.00 within 24 months with interest free just like Lowes or RoomToGo promotion. Halfway through the talking and application, I just realized I was actually applying for a credit account choosing between store credit or visa. It took me a minute or so before I gave it a try boom:
$5000 SL from Citibank Visa
Fico Score 713 Tu, ~720 EQ
$200 credit from Samsung once I pick up the phone
Citibank closed my BestBuy store account of $1200 about five years ago (Before that it was under Capital One and GE Capital I think)
10 hp (5 from mortgage, 3 from autoloan, 2 cc) - 4 hps would be off in next 4 months.
For all your information, if you want to get a S20 ultra, get it from samsung.com since it is
- tax free -instant $200 credit you could use to buy items from Samsung website
-24 months and 36 months installment
-Unlocked Phone
The good news is $5000 credit but with a HP SP. I think it worth it but it might derailed my plan for CapitalOne CLI and PenFed Application at the end of March. I am hoping to pay off this Citibank Visa in next 5 or 6 months.
Edit: It has been more than a month since then and there is no HP from Citibank so it must be SP. Will wait until the next cycle to check again just to be sure on Apr 11th statement day.
Enjoy your new Terminator phone, er i mean high tec smart phone