@FormerCollegeDJ wrote:RE: Lack of Best Buy credit card use
Just to add to the comments already made, I have the Citi Best Buy Visa card and just went 10 months (late March 2021 to late January 2022) without using the card. On top of that, I haven't activated the newer cards Citi has sent me; I'm still using an older card that hasn't reached its expiration date*. Despite that, I had no issues making two recent purchases (one at Best Buy, one outside of Best Buy) on the card.
The big negative with Best Buy credit cards IMO is rewards are in the form of Best Buy gift certificates, which can only be used at Best Buy and expire after about 60 days. If you shop often at Best Buy, that's not an issue, but if you infrequently shop there, that can be a hassle. The reward rates on the card are good (5% rewards for Best Buy purchases, and if you have the Visa version, decent rewards rates on other purchases, particularly 3% on gas purchases), though you can ONLY get either rewards on purchases OR longer term (usually 6 months) no interest financing, not both.
*Side note: I've never understood why some credit card issuers/co-branded retailers want to send new cards when I haven't requested a new card and the current card is months or years from reaching its expiration date. I guess they do so to encourage people to use the card(s).
Great points. To add to your middle paragraph, you get points banking with Elite or Elite Plus status ($1500 and $3500 annual spending at Best Buy) with the My Best Buy program so you can let the points pile up or just sit there before issuing yourself a certificate. Elite Plus also earns 6% rather than 5% on purchases with the card. As you stated, it's going to be more beneficial for a frequent Best Buy shopper, but that can also be useful for an infrequent shopper making large purchases like computers or appliances.
@Reviewers wrote:@bigseegar There is nothing mean or rude about your comment. I notified them prior to surgery because I was in a predicament that caused me not to make the payment at the time. I did a dispute/goodwill and was denied and sent a 100 page pamphlet explaining why it was denied which is a joke (talking about the 100 pages) I understand that was my fault but some leniency would be nice. Especially if the card has been opened for over ten years and has never missed a late payment. Missing two payments shouldn't CLOSE out a account, late payments and reporting to credit bureaus makes sense.
My brothers situation doesn't make any sense at all though. Why close out a account that has been used for thousands every other month with 0 lates just for a few month inactvity (I'm talking like 3-4 months)
I agree for sure after 10 years with perfect payments it looks like they would have worked with you for sure.
@K-in-Boston wrote:.......
Paying the balance prior to statement balance won't show any usage on your reports, so it's the same as not using it at all in that respect other than not risking the card being closed for inactivity.
........
I'm not so sure about that. As I recall, the full credit reports contain enough information from which it is clear whether or not there was activity. It reports the balance and the actual amounts paid, and other data from which the presence or absence of activity can be seen.
@SouthJamaica wrote:
@K-in-Boston wrote:.......
Paying the balance prior to statement balance won't show any usage on your reports, so it's the same as not using it at all in that respect other than not risking the card being closed for inactivity.
........I'm not so sure about that. As I recall, the full credit reports contain enough information from which it is clear whether or not there was activity. It reports the balance and the actual amounts paid, and other data from which the presence or absence of activity can be seen.
As the data is not used in scoring, additional information like that varies by lender. Some will update the High Balance column if it is exceeded during the statement cycle. Some report payment amounts made. Many do neither, including the CBNA retail division. They solely report balance, past due amount, scheduled payment amount ($0 if there was no balance due), credit limit, and account status. If there is mid-cycle activity with a CBNA account and a payment is made prior to statement closing, credit report data is exactly the same as if the card were never used.
The additional reporting being supplied by only a small number of lenders is a primary reason why FICO 10 and other trended data algorithms are unlikely to be in wide use any time soon.
Edit: Looking at my reports, the lenders I have accounts with that are supplying "Amount Paid" column data are BECU, NASA FCU, NFCU, PenFed, US Bank, FNBO, Synchrony, Comenity, TD Bank, and CapOne. Amex, Bank of America, Chase, Citi, Discover, and both of Citi's retail divisions (CBNA and DSNB) do not supply this information.