Best Buy Card Anyone?

I was able to get a $1200 limit with a TU score in the mid-600s (I'm in Ohio). My TV had dropped dead, so I was ecstatic that I was instantly approved online. Hope this helps!

 

i got mine with 7 months of credit history. $600 limit. about 6 months later they raised me to 1000. i dont know what my score was, i think around 625

 

By the way, if you have Bankruptcy on your credit report, it's an automatic decline. I tried applying and the only reason they declined me was bankruptcy. Just thought to let you know.

 

I got one a couple weeks ago. They pulled Equi in Atl, Ga where I am and my scores were in the 700s because of disputes but anyway...got a $3600 CL.

 

The more important question should be: Why do you want a Best Buy card? They charge 20% interest.

If you can't afford to pay cash for something at Best Buy, don't finance it at 20% interest. It's a really bad financial move.

Think of it this way: If you buy a tv at Best Buy for $500, how much would it be worth if you had to immediately sell it on eBay or in the newspaper? Maybe $250.

$250 is how much the tv is really worth. So, now that we know the actual value of the item, you know what to pay for it. Look around for one on eBay, etc, and then pay cash for it. eBay (and other places) are full of brand new electronics that are selling for their real value, and not the overinflated price that Best Buy sells for.

If you financed that TV at Best Buy, and took 3-4 years to pay it off, you'd end up paying $800+ for a tv that you could have had for $250.

 

I agree with that advice! However, I think BB sometimes offers special no-interest deals. In addition, it's nice to have a couple retail cards in the mix, as long as you don't carry high balances on them. I applied for the BB card, I live in VA, they pulled EQ. I was also denied automatically for a very old bk13 (8 years old). That's the only derog on my report, and I have a score of 683. Nice guys.

 

Re: Re: Best Buy Card Anyone?

Agreed. If your goal is to use the card to improve a credit score, that's a good idea.

3-4 V/MC accounts
1-2 Retail accounts
a mortgage
a car loan

Get those, pay them on time, don't carry big balances, and don't have too many inquiries-- you'll have a high score.

 

Re: Re: Re: Best Buy Card Anyone?

WOW you must be a credit guru!

Why do you assume that Exotic does not know how to use credit properly? If his tag is accurate his scores are in the 700s.

 

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Applied for Best Buy right now. They pulled Trans Union, per my Privacy Guard report. No derogs...729 FAKO

Instantly approved.....called Household and was told my CL is $7500.00 they asked if I would I like a temp. card account number to shop online or go to Best Buy to purchase something immediately?


I said that wasn't necessary....she said I should be getting it in 7-10days.


BTW, this is the first store credit card I've ever had or been approved for. That is why I did it.

When it comes, off to the sock drawer! LOL!!


Tac

 

Re: Re: Re: Re: Best Buy Card Anyone?

Were you making a point here?

 

Re: Re: Re: Re: Re: Best Buy Card Anyone?

No, I was just being a smart ass.


And the reason behind that, you are providing elementary credit education about behavior when you have only been here a short time. Your post was obviously not meant to answer the question but expound judgment on how people should make their purchases.

 

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My post was meant to save someone a whole lot of grief (and money) in the future. Borrowing money at 20% to buy electronics is a bad idea.

This board is here to help people learn how to make good financial decisions, and to improve their credit standing. Too many "experts" here have no idea what they're talking about, and their only advice is to apply for more credit so they can get deeper into debt.

You cannot borrow your way out of debt. Getting a higher credit limit isn't the "success" that many posters here believe it is.

Saving money on purchases, not going into debt to buy things, and avoiding high interest rates -- those things are successes when it comes to financial planning.

If you want to help people with credit problems, you don't help them get more credit. First, you teach them HOW to use credit, and then WHEN to use credit.

 

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I would agree with this.

I think you are dead wrong. This board is here to help people understand credit and how it relates to each individual.

No you have no idea what the "experts" here are talking about if you assume that all the discussions given the same perspective. I have never seen anyone give the kind of advice you are implying

that's is correct

that would depend on what your goals are.

This is your opinion, and that does not make it correct and it does not mean because others have different goals they are wrong

I don't disagree with this statement. But if you want to help people you show need to show them that you care about their goals.

If you want to tell people how to manage their money and don't care what the question they asked is then you just end up sounding like a judgmental blow hard.

 

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I'm not here to make friends... Instead, I'm here to help people who ask questions about credit matters.

Go look at the message menu of this board. It's full of people who have gotten themselves into trouble because no one ever taught them how to handle their finances.

Starting with the basics is the only way they'll permanently solve their credit problems....

 

Re: Re: Re: Re: Re: Re: Re: Re: Re: Best Buy Card Anyone?

If you really wanted to help people you would answer their question directly and if you don't have the answer you would not post

 

Re: Re: Re: Re: Re: Re: Re: Re: Re: Best Buy Card Anyone?

I believe any charge off on your report will get you an automatic decline as well, but that has just been from personal experience and a few family/friend experiences.