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Credit Score Needed For Best Buy Credit Card


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Credit Score Needed For Best Buy Credit Card


Best Buy offers three credit cards (in partnership with Citi), which is actually a little confusing, so be careful, especially if you have a lower credit score, because one of their cards has a $59 annual fee. (See our Best Buy credit card review here.) With three Best Buy credit cards targeting a range of customers in different credit score ranges, your chances of approval are high. But the question is: what credit score is needed for each card


Note that your credit score is not the only factor in determining your odds of being approved for a Best Buy credit card or any credit card. Factors such as income, the number of recent new card accounts opened, credit card debt ratio (debt compared to total credit lines available to you), and other measures could be looked at more closely in deciding on your application.


You should resist the urge to apply for more credit cards as you try to build your credit, because this puts a hard inquiry on your credit report. Too many hard inquiries can negatively affect your credit score.


We appreciate you taking the time to reach out regarding your application for the Best Buy credit card. I can understand the concern regarding the denial for that Best Buy credit card through Citibank, especially considering your stellar credit score.


Well you sales associates said I could get their card, and given the items I mentioned, and my 30 years of good credit history, it never occurred to me that I might be denied this card. I was a motivated buyer and so I visited the store twice, asked a lot of questions, and this consumed a decent amount of time of these employees. Then when I returned to buy, the sales associate needed to get the "open box" item from the back room, and talk to me about getting a mount for the tv I was buying etc. This took up more of your employees' time. So you guys had made the sale. I just needed to pay. But because you're working with Citibank, who seems entirely unable to judge credit risk, this sale and all future sales are now lost


Comparing mortgage rates from different lenders is one way to make sure you get the best mortgage rate possible. Credible can help you compare our partner lenders without hurting your credit score, and it takes just minutes.


Your FICO Score is calculated based on data from Equifax using the FICO Bankcard Score 8 model and is the same score we use, among other information, to manage your account. This model has a FICO Score range from 250 through 900.


However, there is something called, utilization. To put it simply, this refers to how much of your credit was dependent on this card. For example, if this is one of your only cards and you have a good credit line on it, when you cancel it that will shrink your credit, thereby shrinking your score.


If you are concerned about your credit score, you may want to rethink canceling the card. If your balance is paid off, there will be no interest. Also, if you have no annual fee on the card, there is really no harm in keeping the card open. If you feel like the temptation is too much, you can cut it up or give it to a trusted person to put away for you. 59ce067264






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