Question: Why Did I Get Denied A Best Buy Credit Card?

Why did I get denied for my first credit card?

Your credit history is limited.

If you have just started your credit journey, chances are you don’t have a lot of proof of your creditworthiness.

This is called a “thin credit file” or “limited credit history,” and it’s a common reason for a card issuer to deny a credit card application..

Did I get approved for Best Buy card?

Most Best Buy credit card approval decisions are issued instantly. You can check your application status by calling the Best Buy Credit Card Center at 1-888-574-1301. If your application is approved, you can expect your new card to arrive by mail within 10 business days.

How long does Best Buy credit card approval take?

14 daysHow long will it take to be approved? It can take up to 14 days to receive approval for the My Best Buy® Visa® Card. Approval is decided by Citibank, not Best Buy.

Why do credit cards get denied?

Repair Your Credit Your credit card application may have been denied because you have bad credit. Unpaid collections, recent delinquencies, and high credit card balances are all things that need to be fixed before you can be approved for a credit card (or a decent one at least).

What credit score do you need to get approved for a Best Buy card?

700The store card version is for applicants with credit scores of at least 640, while the Best Buy Visa requires a minimum score of 700. There is just one application for both cards.

What credit bureau does Best Buy pull from?

Citi uses all three major credit bureaus to evaluate Best Buy Store Card applications. That doesn’t mean it will pull all three of your credit reports, though. Citi will mostly use your Experian report, with Equifax also being quite likely. In rare cases they will pull your TransUnion report instead.

What are the easiest credit cards to get approved for?

Easiest Credit Cards to Get Approved for in 2020Petal® Visa® Credit Card. … Journey® Student Rewards from Capital One® … Credit One Bank® Visa® Credit Card. … Capital One® QuicksilverOne® Cash Rewards Credit Card. … Wells Fargo Business Secured Credit Card. … Capital One® Secured Mastercard® … Fingerhut Credit Account.

Does Best Buy offer financing?

Best Buy financing is a program exclusively at Best Buy where you can make qualifying purchases at the retailer and interest is deferred for a specific period of time. You’ll need to meet certain requirements, such as a minimum purchase amount for qualifying items and the financing period can differ.

Can you use Best Buy card same day?

Paul Kessler, CFP. You can use your Best Buy credit card both in store and online before it arrives. To make purchases in a Best Buy store, you’ll need to bring your ID so Best Buy can look up your account and verify you’re authorized.

Is it hard to get approved for a Best Buy credit card?

Yes, you’re going to want a 640+ credit score for Best Buy Store Card approval. That’s in the fair credit range but not quite at the bottom of it (620), so as to give you better odds of approval. … Still, store cards like the Best Buy one aren’t beyond the average person’s reach. The average credit score is around 680.

Will applying for a Best Buy card hurt my credit?

You can apply for the Best Buy credit card without worrying that you will ruin your credit. … If you do not pay your bill on time each month, you will be reported to the major credit bureaus. This means that you will have a hit on your credit report, which will cause your score to lower.

What happens if I don’t use my best buy credit card?

Canceling a card shortens your average account age and reduces the total amount of available credit you have, which can lower your credit score. Since none of the Best Buy credit cards have annual fees, it’s probably better to just keep yours open, even if you don’t use it.

How much does a declined credit card application hurt your score?

The drop in your credit score is often insignificant and roughly 5 points. The impact decreases over time despite inquiries remaining on your credit report for two years.

How can I build my credit fast?

Steps to Improve Your Credit ScoresPay Your Bills on Time. … Get Credit for Making Utility and Cell Phone Payments on Time. … Pay off Debt and Keep Balances Low on Credit Cards and Other Revolving Credit. … Apply for and Open New Credit Accounts Only as Needed. … Don’t Close Unused Credit Cards.More items…•

Is the best buy credit card worth it?

While those first three cards can be worth it, you’d need to spend over $1,180 per year at Best Buy using the My Best Buy® Visa® Gold before your rewards outweighed the annual fee. That’s not a good deal, especially when you could probably get a credit card for bad credit with no annual fee.