Best Buy No Interest Credit Card -- wtf

[Josh123]

Wow that blows man. I have a Best Buy Mastercard and I use it all the time to pay my bills. I'm not sure what the interest % is on it but I pay it off every month so it's not a big deal. I think my limit is $2,500 and no annual fee, I just use it to get reward points.

 

[OILFIELDTRASH]

Yeah like you're going to carry around $3,000 in cash (and it's not like you can write out a check for anything but utilities anymore.)

There's nothing wrong with credit cards if you have the money to pay them off... I max out both of mine every month, pay them off every month, the credit card company never makes any money off of me, and I make about $3000 a year in rewards that I don' t have to claim as income.

Credit Cards are fine in my book...

Credit cards actually charge the store you buy from 3-4 % of purchase in fees so they are making money, just not off of you. Yeah it's free money though(rewards).

 

[wiredspider]

It appears the OP chose the wrong type of card. The Best Buy Card will likely have a higher credit limit.
I have a Best Buy card that I got to finance a cheap laptop, and hell no to getting an actual credit card from them. Just a simple best buy financing option, carrying a balance on the card, regardless of what type of card it is, is just not recommended, unless it's currently under 0% financing.

OP probably choose the right card, but if you do not qualify for their full product, they check if you qualify for their crappier card.

 

[hanoverphist]

lol @ applying for a retail store credit card and expecting a good deal.

bb has a rewards mastercard, not an in store card. well, they may have an in store only card, but im betting that was for their mastercard. i had a similar one, closed it out after the first year.

 

[Ausm]

LMFAO $300 limit....that's like my first CapitalOne starter card.

Hey that's like 10 blowjobs from a cheap hooker

 

[Brainonska511]

Yeah like you're going to carry around $3,000 in cash (and it's not like you can write out a check for anything but utilities anymore.)

There's nothing wrong with credit cards if you have the money to pay them off... I max out both of mine every month, pay them off every month, the credit card company never makes any money off of me, and I make about $3000 a year in rewards that I don' t have to claim as income.

Credit Cards are fine in my book...

There is nothing wrong with using credit responsibly. I'm all for it. If you read the original post, the OP stated that he saw a good deal for a tv and instead of using money towards paying down his existing debt, he wanted to get a 0% card to buy the tv with, further adding to what would need to be paid down.

 

[torpid]

If you apply for the 0% interest card with no annual fees and then they instead offer / send you a high APR card with fees, surely they have no legal ability to require you to activate/pay the fee. Only if you activate does it make sense that they could require you to pay.

 

[TechBoyJK]

Ok Guys.. What should I do?

There is NO phone number to contact this bank. Lot's of complaints about this.

I had several mailing addresses, including the main office of the Bank that I got from the FDIC. I sent them all certified letters. I didn't hear anything back, and just got my first statement, saying I have a $59 balance and minimum payment of $15 due.

I don't want my credit messed with anymore than it is. Should I continue to fight it? I have no way to contact this company except by mail. I tried their online form, and it always says "sorry, we are experiencing difficulties, please contact us by mail!"

WTF? I make about $25 an hour, so I don't want to spend more than 3 hours on this before I just say screw it, pay it and move on. I kinda want to fight it... but

 

[bl4ckfl4g]

You applied but didn't accept the card and didn't activate it and they are billing you?

 

[TechBoyJK]

yes

 

[bobdole369]

The Best Buy Reward Zone card is handled via HSBC. Any HSBC credit person can work on any of their cards. I have 2 such subprime cards - Orchard Bank, as well as this BBRZ. One call to HSBC can handle both cards.

Don't ask - Yes I use it, yes I know its horrid, no I don't carry much of a balance, but being a stupid 18 yr old leads to being 30 with shitty credit. Still. (oh and I have 18% interest on both with a $25 annual fee and I'm up to 1k on one and 500 on the other so its sorta a good shitty card) and not the only credit accounts I have.

 

[Strk]

It sounds like he clicked on the wrong one. According to BB's site, the fee is based on credit history.

 

[TechBoyJK]

Clicked on wrong what? THey have two links, one for the Best Buy Store card, and the other for the rewards Zone. I didn't click the reward zone one, yet they still sent me the card.

 

[Adrenaline]

690-720 credit score is not that good.

I disagree, it is a good credit score. People that don't make a ton of money and have accrued some debt with taking a bit to pay it off this is actually good. Not everyone can have a 750+ credit score, which would be a great score.

To the OP, cancel the card and inform them that is NOT what you applied for. Inform them the CSR was wrong, you wanted an actual BB card. If they give you issues I would go to the store.

 

[Strk]

Clicked on wrong what? THey have two links, one for the Best Buy Store card, and the other for the rewards Zone. I didn't click the reward zone one, yet they still sent me the card.

My guess is you just clicked the wrong link. It's possible the link was messed up too, but either way, just call the number on the back and explain things.

 

[TechBoyJK]

I disagree, it is a good credit score. People that don't make a ton of money and have accrued some debt with taking a bit to pay it off this is actually good. Not everyone can have a 750+ credit score, which would be a great score.

To the OP, cancel the card and inform them that is NOT what you applied for. Inform them the CSR was wrong, you wanted an actual BB card. If they give you issues I would go to the store.

Well... they are saying my first payment is due by Jan 4th. A late payment fee is like $40, and I only owe $60. If they ignore my letters, and I don't pay, they'll increase my bill even more, and file marks against my credit. And if I still don't get anywhere, my credit is damaged and I owe even more money.

I hate to say it, but should I just send in the the total due with a cancellation letter and be done with it? I hate to pay it, because I'm getting ripped off, but just like getting robbed, sometimes you're better off just giving up the $20 you got vs getting shot or hurt worse then the $20 is worth.

 

[TechBoyJK]

I disagree, it is a good credit score. People that don't make a ton of money and have accrued some debt with taking a bit to pay it off this is actually good. Not everyone can have a 750+ credit score, which would be a great score.

To the OP, cancel the card and inform them that is NOT what you applied for. Inform them the CSR was wrong, you wanted an actual BB card. If they give you issues I would go to the store.

Yea, my credit is ok.. I screwed up bad like 9 years ago, but all of the bad stuff is off my credit now and I have a pretty good history going back. I did rack up alot of debt this past year because the company I worked for tanked, and I work partly on commission, and I only made about 40% of what I made the year before. I also got into some trouble with speeding tickets and had to pay some lawyer fees. I have about $13,000 in debt in which I am steadily paying down. That and a car payment which I still have a $19,000 principle on.

 

[stag3]

The Best Buy Reward Zone card is handled via HSBC. Any HSBC credit person can work on any of their cards. I have 2 such subprime cards - Orchard Bank, as well as this BBRZ. One call to HSBC can handle both cards.

Don't ask - Yes I use it, yes I know its horrid, no I don't carry much of a balance, but being a stupid 18 yr old leads to being 30 with shitty credit. Still. (oh and I have 18% interest on both with a $25 annual fee and I'm up to 1k on one and 500 on the other so its sorta a good shitty card) and not the only credit accounts I have.

not horrid at all, college owned me hard, been there , done that.

 

[evident]

$300 limit???? $80 annual fee??? wtf? kill it with fire

 

[jtvang125]

I have their in house CC with a $3200 credit line at 17% with no annual fees. I don't think you get any rewards for using it but don't really care cause I only use it maybe once or twice a year. I'm current holding a 0 balance on it right now and was thinking of closing it but don't want the small hit to my credit score.

 

[FelixDeCat]

Just get a $300 payday loan. Much better terms.

 

[Deeko]

690-720 credit score is not that good.

Its good enough for better than THAT. Thats just an awful deal...

 

[TechBoyJK]

Yea, so the question is.. Continue to try and fight it, or just pay the $60 or whatever is the account balance (after starter fee) and include a letter stating to cancel the card, cut my losses, and move on, OR

Fight about it, try and get them to remove all marks against my credit, kill the account, etc. This puts me at risk to go late on payments, further damaging my credit, and end up owing more money.

 

[TechBoyJK]

to pay or not to pay

 

[Parasitic]

Wow, I haven't gotten a credit card with that kind of credit line ever since my first card at $18 (Sears Mastercard, $300 limit).

The way I see it, if I can afford to spend the money for the TV today without putting a dent in everything else, I don't have an issue putting it on a 0% APR card for x months. After all, $500 a year from now is worth less than $500 today in today's terms.