Best Buy credit card account closed?

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Redneckmedic2012
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Best Buy credit card account closed?

Postby Redneckmedic2012 » Thu Mar 19, 2015 9:44 pm

hey all, I'm new here and was looking for an answer to a question I have and figured this was the best place to look.

Heres my situation:

last year I got a laptop at Bestbuy with the 18 month no interest financing. got approved for the credit card and got the laptop made my payments no issues. Paid the card off on time. Heres my question, after I made that final payment my account was closed and the next time I used the credit card it opened up a whole new account... now this wouldnt bother me except when i looked my credit report right after it caused my score to drop because it closed my "older account" and opened a "new" account which effected my credit history age for the negative... is that how best buy cards work? after you pay them off the completely close the account down and next time you make a purchase it opens a whole new account? if so that doesnt seem worth having that card at all....

Is this how all credit cards operate? once you pay them off they automatically close until you make a new purchase? thanks for any info guys and sorry if i posted in the wrong spot!

Thanks


Brad Bishop
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Postby Brad Bishop » Fri Mar 20, 2015 7:34 am

That is very odd and not how credit cards generally operate (first I've heard of it).

It may be worth a call to them to ask them to explain what happened.

If they can't explain it, like it was some kind of one-off in their system, then I'd pay off the account and close it. A lot of folks fret about every credit application they fill out and how it will affect their score. I'm not one of those. If, however, this is how this creditor is going to be going forward then I would worry about the adverse affects it was having and close the account.

Give them a call, though.

ingramjuan
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Postby ingramjuan » Fri Mar 20, 2015 3:12 pm

This is very strange, I hope you post the results. I purchased a laptop also and my 18 months will be up in June? I am to assume my cc will not closed as they increased my cl 5 months ago.
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Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

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Redneckmedic2012
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Postby Redneckmedic2012 » Fri Mar 20, 2015 7:27 pm

I will call monday and see if I can get some kind of explanation. To explain further to the person above, the credit card itself did not close and become unusable, the account however did close so that when I DID make a new purchase it showed up on my credit report as a "new account"

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lobbythis
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Postby lobbythis » Fri Mar 20, 2015 8:31 pm

My BB card has been fine here. No random cancellations.

takeshi
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Postby takeshi » Mon Mar 23, 2015 9:16 am

Redneckmedic2012 wrote:Is this how all credit cards operate? once you pay them off they automatically close until you make a new purchase?

Nope. Call and find out what happened.

cardcustomerservice
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Postby cardcustomerservice » Mon Mar 23, 2015 2:06 pm

Just to add my reply to the listing here: No they do not automatically close once paid off to zero balance. It could be a level of inactivity on the account, or a credit review, or you may have requested it done and forgot even. The customer service should be able to tell you an exact reason for closure, if it was noted as closed by customer, or another reason.
Customer Service Rep for a card company

Chase Slate - $8000
Chase Freedom - $5000
Hyatt Rewards (Chase) - $2000
Citi Double Cash - $1000
UPromise Mastercard (Barclay) - $1400
Best Buy Credit Card (Citi)- $1000
Kohls Credit Card (CapOne) -$500
Target RedCard (TD Bank) -$1200
Walmart Credit Card (Synchrony) - $1000
Home Design Card (Synchrony) -$2000

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otter
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Postby otter » Mon Mar 23, 2015 7:31 pm

The only thing I can think of is that Best Buy moved their accounts from Cap One to Citi, but I think that was a few years ago. I know there were people on myfico who were complaining about that same thing- some even got a HP even though they never applied for anything. I guess technically it might be a new account but if that was the case, it seems like Citi could simply accept the old account opening date ("backdate" it so to speak- which other issuers have been known to do when buying another issuer's accounts).
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

cardcustomerservice
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Postby cardcustomerservice » Tue Mar 24, 2015 9:36 am

The conversion from Cap One to Citi took place in September 2013. I have heard of both situations where some say the open date transferred over, but others have said the history was kind of lost. They should report as "closed/transfer lender" on the old Cap One's, and a new account would show up reported by Citi. However, there should be no hard pulls, as Citi did not review the accounts when they attained them for credit line changes or etc.They just took them on an "as is" basis from what Cap One had approved.

Another situation that could happen: Sometimes a person will go into Best Buy and not have their card with them on an older account, and so they type in their SSN and DOB into the register to pull it up, and key in wrong information or maybe the information on file is off by a digit, so it comes up with no open accounts. So then the associate unknowingly will encourage them to open up a new account. Then the customer ends up with two accounts by mistake.
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Chase Slate - $8000
Chase Freedom - $5000
Hyatt Rewards (Chase) - $2000
Citi Double Cash - $1000
UPromise Mastercard (Barclay) - $1400
Best Buy Credit Card (Citi)- $1000
Kohls Credit Card (CapOne) -$500
Target RedCard (TD Bank) -$1200
Walmart Credit Card (Synchrony) - $1000
Home Design Card (Synchrony) -$2000

liberate
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Postby liberate » Fri Mar 27, 2015 2:42 pm

I'm also interested in what BB CS has to say. I opened an account to finance a large purchase, paid it off, let the card sit inactive for 3-4 months, made a small purchase and paid it off, 3-4 more months of inactivity, and made another large purchase which I'm about to pay off. So this didn't happen to me after my first large purchase.
It: $19.5k
TrueEarnings: $12k
Sallie Mae: $5k
Freedom: $2.5k

Best Buy: $8k
Kohl's: $0.8k

Discover TU FICO: 754 (6/2015)
Building credit while completeing grad school. Three long years to go...



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