- Gold Member
- Posts: 30
- Joined: Wed Mar 04, 2015 1:01 pm
- Location: USA
I personally wouldn't even mess with the rewards points, as it just doesn't seem they'd add up unless you purchased an insane amount. If you are really into Best Buy making purchases all the time, and have the cash to pay off a large item in full by one billing cycle and not be charged interest, then it wouldn't hurt to take advantage of the 5% back in rewards though on that large purchase. But for most people, they're never going to see much benefit from rewards.
Also, I would not have/keep the Best Buy Gold Mastercard due to the annual fee, high interest rate, and generally low credit limits. Carefulbuilder-- yes unfortunately, it did appear on my credit report as a closed by consumer after that.
I don't see anything wrong with the store card though, and would use it only for the no interest if paid in full periods on purchases. The only way it would ever become an issue is if you don't pay them in full when you're supposed to. The bank/Best Buy has to have some sort of caveat, and to me, retroactive interest ONLY IF you don't pay when you were supposed to works better than just offering say 18 months no interest on the whole card, and then after that it starts billing, but you never have the opportunity for no interest again on that account. With the Best Buy card, you can have as many no interest purchases as you want for the life of the card.
Pretty much, if you have decent credit and other bank credit cards, it's common to be approved for a Best Buy store card at least. But if you are just starting out and can objectively look at your own credit and see it as not so good, then chances are you'd get the Gold Mastercard.
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