To everyone who is complaining and saying, " I missed ONE payment and now I owe a million dollars," you knew this before going into the plan. Deffered interest is just that, as long as you make your minimum payment every month AND pay off your entire balance before the deferred interest period is up, you won't pay a single cent. I have had their in-store card for years and never had a single issue, this new visa was just issued and works the same way plus being able to use it elsewhere. I do agree that the rewards are not great outside of the store, but then again I only use it at the store to make large purchases.
Most Helpful Positive Review
Most Helpful Negative Review
~601 real FICO scores
$500 starting limit
First the Best Buy rep didn't make it clear I wasn't getting approved for the full amount requested for a purchase in store and that I only qualified for the card with a fee. After I accepted, then they told me the SL and fee. Then the in-store rep said I could call their credit department right away or when I come back in a few days to request a higher limit for a specific purchase. After wasting time confirming info and waiting, they immediately declined. I received a letter days later stating it was too soon to request a credit limit increase. At least there was no second hard pull, but what's the point in telling people to call in? The application process was silly.
The first three times I made payments so far, they froze my funds for days (well over a week). I called in the second time, and the explanation was that it's a new card, so they put a hold because I charged up and paid it twice before the statement. Okay fine, but then they just did it again. I called today, and the rep said anytime you pay in full, they will not release any of the available credit for eight days (that's business days in my experience).
Another problem is the transaction detail and balance online doesn't seem to update quickly like all my other cards and bank accounts do these days.
Frequent Best Buy shoppers or those with poor credit may still want to check this card out. You can get good rewards for Best Buy purchases (if you want that). Plus, they approved with derogs, thin file, and very low 600s. $500 SL is not much, but it's an okay start for a rewards card even with the annual fee. Current rewards: 5% Best Buy, 3% gas and clothes (limited time), 2% dining and groceries, 1% all other. I won't let this card renew next year before the AF now that I have a Barclaycard Rewards MasterCard and a Capital One QuicksilverOne (to be upgraded to regular Quicksilver one day).
And for all those complaining about being tricked, the annual fee, unexpected interest, etc. Read the terms. It's all there just like any other card terms. Don't like the terms, don't accept it or work on getting a better card. There are many reviews that are obviously unfair toward this card even if it does have some legit downsides.
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