What Does Your Credit Score Need To Be To Get a Best Buy Credit Card?
June 6th, 2011 | Author: Stephanie
Shopping in Best Buy can give customers huge savings when buying consumer electronics and other peripherals. Due to the nature of its products, Best Buy customers often find it inconvenient to bring much money to buy their electronics. Fortunately, Best Buy has been offering special Best Buy credit cards that allow customers to buy with huge savings when they purchase items from its more than one thousand outlets. However, before applying for one, customers must know what the minimum credit score to get a Best Buy credit card is.
There are two types of Best Buy credit cards in use today. The first credit card is the HSBC Best Buy credit card offered by the Hongkong and Shanghai Banking Corporation. The second credit card is the official Best Buy credit card offered by the store itself. It is a good thing to note that the credit score to get a Best Buy credit card from both types can be different from each other.
The HSBC Best buy credit card, which is issued by the HSBC Bank, is intended for the personal use of consumers who have a respectable and fairly good credit history. This means that they strictly consider the credit score needed for a Best Buy card when they approve applicants. At present, HSBC normally approves applicants with a 604 credit score to get a Best Buy credit card.
There are no annual fees for the HSBC Best Buy credit card. The HSBC credit card also has a low standard Annual Percentage rate of 20.99 percent as its lowest standard.
The credit card holder can opt to get a rewardzone Best Buy credit card from HSBC, which gives 4% rebates for purchases in Best Buy and 2% rebates from dining and grocery purchases. The card holder can also get 2% rebates for special yearly promotions, as well as 1% rebates for other regular purchases.
The second type of credit card is the Best Buy credit card. Anybody can apply for this card in the store itself. This card is normally chosen by people that do not have good credit because the store does not need a good credit score to get a best buy credit card. However, though the credit score needed for a Best Buy card does not have to be high, the interest rate may still hurt the card holder.
Unlike the HSBC card, the Best Buy store card is only for use in Best Buy stores or at the official Best Buy website, bestbuy.com. There are no reward points for the card, but the card has the advantage of zero interest for up to 90 days for purchased in Best Buy.
The credit score to get a best buy credit card does not have to be very high. However, like ordinary credit cards, the credit score will also determine the interest rate for the card holder.