Best Buy is a global consumer electronics retailer. Hence, they deal with electronics, computers, appliances, cell phones, video games, and more.
However, Best Buy offers two credit card options, which can be confusing. So, you must be careful when applying for any Best Buy Credit Card as one of its cards has an annual fee of $95.
Thus, these cards are designed for some specific customers. And they require different credit scores for approval.
Having said that, this article has all the info you need about Best Buy Credit Card Approval Odds. And also the Credit Score needed for each card.
Best Buy Credit Cards
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My Best Buy Credit Card
The Best Buy Credit Card is designed mainly for frequent shoppers at Best Buy. Thus, if you don’t shop often from Best Buy, you might want to consider My Best Buy Visa Card.
This card has no annual fee and flexible financing options. However, you must have a good credit score to apply for this card.
Hence, you can earn a 5% cash back reward when you shop at Best Buy with this card.
Also, this card has a variable APR of 31.24%. And you can keep your rewards until you’re ready to redeem them.
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My Best Buy Visa Card
The Best Buy Visa Card is an open-loop credit card. Hence, this card can be accepted anywhere visa cards are accepted.
It has two credit card versions. First is the Gold version, this version comes with an annual fee of $95.
Then, the other version is the platinum version which has no annual fee.
Hence, this card offers 10% cash back rewards on your first purchases. However, to apply for this credit card you must have an excellent credit score.
Thus, you can earn 5% cash back on Best Buy purchases and 3% cash back on gas purchases.
Also, you can earn 2% cash back on dining and grocery purchases. As well as 1% cash back on daily purchases.
But, note that My Best Buy Visa Card has a variable APR of 31.24%.
One Application for Three Possible Best Buy Credit Cards
As said earlier, applying for a Best Buy Credit Card can be a bit confusing. Hence, the first thing to consider is a Best Buy Credit card with no annual fee.
Hence, My Best Buy Visa Platinum can have no annual fee and can be used anywhere visa cards are accepted.
However, you must have a credit score of 650 and above for high approval odds. Although, there is a low chance of you being approved for this card with a credit score lower than 650.
Thus, if you were denied this card, you might be considered for any other Best Buy card.
Hence, you don’t have to fill out an application letter to apply for any other Best Buy Card.
But, if you have a credit score of 580 and above, you’re sure to get approved for any Best Buy Credit Card.
All you have to do is to pay attention to details to know if your card comes with an annual fee.
But, if you have a credit score of 600 or above, you may be approved for the My Best Buy Credit card.
Whereas, if you have a credit score below 600, you may be qualified for the My Bes Buy Vis Gold card. And this card has an annual fee of $95.
Other Factors that may affect your Approval for a Best Buy Credit Card
Your credit card is not the only factor to be considered for approval of this card.
Hence, other factors may affect your approval for a Best Buy Credit Card.
Thus, these factors may include; your current debt. As well as how many credit cards you’ve opened recently.
Also, other factors may include; your credit history and your current income.
How long does it take to get approved for a Best Buy card?
Well, the approval process for a Best Buy credit card doesn’t often take much time.
Hence your application can get approved within 10 to 15 minutes.
Thus, when you submit your application, you will get notified whether or not you have been approved.
If you are approved, you will also get info on the terms and conditions of your account. As well as your credit limit and any fees or interest rates.
But, if you are not approved, you may have to apply again in the future.
Final Verdict
To sum it up, we hope this article contains every info you need on this topic.
Hence, now you have an idea of what it takes to get approved for a Best Buy Credit Card, you should apply for it.
However, if you have any questions about the Best Buy Credit Cards, leave them in the comment session.
Thank you for reading!