Best Buy offers three credit cards (in partnership with Citi), which is actually a little confusing, so be careful, especially if you have a lower credit score, because one of their cards has a $59 annual fee. (See our Best Buy credit card review here.) With three Best Buy credit cards targeting a range of customers in different credit score ranges, your chances of approval are high. But the question is: what credit score is needed for each card?
One Application, Three Possible Best Buy Credit Cards
When you apply, you’re going to be considered first for the no-annual-fee My Best Buy Visa Platinum, which can be used at Best Buy and anywhere else that Visa is accepted. To qualify for this card, you’ll probably need a 650 credit score to feel good about your approval odds, though it’s possible you’d be approved slightly below that score.
Now, if your application is denied for that card, you would then automatically be considered for one of Best Buy’s other credit cards (no need to fill out another application):
- The My Best Buy store credit card, only accepted at Best Buy. This one has no annual fee, or…
- The My Best Buy Visa Gold, which is accepted at Best Buy and anywhere else that takes Visa, BUT has a $59 annual fee that you might not want to pay!
If your credit score is above 580, you’ll probably get approved for one of these cards, but be sure to pay attention when a card is offered so you know if you’re expected to pay an annual fee. Most people with credit scores of 600 or above will probably qualify for the store-only Best Buy credit card with no annual fee. But if you’re below 600, odds are that Best Buy (or, more accurately, Citi) will offer you the Visa Gold with the annual fee. (Or you’ll be denied altogether.)
Credit Score is Not The Only Factor in Approval
Note that your credit score is not the only factor in determining your odds of being approved for a Best Buy credit card or any credit card. Factors such as income, the number of recent new card accounts opened, credit card debt ratio (debt compared to total credit lines available to you), and other measures could be looked at more closely in deciding on your application.