Are you among the many people who applied for a Best Buy credit card but got rejected? If so, you may be wondering what your next steps should be. Don’t worry — while it can feel discouraging not to get approved right away, there are still things you can do to improve your chances and increase your credit score. 

In this comprehensive guide, we’ll review some key tips that will help you strengthen your application and give yourself the best opportunity to receive approval in the future. Read on to learn more about how to apply for a Best Buy credit card successfully.

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What Is the Best Buy Credit Card?

If you often shop at Best Buy, consider signing up for the Citibank Best Buy Visa credit card. It has various benefits, including 5% cash back on in-store or online purchases. Plus, new cardholders can receive a whopping 10% cash back on their first day of purchases.

Another perk of the Best Buy credit card is the financing options. You can pay over time for large-ticket items and avoid the hassle of presenting the full amount right away. With no annual fee, it's a great way to get rewards for shopping at Best Buy and take advantage of convenient financing options.

Here’s a more comprehensive breakdown of the credit card.

Features

Aside from earning on premium brands such as Apple and Beats, you can enjoy perks such as flexible financing and decently high rewards. Your credit line will depend on your credit score and other application factors.

It’s important to clarify that features differ depending on the type of card you get. You can get the Best Buy credit card that only works at Best Buy (and only offers cash back on Best Buy purchases). Or, you can opt for the Citibank Best Buy Visa credit card. This is the one most people opt for, and it extends bonuses and points to purchases outside of Best Buy.

Rewards

Cash back rewards with the Best Buy Visa credit card are plentiful. However, they’re also restricted to Best Buy purchases. As long as you use the credit card to make purchases at Best Buy, you can enjoy the following:

• 10% cash back on your first day of purchases
• 5% cash back on all other purchases

The way it works is that you earn $5 in cash back for every $100 you spend at Best Buy. You can also earn a welcome bonus and other special rewards throughout the year.

What about other purchases not at Best Buy? You can still earn cash back, at least with the Citibank Visa card from Best Buy! However, it won’t be as much as when you spend at their store.

If you use the credit card to shop anywhere Visa is accepted, you can earn the following:

• 3% cash back on gas purchases
• 2% cash back on dining and takeout purchases
• 2% cash back on grocery purchases
• 1% cash back on all other purchases

Note that “limited-time bonus reward categories” are also available for you to earn points in. However, Best Buy doesn’t state what those are on their site.

Fees

There is no annual fee for either Best Buy credit card as of 2023.

Approval Odds

If you're considering applying for a Best Buy Visa credit card, your approval odds are relatively high as long as you have a good credit score. 

Remember that there are two options: the Best Buy credit card and the Best Buy Store Card, which can only be used at Best Buy. 

The Best Buy Citibank Visa credit card offers cash back on purchases and special financing options, while the Best Buy Store Card comes with financing perks but does not offer cash back rewards. 

Overall, both card options are a great way to earn rewards or finance a big-ticket item at Best Buy. Can you use your Best Buy credit card anywhere? If you opt for the credit card, yes. However, as mentioned above, the Best Buy Store Card is only valid at Best Buy.

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Best Buy Credit Card Credit Score Requirements

Interested in enjoying all of the features mentioned above? Great. We’ll walk you through how to apply for the Best Buy credit card below. However, first, it’s helpful to understand the credit score requirements.

To qualify for the Citibank Best Buy Visa credit card, you'll generally need a credit score of at least 700, corresponding to a good rating. People with good credit have a higher chance of getting approved. 

The credit score requirement for the regular Best Buy credit card is a bit lower. You may still be approved for the card with a fair credit score of 640 or better. When deciding which option to apply for, keep in mind the rewards and financing options available with each card.

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How to Apply for a Best Buy Credit Card

The easiest way to apply for the Best Buy credit card is via their online application. There, you can apply and track your application.  

If you have questions about the status of your application or other issues, we suggest contacting the Citi Credit Card Application Status Department at (888) 201-4523. 

Note that this is different from the Best Buy credit card phone number, which is 1-888-574-1301. This is the number you’ll use to do things like pay your bill once your application is approved.

Why Your Best Buy Credit Card Application Was Denied

If you thought the perks and rewards above sounded great and applied for a Best Buy credit card only to get denied, don't fret! Meeting the minimum credit requirement isn't the only factor issuers consider when approving card applications. 

Though a credit score of at least 700 is (typically) required for approval, there are other reasons why applications may get denied, such as:

• Insufficient credit history
• Low income
• Too much existing debt
• Recent delinquencies

Don't be discouraged, though. Regardless of the denial, Citibank card issuers will let you know the exact reason for your denial. If you need more information or reconsideration, call their Application Status Department at (888) 201-4523.

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Best Buy Credit Card Application Denied: Next Steps

If you receive the reason for denial and believe it isn’t fair, we suggest you first take a look at your credit report. Perhaps there is something on your credit report that is incorrect. This can often lead to a credit card application denial. For example, if you consistently make on-time payments but your credit report shows missed payments, this could cause issues with credit card applications.

If your credit report looks fine, the next step would be to work towards improving your credit score. As mentioned, Citibank should provide you with an explanation as to why your credit card application was denied. Once they do, you’ll be able to know which area of your credit score to improve.

To improve your credit score, the first step is to pay off your existing debts. This will help decrease your debt-to-credit ratio and positively impact your score. 

Additionally, make sure to make payments on time and in full as often as possible. Late payments can be detrimental to your credit score. Furthermore, try not to open too many accounts or apply for too many loans at once, as this could cause lenders to see you as a higher-risk borrower and negatively impact your score. 

Finally, taking out a secured loan or applying for a credit card with no annual fee can help improve your credit score over time, but use these wisely and responsibly. Or, you could…

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