You need a 640+ credit score to get approved for the Best Buy Store Card. That means Best Buy Store Card requires fair credit or better for approval. There are other things besides your credit score that are taken into account for Best Buy Store Card approval.
Citi uses all three major credit bureaus to evaluate Best Buy Store Card applications. That doesn't mean it will pull all three of your credit reports, though. Citi will mostly use your Experian report, with Equifax also being quite likely. In rare cases they will pull your TransUnion report instead.
Yes, the Best Buy Credit Card will do a hard pull. You will need a credit score of at least 640 to get it, which is on par with what most store cards require. There is no way to pre-qualify for the Best Buy Credit Card. A hard pull usually causes an applicant's credit score to drop by 5-10 points.
As someone with a 650 credit score, you are firmly in the “fair” territory of credit. You can usually qualify for financial products like a mortgage or car loan, but you will likely pay higher interest rates than someone with a better credit score. The "good" credit range starts at 690.
Credit Score For Walmart Credit Card
Walmart reports that you're "more likely to be approved" for their Mastercard credit card with a score of 640 or higher. There are user reports of being approved with a score as low as 600. Ensuring your revolving balances are low and that you have less than six inquiries will help.
A FICO score of 650 is considered fair—better than poor, but less than good. It falls below the national average FICO® Score of 710, and solidly within the fair score range of 580 to 669.
Unsecured Cards. Credit cards can be either secured or unsecured, though unsecured is by far the most common type. If your FICO score is 650 to 699, you will most likely get unsecured cards.
A score in the range of 750 to 850 is considered “excellent,” according to financial website NerdWallet. A score ranging from 700 to 749 is considered “good”; a score from 650 to 700 is “fair”; and a score ranging from 300 to 649 is “bad.”
It will take about six months of credit activity to establish enough history for a FICO credit score, which is used in 90% of lending decisions. 1 FICO credit scores range from 300 to 850, and a score of over 700 is considered a good credit score. Scores over 800 are considered excellent.
So, what credit score do you need for a Best Buy credit card? In general, you'll need a good credit score to be approved for the top Visa card (generally 700-749). Otherwise, you'll likely need a fair credit score (generally 660-699) to qualify for the standard Best Buy version.
On approved purchases on the My Best Buy Credit Cards issued by Citibank, N.A. Min. Payments required.
The Best Buy (BBY) credit card is issued by Citibank (C). The card is designed to encourage spending for products offered by Best Buy in stores and online. It offers 5% back in rewards for regular Best Buy members and 6% back in rewards for Elite Plus members or 12-month financing on purchases of $399 and up.
The Best Buy® Credit Card requires good credit or better (a score of 700+) for approval, while the Best Buy Store Card and Best Buy® Gold Visa Credit Card require fair credit or better (a score of 640+).
Best Buy may have a number of financing plans available. For example, Best Buy may offer a 36 month reduced rate credit plan on select products, in addition to a 12 month deferred financing offer.
Best Buy financing is best for those who plan their purchases carefully. In other words, you will budget carefully and make sure you pay off your balance within the agreed-upon timeframe to avoid interest. Otherwise, you'll need to pay the deferred interest.
FHA Loan with 650 Credit Score
FHA loans only require that you have a 580 credit score, so with a 650 FICO, you can definitely meet the credit score requirements. With a 650 credit score, you should also be offered a better interest rate than with a 580-619 FICO score.
A FICO® Score of 675 falls within a span of scores, from 670 to 739, that are categorized as Good. The average U.S. FICO® Score, 711, falls within the Good range.
A FICO® Score of 651 places you within a population of consumers whose credit may be seen as Fair. Your 651 FICO® Score is lower than the average U.S. credit score. Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.
As 680 is a good credit score, you should not be limited in your loan options. You'll likely easily qualify for most credit cards, personal loans, auto loans, lines of credit and more. Since you're not in the top range of credit scores, you'll still always want to review your loan terms.
Credit cards branded Visa Signature or Visa Infinite typically offer a starting credit limit of $5,000 or more. The Chase Sapphire Preferred® Card is a Visa Signature card, for example, and the Chase Sapphire Reserve® is a Visa Infinite card (a tier above Signature).
With a credit score of 640, for example, you may find an FHA loan can offer the best interest rate. In most areas, the FHA would limit your single-family home loan to $420,680. Meanwhile, a conventional loan could go up to $647,200 in most areas. (USDA and VA loans don't impose program-wide loan limits.)
Your score falls within the range of scores, from 580 to 669, considered Fair. A 645 FICO® Score is below the average credit score. Some lenders see consumers with scores in the Fair range as having unfavorable credit, and may decline their credit applications.
A FICO® Score of 680 falls within a span of scores, from 670 to 739, that are categorized as Good. The average U.S. FICO® Score, 711, falls within the Good range.
A FICO® Score of 655 places you within a population of consumers whose credit may be seen as Fair. Your 655 FICO® Score is lower than the average U.S. credit score. Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.