As with most store cards, the Best Buy Credit Card was pretty bad.
Customer service on this card is abysmal. It takes forever to get anyone on the phone, and then it doesn't seem like they even understand why you're calling, even if it is for something simple like a change of address. (The website was down and I wanted to get it done so I made the mistake of calling).
Best Buy in general just hasn't kept up with the industry and is failing because of that.
The interest rates on this card are terrible, again like most store cards. They do sometimes offer an introductory "6 months same as cash" offer to get you to open the account, but if you don't have it paid off within 6 months, the interest will be added retroactively, so be careful when signing up for any kind of offer from a store. If you are going to be buying a big ticket item and are getting a discount AND planning to pay it off immediately, then it would probably be worth it. Otherwise, save up the money and pay cash.
Not Worth it
My husband opened up one of these cards a long time ago. The interest rate was so ridiculous even though we have excellent credit. The rewards were pretty non existent and I cannot tell you how many times I had to call customer service because I would send a payment in and only a partial payment was being applied. It was odd and frustrating. Customer service was hit or miss. Some were super friendly and helpful, others acted like they were annoyed to be disrupting their day with your issues. The billing cycle was standard, and you could pay by phone, mail, or email. The promotions they would mail you were ok, but nothing special. We ended up closing our card out after a short period of time. We then had to call several times to get it to show on our credit report as closed, as every time we checked it would still be showing as open. And each time we called, customer service would tell us, oh sorry, we will close it out right now.
POOR CUSTOMER SERVICE
When I signed up for this card in the store it was to be able to have no interest on a thousand dollar flat screen plasma TV my husband "couldn't live without." The lady in the store typed in my address wrong, didn't ask me to verify it, so the card never came. I knew something was wrong, so I sent two e-mails and called. The first few times I called I was cut off. Then, someone called me back from Best Buy saying I would have to talk to HSBC. In transferring me, he also cut me off. So, I called HSBC to be cut off twice. The third time, I got through to someone who couldn't speak hardly any English (outsourcing, I assume) and who didn't talk to me like he was a human being--he was also reading from a script. He said I would have to drive to a Best Buy store to receive my acct #, which meant 22 miles from my house...thanks Best Buy, you owe me some gas money. When I got to Best Buy, I discovered that my bill payment was due and they don't accept payment in the stores. So, I went online to pay it and there discovered the error in my address--the lady typing it in didn't use the Address Line 2 and the end of the address was cut off as she had typed it---TOTAL CARELESSNESS on her part. The credit card was delivered to the apt complex where I live, but who knows which person in this place has it or was thinking of using it--including the USPS rural mail carrier. After I discovered that mistake, I called HSBC to talk to another person who didn't speak English very well and asked them to fix the error. She said I would have to have yet another credit card sent out with a new account number. It took weeks for that one to come and I have yet to receive my next bill which I was informed is due very soon (luckily I can log in online but now have a new acct # so I'm sure that's going to be a whole new pain in my you know what). In addition, in order to activate your Best Buy HSBC credit card you can't just use the usual automated systems most credit card activations use (ex. USAA's activation) but you have to go through talking to yet another person who can't speak clear English (and most likely working for $0.50 an hour). They try to sell you credit protection and/or identity theft protection EVERY TIME you speak to them on the phone even if you explain you are in a HUGE RUSH or have LIMITED CELLPHONE BATTERY and/or minutes or that you are waiting for another call and only wanted to quickly activate your card.
Needless to say, as soon as my husband pays for his beloved plasma TV, I will be cancelling this Best Buy HSBC credit card. I can't wait for that 10 minute phone call to Timbucktoo! YAY! I'm sure they hate their job as much as I hate talking to them, but I really blame the store and the bank for making them talk by a script and act like a robot. And for not supplying them with English lessons so I can understand them. I get so frustrated when I have to ask 15 times to repeat what they said. This is the reason that USAA has won best customer service awards years in a row--because you get the help you need w/o being solicited. I called for help, not to buy something else!!!
HSBC card is something to avoid
I took advantage of the 36 month no interest so I could buy a laptop. However, you must be careful to notice whether you are signing up for card insurance. I am not one of those that have been burned by them because I chose to opt out of the insurance. However, they will argue with you that you will need insurance and after a few times being persistent about cancelling the insurance they will reluctantly take it off. But if you want rembursement for the first month, you have to argue with them on that too. Also, the card will not allow you to add automatic payments so you must stay on top of the online payments if you dislike paying for stamps like I do. Their payment calendar is limited on when you can pay the card. Better make the payment at least two days before or on a weekday because weekends and less than two days before the due date is not allowed. If by chance you do forget, to avoid a late charge on your credit report you must pay an extra $15 to rush the payment. If you follow these rules the card will do what you need it to do, and that is carry your debt. But I would not trust this bank or this card for anything else and once its paid off its gone.
The Best Buy credit card is great if you understand it.
The best buy store credit card is a great credit card to have for consumers who like to take advantage of all the great no interest plans. Unlike its counterpart, Best Buy reward zone master card, the store credit card allows you to have no interest plans starting at 90 days sac all the way up to 36 mo sac no interest, depending on what's being purchased. Consumers have the potential to save loads of money on interest with these plans. With the best buy store card, minimum payments are required for promotions, but it helps cardholders to not forget about their bill. If you're paying on it monthly, cardholders are more aware of when the promotions are expiring.
This card is great for building or strengthening one's credit as long as cardholders understand how it works. Although there are great financing plans and they're are constantly being offered, interest rates are at least 20% Apr and late fees can be billed up to 39.00 depending on one's balance. However, the high interest rates and late fees can be avoided if payments are don time each month and promotions are paid in full by there expiration dates. If that formula is followed, there will be no additional fees billed to the account.
The best buy card does offer credit protection on the card if one experiences disability, involuntary unemployment, loss of life, and also if merchandise purchased on account is stolen or has any typre of property damage such as: floods, fire, vandalism, just to name a few. It is also able to make a cardholders minimum payment for 3 months each year if they get married, have a milestone birthday (30, 40, 50), move, start a new job, or having a baby. There's many great benefits with this protections and it is only $1.39 per 100.00 of your average daily balance each month. So to do the math, if your average daily balance, which can be found on your statement, is 500.00, you would be paying about 6.95 per month. This is an optional service so it is not mandatory, but if you do sign up for the service and you decide it is no longer for you, cardholders can cancel within the first 60 days of enrollment and receive a full refund of any fees billed, so there's really nothing to lose, but like I mentioned before it is optional.
Best buy also has their reward zone program where you can earn points for purchases made. For instance if you spend 250.00, you'll get a 5.00 reward certificate to use towards your next purchase. Although customers can benefit from the reward zone program without the best buy credit card, it is best to take advantage when one does have the credit card because consumers tend to spend more when they have a store charge card so why no get rewarded for it. The reward zone program doesn't have anything to do with the credit card so if a cardholder has specific questions about the reward zone program, they should contact 1-888-best-buy.
For customers who do choose to sign up for the best buy credit card do have online account access from hrsaccount.com/bestbuy (this is hsbc's online account access website, but some customers may have the card through chase bank, if so customers should go to chase.com). Cardholders are able to manage their accounts and then some on this website. One is able to make payments and schedule payments up to 12 months in advance, can view actual statements from up to 12 months prior, request a new card, change address, and request a credit line increase. The online payment process is free they just take 2 business days to process, however there is also a rush payment option if one needs there payment to arrive same day or next day and that's a 15.00 fee. Other than that it's always free if two business days are allotted for. Best buy is not currently accepting in-store payments, however some stores have what's called a ready station located in the store where payments can be made, but there is a small fee and they also takes at least 2 business days and at most 4 business days. Be sure to check your local stores to see if they have this feature.
There are several customers who will make multiple purchases on promotional plans, so one may wonder how each one gets paid. Well here it goes. First the minimum payment is satisfied first, then the rest will go to a regular purchase balance, meaning purchases not made on a promotion because they accrue finance charges monthly so system will attempt to pay that down. If one doesn't have a regular purchase balance, after minimum is satisfied, payments will go towards promotions expiring first with smaller balances. At any time a customer can call customer service to have payments re-directed if they do not like how payments were directed.
Normally bestbuy offers 18 months sac for purchases 499&up, but for the a limited time they are offering the 18 month sac plan for purchases just 249&up. Remember to be smart and customers won't have any problems with the Best Buy credit card and you can save. So get out there and open up a best buy credit card at your local store or online at bestbuy.com. Applications, if approved, are instant credit so purchases can be made same day immediately after applying. So don't wait, apply today!
It is fantastic to have 90 days to pay off a purchase.
I am writing a review for the HSBC Bank credit card for Best Buy. I have had this credit card since December and it has been fantastic. I initially got the credit card to purchase a computer for Christmas for my family. I received 18 months with zero interest at that time. Since then I have had to purchase many other items such as printer ink and paper. In addition, I had a couple of birthdays over the last few months and was able to purchase Nintendo DS and and iPOD with some iTunes cards. For each of those purchases I received 90 days with no interest. With having a tight budget, it has been nice to be able to purchase things for my family that they really want and pay it over a few months without having to pay interest. Otherwise, I would not have been able to afford the gift for my family at that time. It is also nice because they show on the statement each month when you receive it, how much interest you will have to pay if you do not pay the credit card off during the time period they specify. It is a nice way to be able to keep track and give you the incentive to pay it off in a timely manner. I love it.