There’s no publicly disclosed minimum Best Buy® Credit Card limit. Your limit is based on both your yearly income and your credit standing, and you’ll be notified of the amount when you get your card. And that’s true for both the Best Buy® Credit Card and the Best Buy® Store Card.
While you won’t know your Best Buy® Credit Card credit limit ahead of time, there are a few pieces of information that can help you estimate what it could be. I’ll go into them below.
Here’s what you should know about Best Buy® Credit Card limits:
Your limit will be based on your income and credit history, and you’ll find out what it is when you get your card.
Your credit score will play an important part in the credit limit decision. The Best Buy® Store Card requires fair credit, and the Best Buy® Credit Card requires good credit.
There are reports online of people receiving limits of $7,500 and $2,500 for the Best Buy® Store Card and $2,000 for the Best Buy® Store Card. You shouldn’t expect to get a higher limit with the store card, though.
Whatever your Best Buy® Credit Card limit ends up being, it’s best for your credit score if you use only 30%-40% of it. And if you need to spend a significant amount, paying the balance as soon as possible is always a good idea.
Your Best Buy® Credit Card approval odds are pretty good as long as your credit score is at least fair. There are actually two Best Buy credit cards, the Best Buy® Credit Card and the Best Buy® Store Card that you can only use at Best Buy. Your odds of Best Buy® Credit Card approval will only be good if your credit score is at least good. But if you don’t get that version, you’ll be automatically considered for the Best Buy® Store Card, which requires fair credit. But there’s more to Best Buy® Credit Card approval than just your credit score.… read full answer
Here are the Best Buy credit card approval requirements:
Credit score: fair for the store card, good for the Visa.
Age: 18+ years old (21 in Puerto Rico).
Mailing address. Must be located in the U.S.
Social Security Number. You need an SSN to apply and can’t substitute an ITIN.
Income. The amount of money you make factors heavily into approval.
Be sure to check your credit score before applying. If it’s below 640, take time to improve your score first. Even a month can make a big difference. But if it’s more than a minor fix, you might want to put a deposit on a secured credit card and use that for credit rebuilding purposes until you get into the fair credit range.
There are two ways to request a Best Buy credit limit increase, online and by phone. You can’t get more than one Best Buy credit limit increase per six months. If you’re denied, you can apply again without waiting. But unless your circumstances have changed, it probably won’t work.
You could receive an automatic limit increase when Citi reviews your file every six months. If this happens, you’ll see a notification when you log into your account. In order to get an increase automatically or by request, you must consistently pay your bill on time while actually making purchases with your card.… read full answer
There are a few more important details, too. So, I’ll walk you through the process below.
Here’s how to request a Best Buy credit limit increase online:
Select “Card Services” and then “Credit Limit Increase.”
Provide the required financial information (such as income) and hit next. You’ll be told how much you qualify for in a few seconds.
If you’re offered a higher limit, you’ll have the option to either accept it or request a larger amount. If you request a bigger increase, Citi will do a hard pull on your credit, which will temporarily hurt your score.
Here’s how to request a Best Buy credit limit increase by phone:
Call the number on the back of your card.
Enter your card number and ask to speak with a representative.
Ask for a higher limit and explain why you deserve it.
Give the representative information about your income and any other financial details they request.
You could use a Best Buy credit limit increase to make bigger purchases. But consider keeping your spending the same and decreasing your credit utilization ratio instead. Credit utilization is part of your credit score, so improvements there should lead to a higher score.
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