Best Buy doing no interest until 2008 for the next 4 days

[Kodiak33]

Re: Best Buy doing no interest until 2008 for the next 4 days

man i wish my best buy card wasn't smashed out. i'd be all over the 360 and nba 2k6.

< < goes to buy a scratch-off lottery ticket. :y4:

Is there a limit on the card? I have pretty good credit...

[bigeastbumrush]

Re: Best Buy doing no interest until 2008 for the next 4 days

Is there a limit on the card? I have pretty good credit...

Yes, there is a limit on Best Buy cards based on your credit history. I have excellent credit and they haven't raised my line yet (over 3 years).

[jdros13]

Re: Best Buy doing no interest until 2008 for the next 4 days

The reason I ask is because it seems odd that they would be running people's credit report for a $400 XBox while 300 people are standing in line. FYI, I know a little bit about credit seeing that I'm a Commercial Loan Officer for a large bank. You have to get permission to run a person's credit report and I doubt anyone at Best Buy knows how to read a credit report. Additionally, a credit report doesn't tell how much a person earns, so it's not a good indicator of paying ability. Someone could have great credit and only make $15K a year. Thanks for your sarcasm though.

Well, "Mr. Commercial Loan Officer" you probably realize that it only takes a phone call to find out your FICO score, and they then have a sliding scale that determines your if you get credit and for how much.

For loans like this they don't really care how much you make because they have no way of verifying it. It is all done off your score. You can actually buy a house like that. You can secure a "no-doc" loan by just going to your local bank or mortgage lender, where they look at your FICO score and determine if you are credit worthy. They will then assign you a limit based on that credit score and it is up to you to set your own personal spending limit below what they approve you for. You will pay a higher interest rate (roughly .5 of a point in my case) but you can secure a bigger loan. If you are relocating and only one person has already secured a job (like in my case) it allows you to get a loan for the amount you can actually afford when your spouse is also working...It also is good for those who don't want to report where there income comes from...Hell they told me I could get a loan up to $1 Million for a house, and I can't really afford more than a $450K home (and that is a stretch).

Of course working at a bank you probably already know that...

Anyway, that is a great deal at Best Buy!

[NoleFan]

Re: Best Buy doing no interest until 2008 for the next 4 days

Yes, there is a limit on Best Buy cards based on your credit history. I have excellent credit and they haven't raised my line yet (over 3 years).

they raised my limit by 200 bucks without even informing me. it's okay though. now that i've got a consistent work schedule going toward a career position i should be able to pay it off.

[thejake]

Re: Best Buy doing no interest until 2008 for the next 4 days

I walked in and bought this tv today...

Samsung DLP

I asked for $3500 credit and they gave it to me.

[Sully]

Re: Best Buy doing no interest until 2008 for the next 4 days

I walked in and bought this tv today...

Samsung DLP

I asked for $3500 credit and they gave it to me.

Sweet!
Samsungs are highly recommended.

[devilsjaw]

Re: Best Buy doing no interest until 2008 for the next 4 days

Yeah, Best Buy is always flip-flopping with these no-interest deals. I'd keep an eye on Circuit City too. They usually run the same deal right after Best Buy does. I purchased a 52" Mitsu back in May, with 18 months no interest. If I had waited a week, I would have received 2 years.

I bought my 42" Panny from CC in May, I asked for the 24 months no interest and they gave it to me! Their website said 24 month, while in store they were promoting the 18 month deal. Sneaky bastards!

[Kashanova]

Re: Best Buy doing no interest until 2008 for the next 4 days

Am i the only guy who pays straight kash

[bigeastbumrush]

Re: Best Buy doing no interest until 2008 for the next 4 days

I asked for $3500 credit and they gave it to me.

WTF?!?

Nice TV by the way.

Am i the only guy who pays straight kash

Yep.

Credit is good for you......if you know how to use it.

[thejake]

Re: Best Buy doing no interest until 2008 for the next 4 days

Sweet!
Samsungs are highly recommended.

For some reason the 56inch was the same price as the 50inch. $2499 in store. So I did what any self respecting guy would do; go with the bigger one.

[TheMatrix31]

Re: Best Buy doing no interest until 2008 for the next 4 days

Another great time is New Year's Day. Circuit City and Good Guys have AMAZING deals.

[t_diddy]

Re: Best Buy doing no interest until 2008 for the next 4 days

Well, "Mr. Commercial Loan Officer" you probably realize that it only takes a phone call to find out your FICO score, and they then have a sliding scale that determines your if you get credit and for how much.

For loans like this they don't really care how much you make because they have no way of verifying it. It is all done off your score. You can actually buy a house like that. You can secure a "no-doc" loan by just going to your local bank or mortgage lender, where they look at your FICO score and determine if you are credit worthy. They will then assign you a limit based on that credit score and it is up to you to set your own personal spending limit below what they approve you for. You will pay a higher interest rate (roughly .5 of a point in my case) but you can secure a bigger loan. If you are relocating and only one person has already secured a job (like in my case) it allows you to get a loan for the amount you can actually afford when your spouse is also working...It also is good for those who don't want to report where there income comes from...Hell they told me I could get a loan up to $1 Million for a house, and I can't really afford more than a $450K home (and that is a stretch).

Of course working at a bank you probably already know that...

Anyway, that is a great deal at Best Buy!

That's good info. I'm on the commercial side, so I didn't know that they can get your FICO score with a phone call. Maybe I'll get a 360 on credit today if they have any left.

[mjb2124]

Re: Best Buy doing no interest until 2008 for the next 4 days

Am i the only guy who pays straight kash

Nope. I pay cash for most everything.

However, large purchases - like my HDTV - I put on my Discover Card, but I always pay it off at the end of the month. Having credit is a good thing, but people need to make sure they pay it off at the end of every month.

I've never dealt with the "No interest until xxxx" thing though. I just prefer to pay it off immediately.

[buccos]

Re: Best Buy doing no interest until 2008 for the next 4 days

is this a no payment till 2008 or no additional addon interest until 2008?

IF it's like when I bought my couch.... I dont have to pay it off until 2007 at the original price i bought it at (no accumulative interest) then I might go pick one up too

[jpup]

Re: Best Buy doing no interest until 2008 for the next 4 days

is this a no payment till 2008 or no additional addon interest until 2008?

IF it's like when I bought my couch.... I dont have to pay it off until 2007 at the original price i bought it at (no accumulative interest) then I might go pick one up too

No interest at all until 2008. You are essentially using their money to buy the TV until 2008. If it's 2400 dollars then you would pay 100 dollars per month only. I'm sure that doesn't include tax, but you know what I mean.