"Approved Grad!"

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Written by: jaybird92 on 2010-06-10

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jaybird92's review: I'm new to this, I just graduated from high school last week and I'm only 18, so I applied for the Best Buy Reward Zone MasterCard yesterday, and I was approved for a gold card w/ $100 cl & no annual fee.

Any recommendations for using this card?

10 Comments

Comment 1 by wanderer
Re: Approved Grad! on 2010-06-10

Congrats! Enjoy your new credit.
Comment 2 by colonative
Re: Approved Grad! on 2010-06-10

They gave you $100? Well you have to start somewhere. My recommendation is to never use more than $25 at a time to keep your utilization low and always pay in full. Hopefully in a few months they will bump your credit line up a bit. Congrats and use it wisely.
Comment 3 by joeyman
Re: Approved Grad! on 2010-06-11

Yes like Colo said, never allow your balance to be higher than $25.00 on the monthly statement. BestBuy will report to the major credit bureaus at the end of each month. You should have your balance paid below $25.00 by the 25th of each month, no later! This will help you scores raise and then get another card in about 6-12 months + credit increases.
Comment 4 by nckuttoomm
Re: Approved Grad! on 2010-06-11

I totally don't understand how can you use a credit card with $100 CL in Best Buy... Even you can use all 100 dollars.
Comment 5 by hjm331
Re: Approved Grad! on 2010-06-11

Congrats! Everyone has to start somewhere and it's a good card to start building credit with.

You can use it to buy lunch once a month or fill up a tank of gas. You don't need to get out of your way to keep it active.
Comment 6 by misskim26
Re: Approved Grad! on 2010-06-13

100 DOLLARS?? WOW HSBC has hit a new low (smh) what well that's about 2 cds and a dvd movie hate to rain on your parade but if I was you I would just use it too pump 10 dollars in gas between payday, cause that's as far as Bestbuy MasterCard is gonna to give you. I have had there card for almost 3 yrs and still stuck @ 300 dollars they say they not giving CLI so I don't even bother. Next time try Cap1 credit card @ least they would give you enough to fill up your gas tank without you using 90% og ur CL
Comment 7 by wanderer
Re: Approved Grad! on 2010-06-13

Reality check... Some of us after our own big credit crashes were lucky banks such as Capital One opened an account with $200 Credit Line. It took me over eight years to build HSBC MC & AX to over $7.5K and $10K CL's. Today some banks still will not issue bank credit cards after a BK Ch 7. The world requires us to pay our dues. Frankly, a $100 CL is tough to worthless but, the idea of buying small things and building is worth consideration. Also, this card does NOT grow with most people. You may want to seek a secured bank card or others bank cards that likely will start you with small CL's but will grow with you over time.
Comment 8 by d98lakefan
Re: Approved Grad! on 2010-06-13

Wow 100.00 cl really I didn't think they made them that low you are better off getting there orchard bank secured card and grow with that. That way you can make your own limit by your security deposit.
Comment 9 by d98lakefan
Re: Approved Grad! on 2010-06-13

Miss kim HSBC isn't doing any increases on any of there cards until about November they have to get there computers complaint to the new card rules which they claim they haven't done yet.
Comment 10 by jaybird92
Re: Approved Grad! on 2010-09-26

So far I'm ok with the card and my current balance is $5. I'm not going to apply for any other cards right now, because I have more then 30 inquiries. I know bad right... But yeah, hopefully by January of '11 I might be able to get a cl.
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