Buy.com-Sign up for CC get $50 off 1st purchase of $51+

"New credit/debt" makes up about 10% of your credit score. The factors that go into that are opening multiple accounts in a short period and how many inquires into your credit history have been made by lenders. So, yes, in theory, opening new accounts close together can "hurt" you. But like I said, this aspect makes up a small percent of your credit score. Far, far, far more important is your payment history (do you pay on time? how many times have you been late?) and debt (how much do you currently owe to lenders?). Those two factors make up like 70% of your score.
 
[quote name='Kerig']Their instant approval process seems rediculous. I applied and got the "we will contact you by mail" notification. My sister got the same thing when she signed up last week, and she already got the mail notice:

They require:

1. A photocopy of her Social Security Card
2. A recent telephone bill.
3. A recent paycheck stub.

That's VERY intrusive and out of line for a shady credit card that can only be used almost nowhere. I can and have been approved without hassle for any major credit card including the Buy.com Visa (ironically enough).

It would have been nice to get same virtually free crap, but I think I'll stick with my GCO's over these shenanigans. (Recently completed GCO #9)

I wouldn't say stay away from this offer, but I certainly can't condone their approval methods. Snail-mail verification for an online-only account = red flags of failure.[/QUOTE]
Yeah I got the "we will contact you by mail" line as well. If I get that same notice as your sister there's no way I'm signing up for this.
 
anyone know if there's an activation fee? most (SHADY) credit cards have them as high as like $65

that's how they get ya
 
[quote name='Trenchalicious']Closing credit cards you don't use is pointless unless it has a annual fee or it's been stolen.[/quote]

There is such a thing as having too much available credit. And your score will be dinged for this. It's not a huge hit, but it does affect your score.

I know this personally. I have several credit cards. I use 2 primarily for day to day purchases and pay them off in full every month. I have 2 that are 0% interest that I carry a balance on just because they give me some cash liquidity. I have over $100,000 in available credit (not bragging, I'm probably a bit older than most here and have a longer history).

I just refinanced my house and as part of that got a copy of my credit report from the credit reporting agency that they used. My score was lower than maximum due to "Too much available credit" or something to that affect. Even with that my score was around 815 -- don't recall which agency it was and they all use a different scale, but I think the max for this one was 850.

Anyway... back on topic. If you're going to open a credit card, don't do it for a measly $50. It's not worth it. Now if they offer no interest financing over an extended period of time that's worth it. I opened my best buy card when they offered no interest financing for 3 years. I bought a home theater system that I now pay about $50 / month on, interest free, for 36 months. THAT is a smart use of credit as it lets me buy something significant, and I didn't have to shift around other assets in order to have liquid cash for the purchase.
 
I picked up two 4000 MS Points cards with this promotion. It's not a bad deal seeing as how I probably won't use it but they were very generous with my credit limit.
 
Okay I signed up for a Sony Card ($100), an Amex card (+$250), a Chase card ($125), and this Revolution ($50). I've purchased a 40 gig Playstation 3 + 5 Free Blu-Rays (which I'll sell on Ebay for $10 each), pre-order of GTA IV, DualShock 3 controller, Assassin's Creed, and Uncharted for $630, then I had a 10% off on that, so $63 off. So $630-525 =$105 - $63= $42 total. Then when I sell the blu-ray discs, I'll likely make around $8-$15 just for signing up for a bunch of credit cards and buying a PS3/bunch of video games.

:D
 
Hmm...I've heard of similar amounts to 250$ for the amex cards before, is there any stipulation on it (ie spend at least x amount of dollars on purchase etc)? I'm in college right now and have used one card for the past 3 years...but I think it's about time I get a second. I'm very fiscally responsible and I usually use my card in small amounts each month, just to keep it active. I always pay off my bills immediately, so timing is never an issue.

I'm not looking at buying a house for at least another 10 years or so, but I do want to have a good credit history for when that happens.
 
Approved for 3,000. Amount doesn't matter though as like most people, I'll use it once for the discount and never use it again.
 
[quote name='darkcecil32']Hmm...I've heard of similar amounts to 250$ for the amex cards before, is there any stipulation on it (ie spend at least x amount of dollars on purchase etc)?[/quote]

Not usually, normally its in reward points which you can cash in for the lump sum in the form of a GC (works anywhere the cc is accepted) or an airplane ticket, but most Amex cards come with an annual fee of ~40-$125 if i remember right. So if your actually looking to open a permanent line of credit and dont have a disposable income getting dinged for that yearly probably doesnt sound too attractive.
 
i was going to try this but since not everyone is guaranteed an instant approval i declined. I may try it in the future when I have less credit cards.
 
I thought about this for awhile, then went ahead with it. I think as long as your credit score is high enough, you should get approved. I got approved for 5K. Got R&C:TOD for $8.99 + tax. I don't think I'll use the card again though, as I try to stick to just this AMEX card I use as my primary card that gives cash back. Thanks OP!
 
Went through all the jazz, and got the 'contact you by mail' reply, so if I get it, I'll cancel seeing as how the only reason I applied was for the free $50.
 
i pre-ordered GTA 4 with this but have yet to receive the card from Revolution... has anybody received the card yet?
 
I'm not sure I want to go for this one but has anyone tried the Buy.com Visa credit card? I have an Amazon one but this one would help me using Google Checkout more and get me $30 off.
 
[quote name='Hostile']I'm not sure I want to go for this one but has anyone tried the Buy.com Visa credit card? I have an Amazon one but this one would help me using Google Checkout more and get me $30 off.[/quote]

I use it all the time, it got me $15 off my PS3. :)
 
Something on that Revolution Card, if you really want to opt out of their info sharing, you're supposed to mail in a photocopy of the bottom portion of that page you signed. I did a screen capture and will be printing it out shortly to mail in, but really there's still no guarantee whatsoever that they'll fully comply, as is stated in the agreement.

They clearly say in the agreement that even if you opt out, they may still share info with their partners. If it became a really serious offense, I have my doubts as to how well an electronic agreement would hold up in court anyhow. Youtube supposedly becomes the copyright owner of anything you upload, according to their agreement, but let them try claiming they own the copyright to any music video or sports clip uploaded to their site.

I had no trouble whatsoever, thus far, with the Revolution card process. They instantly approved me for the 3k mark as well, at ~ 16.5 APR, which I always keep a zero balance anyhow, so whatever. I have 2 other cards with 6k and 5k limits, one of which I never use.

Curious to see my Revolution card. Not a ton of retailers take it now, but when Wal-mart signs up (and I think they will), it'll be welcome to the big leagues. Guess what, retail employees, you're getting yet another receipt to keep in a different pile at the end of the night! Fun!

Meanwhile, back at the ranch, I'm looking forward to my PS3 and all.
 
So if you don't get instant approval you don't get the 50$ off promo? What a ripoff... I just got instant approved for 6000$ on a sonycard last month. That card probably has a much lower interest rate and I can actually use it in b&m stores. I am putting this thing in the blender when I get it.
 
I didn't read all of the 5 pages on this, but I did read a lot of ignorant nonsense from the posts I did read. Your credit rating will be hurt by having several cards maxed out or near maxed out, but just having several cards isn't going to hurt your credit. I've had as many as 10 at one time, but several of those I got due to promotional offers and perks offered. You use that for the offer, then don't use it anymore. Close it if you wish to, but that isn't going to hurt your credit closing an account after using the promotion. I did the buy.com card offer twice, which gets you 30 dollars credit on your first purchase. Keeping several cards with lower amounts on them i sbetter than having one or two maxed or close to max.

I took advantage of this 50 dollar offer by applying for the Revolution card and received instant approval. I used that 50 dollar credit @buy.com and got a PSP system. I get probably 3-10 CC offers in the mail every week and I have the loan officer at my bank calling me about every 2-3 months wanting to know if I need a loan on anything to just come in and I'm pre-approved for pretty much any amount I want. If you pay your bills and don't let your card balances get out of hand you need not worry about how your credit rating may be lessened by having multiple cards or closing accounts.
 
I'm more concerned with credit inquires. My banker told me to limit them to 3 a year. I know multiple inquires are bad, but is one more going to kill me? Also, I read that inquires stick around for a year and are then removed from your credit report. Is there any truth to that?
 
You babies need to stop being worried.

Who needs credit when your young, as long as you pay the balance it will help you and not harm you.
 
[quote name='Supernova']You babies need to stop being worried.

Who needs credit when your young, as long as you pay the balance it will help you and not harm you.[/QUOTE]

*grin*

Some of us young folks with good-great credit are intending to take advantage of this buyer's housing market and purchase a second and/or third home. =)

Thus, any unnecessary hard pulls would be nice to avoid.

MIX_MASTER_ICE: Not necessarily true. Too many multiple revolving accounts does pull your credit down a little bit. How much or why is a story for another day involving funky funky equations...
 
[quote name='pwnthee']I have my doubts as to how well an electronic agreement would hold up in court anyhow. Youtube supposedly becomes the copyright owner of anything you upload, according to their agreement, but let them try claiming they own the copyright to any music video or sports clip uploaded to their site. [/quote]

Electronic documents are as good as paper in court. The reason why the Youtube agreement would fail is because the uploaders had no authority to upload the music videos or sports clip. The copyright was already in the hands of the creators of those clips. Youtube knows this. They get request all the time to remove videos and they do so. Just go looking for any WWE videos. I guarantee you if you find some, they'll be taken down not long after.
 
You must log in or register to reply here.
bread's done
Back
Top