We generally only recommend Hhgregg Reward Card if you have at least a 630 credit score (otherwise known as a "fair" credit score). The reason being you can get a relatively high APR if you have a low credit score, plus it will be much harder to get approved.
Is Hhgregg Reward Card a good credit card for me?
Every situation is different, so it's hard to give a blanket recommendation on whether or not Hhgregg Reward Card is the right card for you.
However, they are known to be relatively generous with their reward points & other perks, so it may be worth it. Keep in mind you may have to acquire a minimum amount of points before you are able to redeem them.
Is Hhgregg Reward Card worth it?
There are 100s of different credit card options that are best suited to a wide range of situations. Which makes it hard for us to honestly answer whether or not Hhgregg Reward Card is worth it for you.
We recommend considering the following when looking into getting any credit card (as a starting point at least):
- Are you a responsible spender? You can quickly get yourself into too much debt if you're not responsible with your credit card
- Are there are signup bonuses available with this card?
- What annual fees does it have?
- Are there penalty APRs?
- Does it have an interest free period, and if so, how long is it?
- How does it's APR compare to other cards?
- How does the rewards/points system work?
What are the approval odds for Hhgregg Reward Card?
The approval odds are going to be heavily dependant on your credit score, income & expenses.
If you have a credit score of 750+, you can basically get approved for most credit cards, including the Hhgregg Reward Card. But if you have a "poor" credit score, it's going to be a lot more difficult.
What credit score do I need for Hhgregg Reward Card?
A general rule of thumb is if you have a "good" credit score (670-739) or above, then you're approval odds are relatively high.
Anything below that and the odds go down, you may be able to get approved with a "fair" credit score, but if you have a "poor" score, then it is extremely unlikely you'll be approved (unless the card is secured).
Improve your credit score BEFORE applying for Hhgregg Reward Card
If your credit score is preventing you from qualifying for Hhgregg Reward Card, we recommend you call one of our friendly credit experts for a free consultation. We'll review your credit report with you (in real-time), and see if there is anything we can do to help your score.
Once we've improved your score for you, you'll be in a much better place to apply & get approval for Hhgregg Reward Card. Not to mention all the other benefits that come with a great credit score!
How to Use Hhgregg Reward Card Effectively
Here are several ways to maximize the rewards benefits of the Hhgregg Reward Card. One way is to use it for purchases at Hhgregg stores or online to earn reward points. You can also sign up for the Hhgregg Rewards program or make purchases during promotional periods to earn bonus points. Once you've accumulated enough points, you can redeem them for discounts, gift cards, or cashback.
To avoid interest fees and late payment penalties, it's essential to pay your balance on time and in full each month. If that's not possible, consider making more than the minimum payment to avoid high-interest fees. Additionally, keeping track of your spending can help you avoid accumulating too much debt and harming your credit score.
Lastly, using the Hhgregg Reward Card can be beneficial for large purchases since it offers financing options with interest-free periods. This can help you make significant purchases and pay them off over time without incurring interest charges.
How to Build Credit with Hhgregg Reward Card
Using the Hhgregg Reward Card responsibly can improve your credit score gradually. Payment history is a significant factor in determining your credit score, so making on-time payments is crucial. You can avoid missed payments by setting up automatic payments or reminders.
Credit utilization rate also impacts your credit score, accounting for 30% of it. Keeping your balance below 30% of your credit limit can prevent negative impacts on your credit score.
Monitoring your progress and checking your free annual credit report at AnnualCreditReport.com is essential. Even using the card for small purchases and paying off the balance each month can help build positive credit history.
If you don't use the card regularly, keeping the account open and making occasional purchases can still benefit you. It demonstrates responsible credit management and improves your credit score over time.