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Best Buy Credit Card Review: Earn Additional 10% Returns On Your First Purchase

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By Kanu Chadha - Digital Content Editor Sep 24 2020 Share this blog

Getting your hands on the latest electronics might be tempting but certainly not affordable! Use Best Buy Credit Cards to earn an additional 10% rewards on all electronics, like appliances, smartphones, etc. Read our Best Buy Credit Card Review to explore a plethora of rewards and benefits your card has to offer.

Best Buy Credit Card Deals 2020: Top-Listed

Best Buy Credit Card Deals

Details

Validity

Save On All Categories

Up To 60% Off

Valid Through 10/31/2020

Credit Card Rewards

Save Additional 10%

Expires On 12/31/2020

Cameras & Equipment

Get Up To $600 Off

Valid Till 10/31/2020

Deal On Apple Products

Save Up To $700

Valid Through 10/31/2020

Flexible Financing

Up To 18 Months

Redeemable Till 12/25/2020

* Also check out additional Best Buy Coupons For Electronics

Best Buy Credit Card Review: Types, Rewards, & More

Best Buy Credit Card Review

Every tech geek knows that Best Buy is the ultimate stop for all your electronic needs and wants. However, as an ardent Best Buy shopper, you must also know the value of owning a Best Buy Credit Card.

Best Buy Credit Cards are part of the My Best Buy Reward program. This means, in addition to getting discounts, cardholders can earn 5% rewards with every purchase.


Types Of Best Buy Cards

1. My Best Buy Credit Card: This card is issued by CitiBank and is a “closed-loop” store card, which means it is accepted only at the Best Buy Store and website. There is no annual fee associated with this card. Users can apply for this credit card directly on the website.

2. My Best Buy Visa Card: This card is an “open-loop” card which means it can be used at any place that accepts VISA cards. In addition to the 5% rewards at Best Buy purchases, VISA cardholders can also earn rewards when shopping outside Best Buy. There are two types of Best Buy VISA cards available:

  • Best Buy VISA Gold - $59 annual fee

  • Best Buy VISA Platinum - no annual fee

Exclusive Deal: Additional 10% Returns

  • Earn additional 10% returns with your new Best Buy Credit Card.

  • Only applicable to the first purchase made with the new card.

  • Valid for in-store purchases and online orders only

  • Make payment via Best Buy Credit Card.

Best buy coupons

Here is a quick comparison between the different Best Buy Credit Cards:

Details

Best Buy Credit Card

Best Buy VISA Gold Card

Best Buy VISA Platinum Card

Annual Fee

None

$59

None

Late Payment Penalty

Up To $40

Up To $40

Up To $40

APR

25.24%

25.24%

25.24%

Minimum Interest Rate

$2

$1

$1

Flexible Financing

Yes

Yes

Yes

Limited Time Bonus Reward

No

Yes

Yes

5% Rewards On Best Buy Purchases

Yes

Yes

Yes

6% Rewards (Elite Members)

Yes

Yes

Yes

1% Rewards (Outside Best Buy)

No

Yes

Yes

2% Rewards (Dining)

No

Yes

Yes

3% Rewards (Gas Purchases))

No

Yes

Yes

* Similar Read: Bloomingdales Credit Card Discount & Review

How To Apply For Best Buy Credit Card?

Online Application:

  • Check eligibility: To apply for the Best Buy Credit Card, the applicant must be of 18 years of age (US resident) or 21 years of age (Puerto Rico) and must hold a government-issued photo ID or a social security number.

  • Sign-up Online: If you already don’t have an account at Best Buy, you can create one here by choosing a password and entering your basic details.

  • Fill out the Credit Card Application: You can either apply at the CitiBank page for the credit card application or click here. For verification and eligibility purposes, this form requires you to enter your personal, financial, and security details, like:
    - Full Name
    - Email Address
    - Home Address
    - Phone Number
    - Annual Income
    - Monthly Mortgage Or Rent Payment
    - Date Of Birth
    - Social Security Number
    - Driver's License Number Or A Government-issued Photo Identification
    - The Expiration Date Of The Photo Id

  • Select The Card Type: Select the card you want to apply after your application has been approved. While both cards offer nearly the same benefits on the Best Buy Deals, Best Buy Visa Credit Card offers rewards on other services as well. 

  • Agreement Of Fees And Interest Rates: Once you have filled all the information in the application form, you then need to agree to the Best Buy charges, interest rates, and fees. The APR might vary according to the market rate but mostly stays around 25%. The minimum interest charged is $2. Interest is charged on overdue payments. The due date for payment is at least 25 days after the end of each billing cycle. The late payment penalty is up to $40.

  • Wait For The Card To Arrive: Online approval is blazing-fast. Sometimes as quick as a couple of minutes! After that, it’s the usual 7 to 14 days of a waiting period for the card to arrive via mail. 

Best Buy Credit Card

In-store Application:

  • Visit The Nearest Best Buy Store: Don’t know the location of your nearest store? Go to the upper right corner of the bestbuy.com webpage and click on the store locator tab. Enter our Zip Code and state, and you’ll be shown a list of Best Buy stores nearest to your location.

  • Fill The Application Form: Simply enter your name, contact no, address, and basic financial information for the store to qualify your application. Since the store will manually enter your data and cross-check with online reports, this may take a little longer when compared to an application filed online.

  • Choose The Card Type: While the rewards offered are the same on both the cards, one is a VISA and the other isn’t. Before you go to the store, make sure you know what type of card you want since you will have to enter the same in the application.

Eligibility To Apply For Best Buy Credit Card

When you apply for a card, you are first reviewed for My Best Buy Visa Platinum (open-loop, no annual fee). In case you don't qualify, you are then considered for My Best Buy Credit Card (store card) and My Best Buy Visa Gold ($59 annual fee), respectively.

In order to be eligible for a Best Buy Credit Card, you need a credit score of more than 670. Best Buy Visa requires a minimum score of 700. Once the application has been filled, it takes about 7-10 days for processing i.e. review and approval of the application. 

Also Read: Bed Bath & Beyond Credit Card Deals 2020

My Best Buy Rewards & Perks

When a user signs up for a Best Buy Credit Card, they are indirectly enrolled for the My Best Buy Rewards program. Under this program, members can earn points on every purchase from the Best Buy store as well as the website. Check out the details below:


Points Earned

Elite plus

On Eligible Purchases

1% back in rewards

0.5 points per $1 spent

2% back in rewards

1 point per $1 spent

2.5% back in rewards

1.25 points per $1 spent

Using the

My Best Buy Credit Card*

5% back in rewards

2.5 points per $1 spent

5% back in rewards

2.5 points per $1 spent

6% back in rewards

3 points per $1 spent

* 250 Points will result in a $5 reward certificate.


Additional Benefits Of My Best Buy Rewards

  • My Best Buy members get free shipping on orders above $35.

  • Elite and Elite Plus members get free shipping with no minimum shopping value.

  • Free 2 day shipping and scheduled delivery is also available.

  • Earn reward points for every dollar spent on eligible purchases. 

  • Get additional returns with My Best Buy credit card payments.

  • Shop exclusive deals and discounts that are available for members only.

  • Members get early access to some of the biggest Best Buy Sales.

  • Elite Plus Members can have extended returns up to 45 days.

  • Free birthday gift for all members.

  • 24x7 exclusive customer support for members.


Flexible Financing At Best Buy 

With the My Best Buy Credit Cards, you can make use of the various financing deals available for members at Best Buy

With Flexible Financing, your interest will be deferred for a set period of time. So you can pay the full purchase balance before the promotional financing term end and you will not have to pay any interest for that purchase.

Flexible Financing At Best Buy

However, if the purchase balance is not paid in full by the deadline, then you will have to pay the interest charged on each month's balance at the Annual Percentage Rate (APR) for regular purchases.

Flexible Financing At Best Buy

Things To Remember:

  • You will have a monthly payment fee with flexible financing.

  • The entire promotional purchase balance must be paid off by the end of the defined financing term.

  • Failing to do so will result in paying off the charged monthly interest on the purchase as your card’s APR.

  • You can find your APR on your monthly statement, or on Citibank account online.

  • Available Flexible Financing Offers:

  • 12 Months On Storewide Purchases $299 And Above. 

  • 18 Months On Storewide Purchases $499 And Above. 

  • 24 Months On Storewide Purchases $999 And Above.

* Click here to check out the best deals and discounts on Electronics.

How To Pay Your Credit Card Bill?

Best buy credit card discounts

1. Online Payment 

To make the payment online, you need to login to your Best Buy account using your email ID and valid password. Now the website will guide you through a step by step process. If you are making the payment for the first time, you will need to register your Best Buy Credit Card. 


2. Payment by Mail

If you are opting to make the payment via mail, you need to send your payment along with the account number on the address mentioned below:
P.O Box 9001007, Louisville, KY 40290-1007


3. Payment by Phone

You can also opt to make the payment for Best Buy Credit Card via their automated system i.e. phone. All you need to do is, call 1-888-574-1301. Keep your account information and a cheque from your bank handy to quickly process the payment. there is no extra fee charged on making the bill payment through the phone or their automated system. 

* Make sure to check out the latest Best Buy Deals & Coupons

FAQs On Best Buy Credit Cards

How can I apply for a Best Buy Credit Card?

Users can apply for a credit card online on the Best Buy website or go to the nearest Best Buy Store. 


What credit score do you need to get a Best Buy Credit Card?

A minimum credit score of 660 is needed to get approved for a regular Best Buy Store Card.


How do I get 10% rewards with my Best Buy Credit Card?

Once your card is approved, you can earn 10% rewards on your very first store or online purchase with your Best Buy Credit Card. Make sure to pay with your credit card at the checkout point to earn your rewards.