Best buy store credit card: Best Buy Store Card Reviews: 590+ User Ratings

Is there an annual fee for the Best Buy Credit Card?

8

Upvotes

Bogdan Roberts, Credit Cards Moderator

@bogdan_roberts

No, there is no annual fee for the Best Buy® Credit Card. So, you don’t have to worry about paying a cent for just having it. You can keep it open with a zero balance and it will help you improve your credit score. Just remember to use it from time to time…

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How can I upgrade my Best Buy Credit Card to the Visa version?

3

Upvotes

Michael Woods

@mike_woods7

You cannot upgrade your Best Buy Credit Card to the Visa version.

If you want the Best Buy Visa card, you’ll have to submit another application. Keep in mind that this could result in a hard pull on your credit, which may lower your score for a short period…

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Where can I check my Best Buy Store Card balance?

4

Upvotes

WalletHub

@WalletHub

You can check your Best Buy Store Card balance online. You can use the same login details to check your balance on-the-go on the Citi mobile app, available both on iOS and Android. Either way, you need to sign up for online banking.

You can also check your balance…

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What’s the difference between the Best Buy Store Card and the Best Buy Credit Card?

31

Upvotes

WalletHub

@WalletHub

Between the Best Buy Store Card and the Best Buy Credit Card, the Best Buy Credit Card is the clear winner. The Best Buy store card can only be used at Best Buy, while the Best Buy credit card can be used anywhere Visa is accepted. But you only need…

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Why was my Best Buy Store Card application denied?

11

Upvotes

WalletHub

@WalletHub

It’s hard to say why your Best Buy Store Card application was denied, as meeting that minimum credit requirement does not necessarily guarantee approval.

Issuers also use different approval criteria for different cards, taking into account factors such your income and existing debt obligations, too.

With that being…

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Can I use my Best Buy Store Card instantly after approval?

10

Upvotes

WalletHub

@WalletHub

If you just got approved for the Best Buy Store Card and did not receive your card, you will not be able to use it just yet.

If you already received the card, you will be able to use it immediately after registering it. Please visit the following link to…

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What are my Best Buy Store Card approval odds?

1

Upvote

thomas friedman, WalletHub Credit Card Analyst

@tom_friedman

Your Best Buy Store Card approval odds are high if you have a credit score of 640+. This means that you need to have at least fair credit to get this card.

Having said that, it is also worth noting that a fair credit score does not guarantee approval. The issuer will…

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Share your insights and review for the Best Buy® Store Card

Most Recent

lmontgo2
December 6, 2022 • @lmontgo2

1 Star Rating

Horrible card. I paid off my account never had a balance that was to high. Paid them off they closed my account without even telling me. I called them to see why my account was closed they said because i had 2 missed payments from other accounts. Those mispayments were lost in the mail, I had gotten them straighten out. I very disappointed with best buy and Citi bank and I will never do business with them again. Don’t waste your money on this place.

Comment

Still Learning
September 16, 2021 • @Z9CLINE9

5 Star Rating

Verified Customer

Love the many 0% promotions that they run so much,I never pay interest on my purchases. Plus adding sales prices on so many different thing makes this almost a one stop shop. Have had my card 10 yrs.and still haven’t been offered to upgrade to Visa or Mastercard. Guess I should have taken it @ the start but,got .confused thinking offering was the Gold and definitely didn’t want that kind of visa. Anyway it’s great little srore card same high apr.as most retail &got 26% Enjoy just not more than you can pay off the next month when bill comes due or during the promo time….
Good Luck….NCZ

Comment

Darlissa Green
May 8, 2020 • @josine3

1 Star Rating

They closed my account due to Equifax or so they say. I have no delinquent accounts and never ever been late on anything. I contacted Equifax they sent my report which proves this and had me go online to my Equifax and create an account. I have pictures and screen shots and the report only for them to say they closed my account. This is crazy after 5yrs with this company never missed a payment if I decided to use my card and never paid out the 12-24 month period always 2-3 but they rather lose a customer than fix they error. I will not deal with this company ever again. 2020 they did me bad when I purchased a tv and now this crap. Forget everything Best Buy

Comment

ASHLEY Har
December 21, 2019 • @lady_eagle_09

2 Star Rating

It was convenient when I needed to make a large purchase at Best Buy. That’s all I’ll say for the card. Other than the zero percent interest, I never got perks from it. It charged me $2 a month when you don’t use it. I was aware of the charge when I got the card, but it’s still kind of annoying. My biggest issue is when I tried to pay the thing off. I called and made a payment over the phone and received a confirmation number for paying off the card. In addition, I got a statement 3 days later showing a $0 balance with $0 due. With the confirmation number and the balance email, I assumed I was done with the card. To preface the next part, I will take some blame for not following my account closer, but in my defense did not get another email until 37 days later saying I owed $40 on top of the amount I thought I had paid off. Granted, I had not followed my bank account close enough, and I can’t see where it was ever charged or refunded now, but I NEVER got an email saying the payment didn’t go through or that I had a statement sometime in the 37 days that I owed money. I ended up paying it off today, but there were $40 worth of interest charges building up and added to my original payoff amount. The account supervisor did take off one of the interest charges but did not take off the other. That and the convenience of the card when I actually did need it every so often is the only reason the card received 2 stars.

Comment

jafoxbody50
October 6, 2019 • @jafoxbody50

1 Star Rating

Never again. I got this store card in May 2017 1200 dollar limit. I dont use it much bought a laptop paid it off bought some other little things but rarely used it. Recently went to buy a security camera and they tell me my balance is only 100 bucks. Store staff told me i should have used it more. Customer service never said that when i signed up for it I just made all my payments on time. So hell with it 500 bucks left pay and shut it down.

Comment

ericaleigh81
November 17, 2017 • @ericaleigh81

1 Star Rating

I got a best buy store card thinking I could get a decent laptop and pay it off over time. I got socked with a $165 interest fee that they will not remove. The “deals” are a joke- the’ll get more than the original price once they hit you with the interest payments. — Don’t bother, unless you want to just give them your money. I’m closing out my card ASAP!

Comment

Saied Karoo
October 12, 2016 • @Saiedkaroo_1

1 Star Rating

Been a loyal Best Buy customer for years had a. Eat buy card for 4 years with no issues until recently. Due to an error on one of my last payments where Best Buy sent me back my payment I was charged over $700 dollars interest. I called customer service and I explained my situation and that how it was an error on there end and all they could say was sorry we can’t help you that the charges were already on your account. Honestly I can’t believe this sort injustice is practiced at Best Buy. Never again will I shop at Best Buy.

Comment

Mike Julie
January 5, 2016 • @mikej_5

3 Star Rating

The Best Buy store card is a fairly typical store card. You get 2.5 points for every dollar spent at Best Buy and redeem the points in the form of a $5 voucher for every 250 points spent. You can opt for special no interest financing and the term depends on the price. However you have to chose between special financing or points – you can’t do both.

Comment

Lily Yee
December 25, 2015 • @misslilyyyyyy

4 Star Rating

I like that with this card, one can choose 2 versions. 1 version is only good for best buy items or the other version you can use it as a regular credit card and good for anywhere. I like using it for best buy items since the store has constant promotions of interest free purchases for either 12 or 18 months. I bought a dyson vaccuum for 600ish and just pay like 50 a month. Ifind it super helpful to have when I want to buy things like fridges and washing machines. The online payment is through citi bank which is easy to use

Comment

Ian Goodwin
December 21, 2015 • @iangoodwin88

4 Star Rating

When it comes to tech gear, the blue and yellow is a great store. Better yet, it’s difficult to walk out without having spent a $1000 on a new appliance (TV, game systems, games, etc.). That being said, the deferred payments option is great. I utilize this option to collect interest on the money that I would normally use on site. It’s very nice, and as long as you remind yourself to pay on time, you won’t be hit with the high APR. If you are a frequent Best Buy shopper, you should check out this card.

Comment

Review Best Buy® Store Card

WalletHub is committed to transparency and editorial independence. The information about the following cards has been independently collected by WalletHub: Best Buy® Credit Card, Best Buy® Store Card, Best Buy® Gold Visa Credit Card, and Citi® Diamond Preferred® Visa Card

Best Buy® Store Card

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My Best Buy Store Credit Card Review – Forbes Advisor

Chauncey Crail

Chauncey CrailContributor

Chauncey grew up on a farm in rural northern California. At 18 he ran away and saw the world with a backpack and a credit card, discovering that the true value of any point or mile is the experience it facilitates. He remains most at home on a tractor, but has learned that opportunity is where he finds it and discomfort is more interesting than complacency.

Contributor

Updated: Jan 13, 2023, 2:45am

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations.

The My Best Buy Credit Card* isn’t the best choice unless you enjoy regularly making large purchases at the big box retailer, in which case it can either generate some solid rewards only redeemable at Best Buy or offer several different price-dependent financing options for those purchases.

My Best Buy Credit Card

Pros

• Solid rewards on Best Buy purchases
• No annual fee
• Potential to choose deferred interest financing option

Cons

• Store card: Only for use at Best Buy and associated stores
• Complex financing options may be difficult to understand
• No major extra benefits
• My Best Buy Points only redeemable on Best Buy purchases

Highlights

• 5% back in rewards when you choose standard credit
• Bank your rewards until you’re ready to issue a reward certificate
• No annual fee

More Highlights

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

N/A

Introduction

The My Best Buy card should not be confused with the My Best Buy Visa Card. This closed-loop, out-of-network card may only be used at Best Buy stores, on bestbuy.com or on the Best Buy mobile app, though the headlining features of the card are similar to its in-network Visa counterpart.

The card offers cardholders a choice: rewards or financing. If you choose rewards, you’ll earn 5% back in rewards when you choose standard credit.

If a cardholder chooses financing, the choices and outcomes become more complicated. The My Best Buy Card offers deferred interest financing. It’s important to understand that these offers are not the same as a typical credit card offer of 0% introductory APR on purchases, though some elements may seem similar. For example, like a 0% introductory period, interest will not be charged if the entire principal is paid off before the end of the promotional APR period. With deferred interest financing on the Best Buy Card, however, regular monthly payments are required.

Balances not paid off by the end of the promotional period accrue interest at the card’s regular purchase APR.

Compare My Best Buy Store Credit Card With Other Cards

My Best Buy Credit Card

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

N/A

Citi® Double Cash Card

Apply Now →

Apply Now

On Citi’s Website

Rates & Fees

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

N/A

Amazon Prime Rewards Visa Signature Card

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Get an Amazon gift card instantly upon approval

At a Glance

• $0 annual fee
• Earn 5% back in rewards when you choose standard credit
• Financing offers for Best Buy-only purchases

My Best Buy Card Rewards

Earning Rewards

If you choose to earn rewards instead of taking advantage of one of the special financing options available with the My Best Buy Card, the card will earn 5% back in rewards when you choose standard credit

Redeeming Rewards

Rewards may be redeemed for reward certificates and Best Buy promotional offers. For every 250 My Best Buy Points, reward redeemers will be eligible to receive a $5 reward certificate. For those reaching for a calculator, that’s an eventual redemption value of $0.02 per point used toward the certificate (the certificates have no cash value)—assuming you actually use the whole certificate.

Reward certificates may be used at Best Buy retail stores, BestBuy.com and the Best Buy mobile app, but some products, like gift cards, certain premium major home appliances and home theater products, sales tax, service charges and discounted Best Buy Business or commercial purchases or anything purchased from a non-participating store or a Best Buy Store via third-party marketplace like Amazon, Google or eBay do not qualify.

Rewards Potential

To determine the rewards potential of the My Best Buy Card we have to consider what an American household might spend on a credit card each year. Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. The 70th percentile of wage-earning households bring in $107,908 annually and we base spending on that number. Of this, we believe an avid Best Buy consumer could spend $3,500 in purchases at Best Buy.

A cardholder with $3,500 in annual purchases at Best Buy would earn 8,750 My Best Buy points from those purchases. This could be redeemed for 35 $5 reward certificates for a total of $175 to use at Best Buy.

0% Introductory Rates

Your Best Buy-only purchases must qualify for the card’s array of financing options. Merchandise type and amount spent qualify your purchase balance for deferred interest financing. The table below displays available deferred interest financing periods for purchase types and their corresponding minimum spend amounts.

Other My Best Buy Card Benefits

• Tap to Pay: Cardholders can use chip-enabled cards to avoid inserting or swiping at the cash register.

Fine Print

Interest Rates

• Regular APR: 31.24%
• Purchase Intro APR:
• Balance Transfer Intro APR: N/A

Fees

• Annual Fee: $0
• Balance Transfer Fee: Either $15 or 5% of the amount of each transfer, whichever is greater.
• Cash Advance: Either $10 or 5% of the amount of each cash advance, whichever is greater.

How the My Best Buy Card Stacks Up

My Best Buy Card vs. Citi® Double Cash Card

The Citi Double Cash earns an unlimited 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off. The card also offers a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 18.99% – 28.99%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5).

The Citi Double Cash will outearn the My Best Buy Card in terms of value earned for most account holders not focused on spending reward money only at Best Buy, but to finance purchases with this card would require using a balance transfer and ultimately might be a more complicated financial maneuver.

My Best Buy Card vs. Amazon Prime Rewards Visa Signature Card*

The Amazon Prime Rewards Visa offers much more latitude in terms of reward earning and much more clarity in terms of financing. Like the My Best Buy Card, Amazon Prime Rewards Visa offers a choice of rewards or financing. Cardholders who choose rewards earn 5% cash back in rewards at Amazon.com and Whole Foods Market with an eligible Prime membership, 5% back on Chase Travel purchases, 2% cash back at restaurants, gas stations, drugstores, and local transit and commuting and 1% on all other purchases. Get 10% back or more in bonus rewards on rotating categories and products sold on Amazon. com. This card does not offer traditional 0% introductory APR periods, however, cardholders may be eligible to choose a 0% APR period where they make equal monthly payments ranging from 6 to 18 months on qualifying purchases of $50 or more, after that a variable APR of 19.24% – 27.24% applies. A balance transfer fee of either $5 or 4% of the amount of each transfer, whichever is greater, applies.

Similar in rewards structure to the My Best Buy Card’s rewards, the Amazon Prime Rewards Visa allows cardholders to redeem points for purchases or cash. This is a major benefit over the Best Buy Credit Card.

Best Buy Credit Card vs. Costco Anywhere Visa® Card by Citi*

The Costco Anywhere Visa, like the My Best Buy Card, is issued by Citibank. Cardholders can earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year, then 1% thereafter, 3% cash back on restaurants and eligible travel purchases, 2% cash back on all other purchases from Costco and Costco. com and 1% cash back on all other purchases. A Costco membership is required to apply. The card also offers a damage and theft purchase protection benefit.

Costco sells electronics, too but the card won’t earn as much on those purchases as the My Best Buy Card would earn on electronics at Best Buy. We think the Costco Anywhere Visa will be better for most, but your spending habits and benefit preferences will determine which card will provide you with the most value.

Is the My Best Buy Card for You?

Are you a die-hard Best Buy fan who wants the latest technology all the time and plans to buy it at Best Buy? Then sure, go for it. For everyone else, we advise cards that’ll reward spending more effectively and return rewards with much more flexible redemption options.

See our list of best cash-back cards for more details.

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Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.

Chauncey grew up on a farm in rural northern California. At 18 he ran away and saw the world with a backpack and a credit card, discovering that the true value of any point or mile is the experience it facilitates. He remains most at home on a tractor, but has learned that opportunity is where he finds it and discomfort is more interesting than complacency.

The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. This compensation comes from two main sources. First, we provide paid placements to advertisers to present their offers. The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. This site does not include all companies or products available within the market. Second, we also include links to advertisers’ offers in some of our articles; these “affiliate links” may generate income for our site when you click on them. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Here is a list of our partners who offer products that we have affiliate links for.

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How to use a credit card correctly

A credit card is a convenient financial tool that will help out in many situations – for example, if important expenses are coming up, but there are no free funds at hand.

Unlike a debit card, money on a credit card belongs to the bank. This means that the spent amount must be returned within a certain time – a grace period. You can repay the debt later, but then the bank will charge you interest. Knowing the basic rules for using a credit card, you will not only avoid overpayments, but also be able to receive additional benefits – for example, thanks to cashback and discounts in partner stores.

We tell you how not to pay interest and profitably use privileges from the bank.

How to use a credit card

Pay off your debt before the end of the grace period

Almost all modern credit cards have a grace or interest-free period, during which you can use the bank’s funds for free. Paying off debt before it ends is one of the main conditions for using a credit card. Make payments on time, and the bank will not charge you interest!

In order not to miss the grace period end date, you need to understand how it works.

Let’s give an illustrative example:

The Mir credit card has a grace period of up to 55 days, which starts on the same day of the month, i. e. it is not tied to the date of the first purchase, but to the date the card was issued.

On February 13, a client of Russian Standard Bank issued a Mir credit card, and on February 18 he paid for the first purchase. To pay off the debt without interest, he has not 55 days, but 50, since the grace period is counted from the 13th.

In order to use the credit card grace period correctly, you need to remember a few simple rules:

• Keep track of the end date of the grace period – it is easy to see it in the RSB Mobile mobile bank or the RSB Online internet bank. In addition, every month we send an invoice on the card, which also indicates this date.
• If possible, transfer purchases to a more favorable date. If the grace period starts on the 13th, don’t make purchases on the 12th – it’s better to wait 1 day and the grace period will be much longer.

Connect installment plan

Installment plan is another convenient way to avoid interest on a credit card. Unlike the grace period, it allows you not to pay interest up to 24 months, and at Russian Standard Bank it can be issued not only for purchases, but also for cash withdrawals. At the same time, the amount is divided into equal payments that must be made monthly during the selected period.

Here is how the installment plan works on the example of the Mir credit card:

Make purchases in any stores and withdraw cash at any ATMs

One of the main advantages of the Mir card is the ability to connect installment plans for any purchases and withdraw cash from any ATMs in the territory of the Russian Federation.

You can get an installment plan for purchases in partner stores for up to 12 months – this option is free.

Paid connection is available in any other stores and for up to 24 months.

Connect by installments until the end of the grace period

To use the service, activate it before the end of the grace period. This can be done in a mobile application, Internet banking or by phone.

Do not limit yourself in purchases

You can transfer in installments an unlimited number of purchases within the credit limit on the Mir card – up to 300,000 ₽.

Use cashback

A cashback credit card can be very beneficial if used correctly. For example, with the Mir card, you can receive cashback in rubles on promotions from the payment system, and in points – through our RS Cashback loyalty program.

To make purchases with maximum profit, follow these simple rules:

• Follow the offers of partners.
  Russian Standard Bank partner stores offer increased cashback up to 25% for a variety of goods and services. Before buying, read the list of partners and their terms and conditions and select the appropriate option.
• Choose the best categories.
  Every three months, we offer to choose several categories, for purchases in which we give increased cashback. For example, for the “World” card, it is 5%. The more purchases in the selected categories, the greater the benefit.
• Pay with your card more often.
  To receive cashback, you need to spend at least 5000 ₽ during the bonus period. Keep track of the amount of purchases to always stay in the black.

Travel on special terms

Book hotels, buy air and train tickets on the travel.rsb.ru travel portal and get increased bonuses when paying with a Russian Standard Bank credit card.

Mir credit card

0%

Interest-free installments up to 24 months

Make purchases with the card, transfer them in installments and pay no interest:

90 029

Up to 25%

Cashback and discounts at bank partners

Offers with maximum benefit in more than 200 partner stores.

0 ₽

Card maintenance month.

3 steps to obtaining a Mir card