The Best Buy Visa Card is perfect for frequent Best Buy shoppers looking for a way to pay for technology while earning rewards on future purchases. Although this is not a traditional rewards credit card, it does have some benefits.
Here's everything you need to know about this unique retailer credit card and the alternatives you should consider.
Learn more
Potential cardholders should understand that rewards earned with the Best Buy Visa Credit Card are not offered as cash back.
Instead, this card uses a points-based system where you can earn between 1 and 2.5 points for every dollar you spend. These points are Redeemable only at Best Buy or on BestBuy.com, making it a great option for those who frequently buy electronics and technology products.
However, this isn't a good option for those looking for a more flexible rewards credit card that offers multiple ways to redeem points, such as cash back, statement credits, and travel discounts.
April
Once approved, cardholders will receive a 31.49% variable APR on purchases and balance transfers, which is at the higher end of the spectrum. This APR applies from the moment you start using the card, so it's important to consider how you'll manage your balance and payments.
Deferred interest on some purchases
Best Buy also offers cardholders financing opportunities to defer interest charges on eligible purchases. No interest will be charged if you repay your eligible purchases within the specified period.
For example, if you purchase a home theater for $999 or more, you may be eligible for up to 24 months of interest-free payments. If you repay the loan on time, no interest will be charged. However, if you still have a balance after 24 months, you will be charged the full amount of interest on your purchase.
Annual fee
This card has no annual fee, making it a cost-effective option for consumers who want to earn rewards without worrying about additional annual fees. There are no fees, so cardholders can benefit from the benefits from their first purchase.
welcome offer
The Best Buy Visa Credit Card welcome offer is only for a very short period of time, so it's not as competitive as other welcome offers. You'll get 10% back on the first day of purchase, provided the purchase date is completed within 14 days of account opening.
introductory offer
The Best Buy Visa Credit Card currently does not have an introductory 0% APR offer.
While not all rewards credit cards include these, the best credit cards usually offer some sort of competitive introductory offer.
reward rate
The Best Buy Visa credit card rewards program is designed to benefit a variety of spending categories, not just the purchase of technology products.
-
Get 5% back on purchases at Best Buy
-
3% back on gas purchases
-
Earn 2% points back on dining, takeout, and grocery purchases.
-
1% benefit everywhere else where Visa is accepted
How to earn rewards
To earn rewards with the Best Buy Visa Credit Card, earn points by using your card for everyday purchases in designated categories (gas, groceries, etc.).
There are some excluded items, Not eligible for compensationinclude:
-
Best Buy Gift Card
-
Purchases made before participating in a benefits program
-
Best Buy products purchased through third parties such as Amazon or eBay
-
Some commercial purchases
If you choose special financing with the Best Buy Visa card and defer interest charges, your Best Buy purchases will not be eligible for the 5% benefit. You can earn rewards on purchases or access specialist financing, but not both.
How to redeem benefits
Redeem points via your online “My Best Buy” account. This account also allows you to check your point balance, use your points, and view promotions.
However, just like with earning rewards, there are exceptions to how rewards can be redeemed. For example, you cannot use your rewards to pay off your Best Buy credit card, purchase gift cards, or purchase certain high-end appliances or home theater equipment.
Who is the My Best Buy Visa Card suitable for?
Given its unique perks, perks, and high APR, the Best Buy Visa Card is most useful to avid Best Buy customers who want to earn points toward future technology purchases. Cardholders should strive to pay off their Best Buy Visa cards every month. The interest that accrues takes away from the potential savings that the card offers.
If you're looking for a flexible rewards credit card, a travel credit card, or a card with a 0% APR introductory offer, another card may suit your needs better.
My Best Buy® Credit Card and My Best Buy Visa Card
My Best Buy Visa Card is the only Visa credit card offered by Best Buy.
The company also offers a My Best Buy credit card that offers more exclusive benefits. You can use both to finance your Best Buy purchases, access flexible financing options, and earn reward points when you shop at Best Buy.
However, the My Best Buy Visa card is different because it offers rewards on purchases. Outside of Best Buy (Including gas stations, restaurants, and grocery stores). My Best Buy credit cards, on the other hand, can only be used for purchases at Best Buy.
My Best Buy Visa Card Pro
-
There are no annual fees: There is no annual fee, which helps keep costs down for cardholders.
-
Opportunities for high rewards: Earn up to 5% on your purchases at Best Buy, increasing your electronics buying power.
-
Various reward categories: This includes 3% for gas, 2% for meals, takeout, and groceries, and 1% for everyday expenses.
-
10% welcome offer: Welcome offers provide an on-boarding boost to start earning rewards right away.
Cons of My Best Buy Visa Card
-
Limited redemption opportunities: Rewards cannot be redeemed for cashback and instead act as discount vouchers that can be used at Best Buy or its online store.
-
Rewards may have an expiration date. Benefit certificates have an expiration date, which adds an additional layer of control to ensure they are used in time.
-
No APR introductory offer: This means that if you don't qualify for special financing opportunities, your purchases may start accruing interest right away.
-
Maximum rewards are limited: Maximum rebate (5%) applies only to purchases at Best Buy.
Where can I use my My Best Buy Visa card?
The Best Buy Visa card can be used anywhere Visa is accepted. However, keep in mind that these offers can only be redeemed for cash at Best Buy.
How to pay with My Best Buy Visa card
Cardholders have five free options to pay their bills.
-
online using your Citibank account
-
By phone, call 1-888-574-1301. You will need your account number and bank check (US only) when calling.
-
Text “PAY” to the number 81964. You must use the phone registered to your My Best Buy online account and have a valid payment method set up. Citibank will verify your identity before receiving your desired payment amount.
-
A check will be sent from your US bank to the address listed on your statement. Account number must be included.
-
Pay at a Best Buy store location.
My Best Buy Visa Card Customer Service Information
Customer service is available in several ways.
-
For questions about your credit card account, check your Citibank account online or contact Citibank at 1-888-574-1301.
-
If you have any questions about My Best Buy benefits, please call Best Buy's Customer Care Line at 1-888-237-8289.
Alternative cards to consider
While the My Best Buy Visa Card may be a great option for Best Buy enthusiasts, some may find its benefits limited. If you're looking for other retail card options or a more flexible rewards card, check out our suggestions below.
Capital One Walmart Rewards® Mastercard®
Why I like it: If you frequently shop online at Walmart.com or Walmart stores, the Capital One Walmart Rewards Mastercard can be a great option. Walmart.com offers an impressive 5% cash back on purchases including pickup and delivery, perfect for regular Walmart shoppers. Earn 2% cash back on in-store purchases, as well as purchases at Murphy USA and Walmart fuel stations, restaurants and travel. After this, you'll earn a flat 1% cashback on all other purchases, making it a versatile card for everyday spending.
With no annual fee, this card is perfect for people who want to get the most perks on their regular shopping without any additional costs. Compared to the My Best Buy Visa, the Walmart Rewards Mastercard may offer more value for those who prioritize cash back and savings on groceries and essentials over electronics and tech products.
Instacart Mastercard®
Why I like it: For anyone looking for convenient ways to save money on groceries and travel, the Instacart Mastercard is worth a look. New cardholders will receive $100 in her Instacart credit and her 1-year free subscription to Instacart+. The card's rewards structure is also attractive, offering 5% cash back on all purchases in the Instacart app and Instacart.com, as well as travel booked through the Chase Travel Center.
2% cash back at restaurants, gas stations, some streaming services, and 1% cash back on all other purchases isn't bad either. With no annual fee, the Instacart Mastercard offers considerable value for those who want to maximize their grocery and travel perks without additional costs. Compared to My Best Buy Visa, this card is more appealing to those who spend a lot of money on groceries and travel, offering customized benefits that can increase savings and convenience in these areas. To do.
Capital One Quiksilver Cash Rewards Credit Card
Why I like it: For a more popular points card, the Capital One Quicksilver Cash Rewards Credit Card offers a generous cash back program that some retail cards don't have. Spend just $500 within the first three months and you'll receive a one-time $200 cash bonus, making it an attractive offer for those looking to quickly get value out of their card.
Unlimited 1.5% cash back on all purchases is a great rate for those who don't want to track spending in categories. Additionally, his 5% cashback on hotels and rental cars booked through Capital One Travel is beneficial for frequent travelers.
Along with a 0% initial APR on both purchases and balance transfers for 15 months, this card offers a combination of flexibility and benefits that can fit a wide range of financial needs and spending habits. Compared to the My Best Buy Visa, the Capital One Quicksilver Cash Rewards Credit Card may be more appealing to those looking for cash back on general purchases rather than specific benefits at Best Buy.
Editorial Disclosure: The information in this article has not been reviewed or endorsed by any advertisers. Financial product details such as card rates and fees are accurate as of the date of publication. All products or services are provided without warranty. Please check your bank's website for the latest information. This site does not contain all currently available offers.
