Key Points
- Best Buy Credit Cards allow their users to earn some substantial rewards.
- You can earn 5 points per $1 invested on the very first day of your purchase when made on the credit card. You can earn this reward when you have purchased within 14 days of the opening of the account.
- You can also get a complete review on rewards, bonuses, and interest-free financing of the Best Buy Credit Card.
Best Buy Credit Card enables regular Best Buy shoppers to earn significant rewards. You can get this card by applying in-store or online, this will also lead you to get three credit cards as rewards from the store. My Best Buy® Credit Card is a closed-loop store, which is in the first position, it works only for Best Buy Purchases. The other two are My Best Buy® Visa® cards. It has two categories one is with an annual fee of $59 and the other is free. You will get to know review about the no annual fee version of the Best Buy Credit Card in this article.
Types Of Best Buy Credit Cards
There are mainly two types of Best Buy Credit cards. You can get these credit cards both online and in-store.
- My Best Buy Citi Credit Card:-
This type of credit card is a “closed-loop” store card, which means this card is only accepted at Best Buy and BestBuy.com. This card does not include an annual fee.
This card is an “open-loop” credit card, which means that this card can be accepted anywhere that puts up with Visa. This card has two versions with a difference in annual fees. You will get the card from Best Buy based on the approval of the application submitted. The two versions are
- Gold:- This version of the card has an annual fee of about $59.
- Platinum:- This version of the card doesn’t have an annual fee.
Complete Review On Best Buy Credit Card
Rewards
Best Buy Purchases lead to an earning of about 5% back to My Best Buy® Credit Card, and the Elite Plus Member can get 6% back. Within a calendar year, you have to earn $3,500 in Best Buy Purchase if you want to qualify as an Elite Plus Member.
There are different categories for bonuses on My Best Buy® Visa® cards. The earnings on different aspects are as follows:
- 2% back on the dining
- 3% back on gas
- 1% back on other purchases
These rates are a little similar to other credit cards offered. Additionally, each My Best Buy® Visa® card has a limited-time promotion that gives 10% back on purchases made at pharmacies and drugstores and 5% back on wholesale club purchases. This offer lasted from September 1 to December 31, 2020. For the qualification process, 30 new accounts are needed to be opened.
Both the percentages and points are considered to pertain to the rewards by Best Buy. 2.5 points are earned per $1 by each Best Buy Credit Card which is equal to 5% Back on Best Buy Purchases.
Bonus
You can earn 10% back on the very first day of a Best Buy purchase once you get the approval for Best Buy Credit Card. Suppose, if you are spending $1,000, the worth is $100 rather than the normal $50. If you want to qualify for the bonus offer you need to make your first purchase within 14 days of creating the account.
It’s suitable to apply for a Best Buy credit card when you need to make a considerable purchase there because of the way this offer operates. Remember that purchases made with a Best Buy financing program will not qualify for rewards; only transactions made with a conventional credit card will. If you decide to take advantage of the 10% bonus, make sure you can pay for your purchases in full by the due date to avoid being charged interest.
Interest-Free Lending
Occasionally, Best Buy offers their customers interest-free financing. This states that if you have paid off the complete balance within the specified time limit, they won’t charge you any interest. The availability of this kind of financing differs, and the length of the offer may depend on how much is financed or the kind of product bought.
The flexible financing plan of Best Buy is the most helpful plan when you are not able to make payments for the purchases in full. Additionally, some of the 0% intro APR offers that you may obtain with a Best Buy Credit Card are longer than anything else.
You have to make sure that you check out the amount you need to pay every month to pay the complete balance within the zero-interest period if you are using a special financing plan by Best Buy Credit Card.
Frequently Asked Questions (FAQs)
- Where to use the Best Buy Credit Card?
You can use your standard My Best Buy® Credit Card for Best Buy Purchases. Here, the My Best Buy® Visa® card is not considered.
- What is the limit for the credit of Best Buy Credit Card?
The limit for the credit of Best Buy Credit Card is dependent on the aspects specified by the issuer of the cards. The credit limit consideration may include the past credit score, income of the user, history of payments, and other norms.
- How to check the balance of Best Buy Citi Credit Card?
If you want to check your balance for Best Buy Citi Credit Card, you can check it either online or via the Citi app. The other option is that there is a number printed on the back of your card. You can make call on that number, and hear the balance being announced to make further payments.
- What are the advantages of Best Buy Credit cards?
The benefit of the Best Buy Credit Card is that it gives you protection from any fraud with a monthly report of credit to the bureau. It gives you rewards and bonuses of 0.5 to 2.5 points per $1 on the first purchase.
