The Best Buy Credit Card is a store card that earns rewards on purchases at Best Buy and partner merchants
Best Buy offers a branded credit card through Citi that gives you rewards points on purchases. The card works like any other credit card — you get a credit limit, make purchases, and pay a monthly bill — but the rewards structure is built around Best Buy spending. You earn points faster at Best Buy than elsewhere, and you can redeem those points for discounts on electronics, appliances, and services.
The card comes in two versions: the Best Buy Credit Card (for store purchases only) and the Best Buy Visa Card (which works anywhere Visa is accepted). The Visa version gives you more flexibility because you can use it outside Best Buy, though the rewards rate is lower on non-Best Buy purchases. Neither version has an annual fee, which makes them worth considering if you shop at Best Buy regularly.
Before you open an account, you should understand how the rewards work, what the interest rate is, and whether the card fits your spending habits. A store card only makes sense if you actually use it — carrying a balance at a high interest rate will erase any rewards you earn.
Key Takeaways
- The Best Buy Credit Card earns 5 points per dollar at Best Buy and 1 point per dollar elsewhere (Visa version), with no annual fee.
- Points can be redeemed for statement credits or used toward Best Buy purchases, typically at a rate of 100 points per dollar of value.
- The card carries a variable interest rate that changes with the market, so your APR may differ from other cardholders and may increase over time.
- Carrying a balance on the card costs money in interest charges that will likely exceed the value of rewards you earn.
- The card reports to all three credit bureaus, so opening it will create a hard inquiry and lower your credit score temporarily.
How the Rewards Program Works
You earn points on every purchase you make with the card. At Best Buy, you earn 5 points per dollar spent. If you have the Visa version, you earn 1 point per dollar at other merchants. Some purchases earn bonus points — for example, Best Buy sometimes offers 10x points on certain product categories during promotional periods, though these offers change regularly.
Points accumulate in your account and never expire as long as your account remains open. You redeem them by logging into your Best Buy account online or asking a cashier in-store. One hundred points typically equals one dollar in value, though Best Buy occasionally runs promotions where points are worth more (like 50 points per dollar during special events).
You can use points as a statement credit on your card bill, or you can use them to reduce the price of items at Best Buy. Using them toward a purchase at Best Buy is often the better choice because you see the discount when ready, whereas a statement credit just reduces what you owe.
Interest Rates and Fees You Should Know
The Best Buy Credit Card charges a variable APR, which means the interest rate is not fixed and can change. The exact rate you receive depends on your credit score and credit history — people with excellent credit get lower rates, while those with fair or poor credit pay higher rates. Best Buy does not publish a single APR; instead, Citi (the card issuer) sets your rate based on your creditworthiness at the time you open the account.
The card has no annual fee and no late fees if you pay on time. However, if you miss a payment, you will pay a late fee (typically $25 to $35 for the first late payment). If you carry a balance and pay interest, that interest will almost certainly cost more than the rewards you earn. For example, if you spend $1,000 and earn 50 points (worth 50 cents), but then pay 20% APR interest on that $1,000 for a month, you will owe about $17 in interest — a net loss of $16.50.
The card also charges a cash advance fee (usually 3% of the amount) if you use it to withdraw cash, and a foreign transaction fee (usually 3%) if you use it outside the United States.
How Opening the Card Affects Your Credit
When you open a Best Buy Credit Card account, Citi will perform a hard inquiry on your credit report. This inquiry temporarily lowers your credit score by a few points — typically 5 to 10 points, though the impact varies by person. The inquiry stays on your report for about two years but stops affecting your score after about six months.
Opening a new account also lowers your average account age, which is part of how credit scores are calculated. If you have had credit for many years, this effect is small. If you are newer to credit, it can be more noticeable.
On the positive side, the card adds to your total available credit, which can lower your credit utilization ratio (the percentage of your available credit that you are using). If you keep the card open and do not carry a balance, this benefit grows over time and can actually help your score.
When a Best Buy Credit Card Makes Sense
The card is worth opening if you shop at Best Buy regularly and pay off your balance in full every month. If you spend $2,000 per year at Best Buy, you will earn 10,000 points, worth about $100 in value. That is a real benefit if you were going to make those purchases anyway.
The card is less useful if you only shop at Best Buy occasionally, or if you tend to carry a balance. Carrying even a small balance will cost you more in interest than you earn in rewards. Similarly, if you rarely shop at Best Buy but want the card for the Visa benefits, you are better off with a general-purpose rewards card that earns the same rate everywhere.
The card can also be useful if you are financing a large purchase through Best Buy's promotional financing offers (like 12 months interest-free on purchases over a certain amount). In those cases, the card gives you a way to earn rewards on top of the financing benefit, as long as you make your payments on time.
Best Buy Credit Card Versus Other Store Cards
Store cards typically offer higher rewards rates at their store than general-purpose cards do, but lower rates everywhere else. The Best Buy card follows this pattern: 5 points per dollar at Best Buy is better than most other cards offer there, but 1 point per dollar elsewhere is lower than many travel or cash-back cards.
If you shop at multiple stores, a general-purpose rewards card (like a card that earns 2% cash back on all purchases) might serve you better than a Best Buy card. However, if Best Buy is where you do most of your electronics and appliance shopping, the higher earn rate there can add up.
The main advantage of a store card is simplicity: you have one card for one store, and the rewards are straightforward to understand. The main disadvantage is that you are locked into one retailer, and if your shopping habits change, the card becomes less useful.
How to Manage the Card Responsibly
If you decide to open a Best Buy Credit Card, treat it like any other credit card: pay the full balance every month, do not spend more than you would have without the card, and do not let the rewards tempt you into unnecessary purchases. The best rewards are the ones you earn on spending you were going to do anyway.
Set up automatic payments for at least the minimum due, or better yet, set up automatic full-balance payments. This prevents late fees and interest charges, which will wipe out your rewards. Many cardholders set their payment to happen a few days after their paycheck arrives, so the money is there when the payment is due.
Check your statement regularly for unauthorized charges, and report any fraud to Citi when ready. The card is protected by federal law (the Fair Credit Billing Act), which limits your liability for fraudulent charges to $50, but you have to report the fraud within 60 days of seeing it on your statement.
Frequently Asked Questions
Can I use the Best Buy Credit Card outside of Best Buy?
Only if you have the Best Buy Visa Card. The standard Best Buy Credit Card works only at Best Buy and Best Buy's website. The Visa version works anywhere Visa is accepted, but it earns fewer points per dollar outside Best Buy (1 point instead of 5).
What happens to my points if I close the card?
Your points expire if your account is closed for 12 months or longer. If you close the card but want to keep your points, you have one year to redeem them before they disappear. After that, they are gone and cannot be recovered.
Does the Best Buy Credit Card offer purchase protection or extended warranties?
The card does not include purchase protection or extended warranty coverage. Best Buy's own protection plans and manufacturer warranties are separate from the card benefits. Check your card's terms for any other protections like fraud liability limits.
How do I check my points balance?
Log into your Best Buy account online, go to the rewards section, and your current points balance will display there. You can also ask a cashier in-store to check your balance, or call the customer service number on the back of your card.
Can I transfer my points to another person or account?
Points are tied to your Best Buy account and cannot be transferred to another person. However, you can redeem your points and give someone a Best Buy gift card with the value, which achieves a similar result.