The Best Buy credit card is a store card that gives you rewards on purchases at Best Buy and lets you finance large electronics purchases
Best Buy offers two versions of a store credit card through Citi: the Best Buy credit card and the Best Buy Visa card. The main difference is where you can use them. The store card works only at Best Buy and Best Buy.com. The Visa card works anywhere Visa is accepted, but the rewards structure is designed to push you toward Best Buy purchases.
Both cards offer the same core benefit: points on every purchase that you can redeem for discounts on future Best Buy transactions. The store card also includes financing options on purchases over a certain amount, which can mean zero interest for a set period if you meet the terms. Neither card charges an annual fee, which is unusual for store cards that offer financing.
The catch is that the rewards rate is modest compared to general-purpose cash-back cards, and the financing offers come with strict terms. If you miss a payment or don't pay off the balance before the promotional period ends, you'll owe interest retroactively on the full original amount.
Key Takeaways
- The Best Buy store card earns points only at Best Buy, while the Best Buy Visa earns lower rewards everywhere but higher rewards at Best Buy.
- Both cards offer promotional financing on large purchases, typically zero interest for 12 to 24 months depending on the purchase amount, but interest applies retroactively if you don't pay in full by the end date.
- There is no annual fee on either card, but the rewards rate (usually 1 to 5 points per dollar) is lower than many general-purpose cash-back cards.
- Points expire if your account is closed or inactive, so you need to use the card regularly or redeem points before that happens.
How rewards work on the Best Buy card
The store card earns points at a tiered rate: you earn more points on certain categories like appliances, computers, and mobile devices, and fewer points on other purchases. The exact rates change periodically and vary by product category. Best Buy publishes the current rates on their website, but generally you'll earn between 1 and 5 points per dollar spent.
Points are redeemed as a discount on your next purchase at Best Buy. One point typically equals one cent in value, though Best Buy sometimes runs promotions where points are worth more. You can check your points balance online or in the Best Buy app, and you can redeem them at checkout in-store or online.
The Visa version earns 1 point per dollar everywhere, but 5 points per dollar at Best Buy. This makes it useful if you use the card outside Best Buy but want higher rewards when you shop there. However, the lower rate everywhere else means a general-purpose cash-back card often makes more sense if you don't spend heavily at Best Buy.
Promotional financing and how to avoid paying interest
The store card offers zero-interest financing on purchases above a certain threshold — typically $399 or higher, though this varies by promotion. The promotional period usually runs 12 to 24 months depending on the purchase amount. During that time, you pay no interest as long as you make at least the minimum monthly payment.
The risk is significant: if you don't pay the full balance before the promotional period ends, Best Buy charges you interest on the entire original purchase amount retroactively, from the date you made the purchase. This is called deferred interest. If you bought a $1,000 laptop on a 24-month zero-interest offer and still owe $100 when month 24 ends, you'll owe interest on the full $1,000, not just the $100 remaining.
To use promotional financing safely, calculate the monthly payment needed to pay off the balance before the period ends, then set up automatic payments for that amount. If you're unsure you can pay it off, a regular credit card or saving up first is a better choice.
Annual percentage rate and regular interest charges
The Best Buy credit card carries a variable APR that changes based on your creditworthiness and market conditions. Best Buy does not publish a single rate; instead, you'll see a range like "18.99% to 27.99% APR" depending on your credit profile. You'll learn your specific rate when you're approved.
This is a high rate compared to many general-purpose credit cards, which typically range from 15% to 25% APR. The higher end of the range is common for store cards. If you carry a balance month to month without using a promotional financing offer, you'll pay interest quickly.
The card uses a daily periodic rate to calculate interest, meaning interest accrues every day on any unpaid balance. There is no grace period for regular purchases — interest starts accruing when ready if you don't pay the full statement balance by the due date.
When the Best Buy card makes sense
The card is most useful if you buy electronics regularly at Best Buy and can pay off the balance in full each month. In that scenario, you earn points with no annual fee and no interest charges. The points add up faster on high-ticket items like computers, TVs, and appliances where the rewards rate is highest.
The promotional financing is valuable if you're buying an expensive item and can commit to a payment plan that clears the balance before the period ends. A $2,000 TV on a 24-month zero-interest offer means you pay about $83 per month with no interest — better than paying cash upfront if you need the cash for other things, and better than a regular credit card if you can't pay it off when ready.
The card is less useful if you only shop at Best Buy occasionally, if you carry balances month to month, or if you can get better rewards from a general-purpose card. A 2% cash-back card used everywhere beats a 1% rewards card used only at Best Buy unless you're spending thousands annually at Best Buy.
How to manage your Best Buy card account
You can explore for the card online at Best Buy's website or in-store. The process takes a few minutes and you'll get an when ready decision in most cases. If approved, you can use the card when ready in-store or online, though the physical card arrives by mail within 7 to 10 business days.
Manage your account through the Best Buy credit card portal online or through the Best Buy app. You can view your balance, make payments, check your points, and see your current APR and promotional offers. Set up automatic payments to avoid missing due dates, which trigger late fees and damage your credit score.
Keep an eye on your points balance. Points expire if your account is closed or inactive for an extended period (Best Buy's policy varies, so check the terms). If you're not using the card regularly, redeem your points before they disappear or close the account if you don't plan to use it.
Comparing the Best Buy card to other options
A general-purpose cash-back card like the Chase Freedom Unlimited or Capital One SavorOne typically offers 1.5% to 2% cash back on all purchases with no annual fee. If you spend $5,000 per year at Best Buy, that's $75 to $100 in rewards. The Best Buy card might earn more if you hit the higher rewards categories, but only if you spend heavily on the right product types.
For financing, a personal loan from a bank or credit union often carries a lower APR than the Best Buy card's deferred interest offer, especially if your credit is good. A $2,000 loan at 10% APR costs less than deferred interest at 20%+ APR if you miss the promotional important date. Compare the total cost before committing to store financing.
If you rarely buy electronics, a cash-back card used everywhere is simpler and more valuable. If you buy at Best Buy frequently and can pay in full each month, the store card's lack of annual fee and category rewards make it worth keeping alongside a general-purpose card.
Frequently Asked Questions
What happens if I don't pay off a promotional financing purchase in time?
Best Buy charges you interest retroactively on the full original purchase amount from the date you bought it, not just on the remaining balance. If you owed $100 on a $1,000 purchase when the promotional period ended, you'd owe interest on the entire $1,000. This can add hundreds of dollars to your bill, so set up automatic payments to may support you pay it off before the important date.
Can I use the Best Buy store card outside of Best Buy?
No, the store card works only at Best Buy and Best Buy.com. The Best Buy Visa card works anywhere Visa is accepted, but it earns lower rewards outside Best Buy. If you need a card for general use, the Visa version or a separate general-purpose card is better.
How long do Best Buy rewards points last?
Points expire if your account is closed or inactive for an extended period. Best Buy's exact policy on inactivity varies, so check your cardholder agreement. To be safe, redeem points regularly or use the card at least once every few months to keep the account active.
Is the Best Buy card good for building credit?
Yes, like any credit card, the Best Buy card reports to the three major credit bureaus and can help build credit if you pay on time and keep your balance low. However, a general-purpose card with better rewards is usually a better choice for the same credit-building benefit.
What's the difference between the store card and the Visa version?
The store card works only at Best Buy and earns tiered rewards (1 to 5 points per dollar depending on category). The Visa card works everywhere but earns 1 point per dollar outside Best Buy and 5 points at Best Buy. Choose the store card if you shop only at Best Buy; choose the Visa if you want a card for general use with a bonus at Best Buy.