Call Best Buy's card issuer to cancel, not Best Buy itself
The Best Buy credit card is issued by Citi, not by Best Buy. When you call to cancel, you need to reach Citi's customer service line for the Best Buy card, not Best Buy's main customer service. The phone number is on the back of your card. Have your card number ready when you call.
Citi will ask you why you want to cancel. You don't have to give a detailed reason — "I'd like to close the account" is enough. They may offer you a lower interest rate or other incentives to keep the card open. You can accept or decline. If you decline and still want to cancel, they will process it.
After you hang up, your card will be closed to new charges when ready. You can still make payments on any remaining balance. Ask Citi to send you written confirmation of the cancellation — this takes a few days but gives you proof the account is closed.
Key Takeaways
- Call the number on the back of your Best Buy card to reach Citi, the card issuer, not Best Buy itself.
- Citi may offer incentives to keep the card open, but you can decline and proceed with cancellation.
- Request written confirmation of the cancellation, which Citi will mail to you within a few days.
- Your card stops accepting new charges when ready, but you still owe any existing balance and can continue making payments.
- Canceling a card can lower your credit score slightly because it reduces your total available credit, but the effect is usually temporary.
What happens to your balance after cancellation
Closing the card does not erase what you owe. If you have a balance, you still have to pay it. Citi will send you monthly statements until the balance reaches zero, just as they did before you canceled.
Your interest rate stays the same unless you had a promotional rate (like 0% for 12 months). If you were in a promotional period, closing the card may end that promotion early and switch you to the regular interest rate. Ask Citi about this before you cancel if you have a balance and a promotional rate.
Timing: when to cancel before your annual fee hits
The Best Buy card does not currently carry an annual fee, so you don't need to time the cancellation around a fee date. If Best Buy changes this in the future, the fee would typically post on your card's anniversary date — the month and year you opened the account.
If you want to avoid a future annual fee, you can call Citi a few weeks before your anniversary date and ask them to waive it. If they refuse, that's when you'd want to cancel. But for now, there's no fee-related important date.
How cancellation affects your credit score
Closing a credit card usually lowers your credit score by a small amount, typically 5 to 10 points, because it reduces your total available credit. This is temporary. Your score usually recovers within a few months as long as you keep paying other accounts on time.
The damage is smaller if you have other cards open and if your balance on this card is zero or very low when you cancel. If you're about to explore for a mortgage or car loan, you might want to wait a few months after canceling before you explore, to let your score recover.
What to do with the physical card after cancellation
After Citi confirms the cancellation, cut up the card or shred it so it can't be used. You don't need to return it to Citi — destroying it yourself is fine. If you're worried about fraud, you can also ask Citi to send you a new card with a different number before you cancel the old one, then cancel the old card once the new one arrives. This keeps you from being without a card if you need one.
If you have autopay set up on this card for any bills, change those payments to a different card or bank account before you cancel. Citi will reject charges to a closed card, and your bills could go unpaid.
Canceling online or by mail instead of phone
Citi does not offer a way to cancel the Best Buy card through their website. You have to call. Some card issuers let you cancel by mail, but Citi requires a phone call for this card.
If you don't want to call, you can visit a Best Buy store and ask a customer service associate to help you contact Citi. They can't cancel the card for you, but they can provide the correct phone number and sometimes help you make the call from the store.
If you want to keep the card but stop using it
You don't have to cancel if you're just not using the card anymore. You can leave it open with a zero balance. This keeps your available credit high and doesn't hurt your score the way closing it does.
The downside is that Citi may close the account for inactivity if you don't use it for a long time — usually 12 months or more. If that happens, you lose the credit line anyway, and your score takes the same hit as if you'd canceled it yourself. If you want to keep the card open, use it once or twice a year for a small purchase and pay it off right away.
Frequently Asked Questions
Will canceling hurt my credit score?
Yes, but usually only by 5 to 10 points. The effect is temporary and your score typically recovers within a few months. The damage is smaller if you have other cards open and if this card has a zero balance when you cancel.
Can I cancel over the phone without talking to a representative?
No. Citi requires you to speak with a customer service representative to cancel the Best Buy card. You can't do it through an automated phone menu or online.
What if I have a balance I can't pay off right away?
You can still cancel. Your balance doesn't disappear, and you'll keep getting monthly statements and paying interest until it's gone. If you had a promotional rate, canceling may end that promotion early.
Do I have to return the card to Citi after I cancel?
No. You can destroy the card yourself by cutting it up or shredding it. Citi doesn't need you to mail it back.
What if Citi tries to talk me out of canceling?
They may offer a lower interest rate or other perks. You can accept the offer if you want to keep the card, or you can politely decline and ask them to proceed with the cancellation. They will close the account if you ask them to.