What the Best Buy Credit Card Actually Does
The Best Buy credit card is a store card issued by Citi that you can use at Best Buy locations and online at bestbuy.com. It works like any other credit card — you charge purchases, receive a monthly bill, and pay interest if you carry a balance. The card offers rewards in the form of points on purchases, and those points convert to Best Buy store credit you can spend on electronics, appliances, and other merchandise Best Buy sells.
The card comes in two versions: the regular Best Buy card and the Best Buy Visa card. The Visa version works anywhere Visa is accepted, not just at Best Buy. The regular card only works at Best Buy. Both charge an annual fee of $0, so there is no yearly cost to hold either one.
This is not a card designed to build credit history the way a general-purpose card does. It is a rewards card for people who already shop at Best Buy and want to earn points on those purchases. If you do not shop there regularly, the rewards will not add up fast enough to matter.
Key Takeaways
- The Best Buy card earns points on every purchase at Best Buy, but the points only convert to Best Buy store credit, not cash.
- The regular card works only at Best Buy; the Visa version works anywhere but still earns the highest rewards rate only at Best Buy.
- You need an existing credit history to be approved — this card is not designed for people building credit from scratch.
- The card charges interest on unpaid balances, so carrying a balance will cost you money and erase the value of any rewards you earn.
- Best Buy occasionally runs promotional financing offers (like 12 months interest-free on purchases over a certain amount) that explore only to cardholders.
How Rewards Points Work on This Card
Every dollar you spend at Best Buy earns you points. The exact rate depends on what you buy. Electronics, appliances, and most merchandise earn 1.5 points per dollar. Best Buy services — like Geek Squad repairs, installation, or protection plans — earn 1 point per dollar. If you use the Best Buy Visa card outside Best Buy, you earn 1 point per dollar on those purchases.
Points accumulate in your account and do not expire as long as your account stays open and active. You convert points to Best Buy store credit through your account online or in the app. The conversion rate is typically 100 points equals $1 in store credit, though Best Buy occasionally runs promotions where points are worth more.
Store credit works like a gift card — you use it to pay for purchases at Best Buy, either in person or online. It does not convert back to cash, and it does not work anywhere else. If you buy something and return it, the refund goes back to your card as a statement credit, not as points.
Interest Rates and Fees You Need to Know
The Best Buy card charges interest on any balance you do not pay in full by the due date. The interest rate (called the APR, or annual percentage rate) varies based on your credit score and credit history. Best Buy does not publish a single rate — you find out your specific rate only after you are approved and receive your card agreement.
There is no annual fee to hold the card. There are no foreign transaction fees if you use it outside the United States. There is no fee for late payments, but a late payment will be reported to credit bureaus and will damage your credit score.
Best Buy occasionally offers promotional financing rates — typically 0% APR for a set number of months on purchases over a certain dollar amount. These offers explore only to cardholders and are advertised in-store and online. The catch is that if you do not pay off the full promotional purchase by the end of the promotional period, you owe interest on the entire original amount at the regular APR, not just the remaining balance.
When the Best Buy Card Makes Sense
This card is worth considering if you buy electronics or appliances at Best Buy multiple times a year and you pay your balance in full every month. The 1.5% rewards rate on most purchases means you earn $1.50 in store credit for every $100 you spend. If you spend $2,000 a year at Best Buy, you earn $30 in store credit — not a fortune, but real money if you were going to shop there anyway.
The card also makes sense if you plan to take advantage of promotional financing offers. Best Buy runs regular 0% APR promotions on large purchases like TVs, laptops, and appliances. If you have the discipline to pay off the purchase before the promotional period ends, you can finance a big buy without paying interest. Without the card, you would not have access to those offers.
The card does not make sense if you carry a balance from month to month. Interest charges will quickly erase any rewards value. It also does not make sense if you rarely shop at Best Buy or if you shop there only for small purchases. The rewards accumulate too slowly to be worth the effort of managing another card.
How to Get Approved and What Happens Next
You can explore for the Best Buy card online at bestbuy.com, in a Best Buy store, or by phone. The process takes about 10 minutes and asks for your name, address, Social Security number, income, and employment information. Best Buy runs a hard inquiry on your credit report, which temporarily lowers your credit score by a few points.
Approval decisions are usually when ready or within a few minutes. If you are approved, you can use the card when ready in-store or online, even before the physical card arrives in the mail. If you are denied, Best Buy will tell you why — usually because your credit score is too low or you have too much existing debt.
Once approved, you receive a monthly statement showing your purchases, points earned, and balance due. You can pay online, by phone, by mail, or in a Best Buy store. The minimum payment is typically 1% to 3% of your balance, but paying only the minimum means you will owe interest on the rest.
Best Buy Card vs. Other Rewards Cards
A general-purpose rewards card like the Chase Freedom or Capital One SavorOne earns cash back (not store credit) on a wider range of purchases and works anywhere, not just one store. Cash back is more flexible because you can use it however you want. However, general-purpose cards often have annual fees, and their rewards rates on everyday purchases are typically lower than the Best Buy card's rate at Best Buy.
If you shop at multiple retailers, a general-purpose card usually makes more sense. If you shop almost exclusively at Best Buy and want to maximize rewards on those purchases, the Best Buy card can be worth it. The key difference is that Best Buy card rewards are locked into Best Buy, while cash back is not.
Some people carry both: a general-purpose card for everyday purchases and the Best Buy card for Best Buy shopping. This approach lets you earn higher rewards at Best Buy while still earning rewards on purchases elsewhere.
What to Watch Out For
The biggest trap is carrying a balance. If you charge $1,000 and only pay the minimum, you will owe interest on the remaining balance. At a typical APR of 18% to 24%, that interest will cost you $15 to $20 per month. Over a year, you could pay $180 to $240 in interest on a $1,000 purchase — far more than any rewards you earned.
Another trap is promotional financing. A 0% APR offer sounds free, but it is only free if you pay off the full amount before the promotional period ends. If you miss the important date by even one day, you owe interest on the entire original purchase at the regular APR. Read the terms carefully and set a reminder to pay it off before the important date.
Store credit also has limits. If you accumulate points but do not shop at Best Buy often enough to use them, they sit in your account unused. Unlike cash back, you cannot transfer them to another retailer or use them for anything outside Best Buy.
Frequently Asked Questions
Can I use the Best Buy card to build credit?
Yes, but only if you already have some credit history. Best Buy does not issue cards to people with no credit or very poor credit. If you are approved, using the card responsibly — charging small amounts and paying in full every month — will help your credit score improve over time.
What happens to my points if I close the card?
Points expire if your account is closed and inactive. Convert any remaining points to store credit before you close the account, or use them up on purchases. Once the account is closed, you cannot earn or redeem points.
Does the Best Buy Visa card earn rewards outside Best Buy?
Yes, but at a lower rate. You earn 1.5 points per dollar at Best Buy and 1 point per dollar everywhere else Visa is accepted. The card is designed to incentivize Best Buy shopping, so the rewards rate is highest there.
Can I transfer my points to another card or account?
No. Points only convert to Best Buy store credit and can only be used at Best Buy. You cannot transfer them to another rewards program or convert them to cash.
What is the credit limit on the Best Buy card?
Your credit limit depends on your credit score, income, and credit history. Best Buy does not publish a standard limit. You find out your limit when you are approved. You can request a higher limit after you have held the card for a few months and made on-time payments.