What the Citi Best Buy Credit Card offers
The Citi Best Buy credit card is a co-branded card issued by Citibank and Best Buy that rewards purchases made at Best Buy stores and online. It earns cash back on Best Buy purchases, offers promotional financing periods, and provides cardholder benefits like extended warranties and price protection. The card is designed for people who shop at Best Buy regularly and want to concentrate their rewards there rather than spread them across general-purpose cards.
The card comes in two versions: the standard Best Buy card and the Best Buy Plus card. The main difference is the cash back rate and the annual fee structure. Both cards have no annual fee, though the Plus version offers higher rewards rates in exchange for a higher annual membership cost at Best Buy itself (the Best Buy Plus membership, which is separate).
Unlike general cash back cards, this card's value depends entirely on how much you spend at Best Buy. If you rarely shop there, the rewards will not offset the opportunity cost of using a card with broader rewards. If you shop there monthly for electronics, appliances, or media, the concentrated rewards can add up.
Key Takeaways
- The Citi Best Buy card earns cash back only on Best Buy purchases, not on other retailers or general spending.
- The standard version has no annual fee and earns a base cash back rate; the Plus version requires a Best Buy Plus membership fee but offers higher rewards rates.
- The card includes promotional financing offers (usually 0% APR for a set period on large purchases), which can save money on expensive items like computers or appliances.
- Cash back earned on the card can be used as a statement credit, redeemed for Best Buy gift cards, or deposited to a bank account.
- The card's value depends on your shopping habits — it makes sense only if you spend regularly at Best Buy.
Cash back rates and how rewards work
The standard Citi Best Buy card earns 1.5% cash back on all Best Buy purchases. The Best Buy Plus card earns 2% cash back on Best Buy purchases, but requires you to pay for a Best Buy Plus membership (which costs money annually and is separate from the credit card itself).
Cash back is earned on the purchase price before tax. You can redeem rewards as a statement credit (reducing your bill), as a Best Buy gift card, or by transferring the balance to a linked bank account. There is no minimum redemption amount, so you can cash out even small rewards balances.
The card earns no rewards on purchases outside Best Buy — not at other electronics retailers, not at gas stations, not at groceries. This is the core trade-off: higher rewards at one place means zero rewards everywhere else. If you use this card for general spending, you are leaving rewards on the table.
Promotional financing and how it affects your balance
Best Buy credit cards typically come with promotional financing offers, usually 0% APR for 12 to 24 months on purchases over a certain amount (often $399 or $499). This means you can buy an expensive item — a laptop, TV, or appliance — and pay it off interest-free during the promotional period.
The catch is that if you do not pay off the full promotional balance by the end of the period, the remaining balance is charged the card's regular APR (which varies based on your creditworthiness). The interest is applied retroactively to the original purchase date, not just going forward. This makes it critical to either pay off the promotional purchase completely or transfer it before the period ends.
Promotional financing is useful if you have a specific large purchase in mind and can commit to paying it off within the promotional window. It is not useful as a way to stretch payments indefinitely — the retroactive interest makes that expensive.
Annual fees and membership costs
The standard Citi Best Buy card has no annual fee. You pay nothing just to hold the card.
The Best Buy Plus card also has no annual fee for the card itself, but it requires a Best Buy Plus membership, which costs money per year. Best Buy Plus is a separate paid membership program (not included with the card) that offers discounts, free shipping, and other perks. The card's higher cash back rate is meant to offset the membership cost, but only if you spend enough at Best Buy to make the math work.
To decide between the two: calculate your annual Best Buy spending, multiply it by the difference in cash back rates (0.5%), and compare that to the Best Buy Plus membership fee. If the extra cash back exceeds the membership cost, the Plus card makes sense. If not, the standard card is the better choice.
Who benefits most from this card
The Citi Best Buy card makes sense for people who shop at Best Buy at least a few times per year and spend enough to earn meaningful rewards. This includes people who buy computers, monitors, or peripherals for work; households that replace appliances regularly; or people who buy media, gaming equipment, or smart home devices.
The card is less useful if you shop at Best Buy only once every few years, or if you prefer to spread your spending across multiple retailers to maximize rewards. It is also less useful if you can find better rewards rates elsewhere — some general cash back cards offer 2% or higher on all purchases, which would beat the Best Buy card outside Best Buy.
The card requires good credit to be approved. Citibank typically approves applicants with a credit score of 670 or higher, though approval is not may provide and depends on your full credit profile and income.
How to redeem your cash back
Cash back earned on the Citi Best Buy card can be redeemed in three ways: as a statement credit (which reduces your credit card bill), as a Best Buy gift card, or as a direct deposit to a bank account. You can redeem at any time — there is no waiting period or minimum balance.
Statement credit is the simplest option if you want to reduce what you owe on the card. Gift card redemption locks your rewards into Best Buy spending, which makes sense if you plan to shop there anyway. Direct deposit to a bank account gives you the most flexibility, though some people find it less intuitive than the other options.
Rewards do not expire as long as your account remains open and in good standing. If you close the card, any unredeemed cash back is typically forfeited, so redeem before closing the account.
Comparing this card to other options
The main competitor to the Citi Best Buy card is the Best Buy credit card issued by Synchrony Bank (the older version). The Citi version is newer and offers similar rewards rates but may have different promotional financing terms and benefits. Both are Best Buy co-branded cards with no annual fee.
If you want a card that rewards spending everywhere, not just Best Buy, a general cash back card like the Citi Double Cash (2% back on all purchases) or the Capital One SavorOne (3% on dining and entertainment, 1% elsewhere) will earn more rewards if you do not spend heavily at Best Buy.
If you shop at multiple retailers, a rotating category card like the Chase Freedom Unlimited or Discover it might offer higher rewards on certain categories (groceries, gas, restaurants) depending on the quarter. The trade-off is that you have to track which categories are active and remember to set up them.
Frequently Asked Questions
Can I use this card outside Best Buy?
Yes, you can use the card anywhere Visa is accepted. However, you earn no cash back on purchases outside Best Buy — only on Best Buy purchases. If you use it for general spending, you are not earning rewards and would be better off with a general cash back card.
What happens if I do not pay off a promotional financing purchase in time?
The remaining balance is charged the card's regular APR, and the interest is applied retroactively to the original purchase date. This can result in a large interest charge. Always pay off promotional purchases before the period ends, or transfer the balance to another card.
Does the Best Buy Plus membership come with the card?
No. The Best Buy Plus card does not include a membership — you have to pay for Best Buy Plus separately. The card's higher cash back rate is designed to help offset that membership cost, but only if your spending is high enough.
How long does it take to earn and redeem cash back?
Cash back is earned on each purchase when ready and appears in your account. You can redeem it at any time — there is no waiting period. Redemptions typically process within a few business days.
What credit score do I need to be approved?
Citibank typically approves applicants with a credit score of 670 or higher, though approval depends on your full credit history, income, and existing debt. You can check your credit score for free through many banks or credit monitoring services before explore.