Call Best Buy's credit card customer service to cancel

The fastest way to cancel your Best Buy credit card is to call the customer service number on the back of your card. You will reach a representative who can process the cancellation when ready. Have your card number ready when you call.

Best Buy's credit card is issued by Citi, so you are calling a Citi customer service line, not Best Buy directly. The representative will confirm your identity, ask why you are cancelling, and then close the account. The entire call usually takes five to ten minutes.

After you hang up, your card will be closed. You can still use the account online to view your balance and make payments if you have an outstanding balance, but you cannot make new purchases.

Key Takeaways

  • Call the number on the back of your Best Buy credit card to reach Citi customer service, where a representative can cancel your account in one call.
  • You will need your card number and may be asked to verify your identity with your Social Security number or other personal information.
  • Cancelling does not erase your balance — you still owe any amount you charged and must continue making payments.
  • Your credit report will show the account as closed, which may affect your credit score temporarily because it changes your available credit.
  • If you have a rewards balance, use or redeem your points before cancelling, because you may lose them once the account closes.

What happens to your rewards points when you cancel

Best Buy credit card rewards points are usually forfeited when you close the account. Before you call to cancel, log into your Best Buy account online and check your rewards balance. If you have points saved, use them to make a purchase at Best Buy or redeem them for a statement credit before you cancel.

Once the account is closed, Citi will not restore points you have already lost. Some cardholders have had success calling back within a few days to ask for a one-time reinstatement, but this is not may provide and depends on the representative you reach.

Paying off your balance after cancellation

If you have a balance remaining on your card when you cancel, you are still responsible for paying it. The account will remain open for billing purposes — you just cannot make new charges. You can pay online through the Citi website, by phone, or by mail.

Interest will continue to accrue on any unpaid balance at your current APR. If you want to avoid interest, pay the full balance before you call to cancel, or pay it when ready after the cancellation is processed.

How cancellation affects your credit score

Closing a credit card account can lower your credit score in the short term because it reduces your total available credit. If you have balances on other cards, your credit utilization ratio — the percentage of your total credit limit you are using — will increase, which lowers your score.

The impact is usually temporary. Your score will recover over time as you pay down other balances and the closed account ages on your credit report. The account will remain visible on your report for up to ten years, but its effect on your score diminishes after a few years.

Cancelling online or by mail if you cannot call

You can also cancel by logging into your Best Buy credit card account on the Citi website. Look for account settings or customer service options and select the option to close your account. Some online portals allow you to initiate closure, though you may still need to confirm by phone.

If you prefer to cancel by mail, write a letter to Citi requesting cancellation of your Best Buy credit card. Include your card number, full name, and account number. Mail it to the address on your statement under "Send Payments To" or "Customer Service." Keep a copy for your records. Cancellation by mail takes longer — usually two to four weeks — because the letter must be received and processed.

What to do with your physical card after cancelling

After you cancel, cut up your physical card or destroy it so it cannot be used. You do not need to return it to Best Buy or Citi. Some people prefer to keep one card in case they need the account number for a payment, but this is optional.

If you are concerned about fraud or identity theft, you can request that Citi send you written confirmation of the cancellation. This confirmation can be useful if there are any disputes about the account status later.

Frequently Asked Questions

Will cancelling hurt my credit score?

Cancelling will lower your score temporarily because it reduces your available credit and may increase your credit utilization ratio on other cards. The impact is usually small and fades within a few months as you continue to pay on time and your other balances decrease.

Can I reopen my Best Buy credit card after I cancel it?

You can request to reopen the account by calling Citi within a short window after cancellation, usually 30 to 60 days. After that, you would need to explore for a new card. Citi may deny the process if too much time has passed or if your credit has changed.

What if I have a pending charge on my card when I cancel?

Pending charges will still post to your account after cancellation. The account remains open for billing purposes, so you will see the charge appear and can pay it normally. You cannot make new purchases, but existing transactions will complete.

Do I lose my Best Buy membership if I cancel the credit card?

Cancelling the credit card does not affect your Best Buy membership or My Best Buy account. You can still shop at Best Buy and use your membership benefits. The credit card and the membership are separate.

How long does it take for the cancellation to show on my credit report?

The account status usually updates within one to two billing cycles, though it may take up to 30 days to appear on your credit report. You can check your report through the three major credit bureaus — Equifax, Experian, and TransUnion — to confirm the closure.