The My Best Buy Credit Card is a store card that gives you rewards on purchases at Best Buy
The My Best Buy Credit Card is issued by Citi and works only at Best Buy and Best Buy's website. When you use it to buy electronics, appliances, or other items at Best Buy, you earn rewards points that you can use toward future purchases. Unlike a general rewards card, this card has no annual fee and the rewards rate depends on whether you are a My Best Buy member.
The card comes in two versions: one for regular shoppers and one for My Best Buy Plus or My Best Buy Total members. If you are a My Best Buy Plus or Total member, you earn a higher rewards rate on all purchases. If you are not a member, you earn a lower rate. Both versions report to the three major credit bureaus, so using the card responsibly can help build your credit history.
Key Takeaways
- The My Best Buy Credit Card earns rewards points at Best Buy only, with a higher earning rate if you pay for a My Best Buy membership.
- There is no annual fee, but the card's value depends on how often you shop at Best Buy and whether the rewards rate matches your spending.
- The card requires a credit check and approval, so your credit score and history will affect whether you are accepted and what interest rate you receive.
- Carrying a balance on the card means paying interest unless you pay off the full amount each month or use a promotional financing offer.
How the rewards program works
When you use the My Best Buy Credit Card, you earn points on every dollar you spend at Best Buy. The exact number of points per dollar depends on your membership status. Best Buy publishes the current earning rates on their website and in the card agreement you receive after approval.
You can redeem your points as a statement credit or use them to buy items at Best Buy. Points do not expire as long as your account remains open and active. If you close the account, you may lose any unused points, so check your card agreement for the exact policy.
The card also sometimes offers bonus points during promotional periods, such as earning extra points on specific product categories or during holiday shopping seasons. These promotions change throughout the year, so it is worth checking your account online or asking in-store about current offers.
Interest rates and fees you should understand
The My Best Buy Credit Card has no annual fee, which means you will not be charged just for holding the card. However, if you carry a balance from month to month, you will pay interest. The interest rate (called the APR, or annual percentage rate) is determined when you are approved and depends on your credit score and credit history.
Best Buy sometimes offers promotional financing on large purchases, such as 0% APR for 12 months on purchases over a certain amount. These offers are advertised in-store and online, but they explore only to new purchases during the promotional period. If you do not pay off the balance before the promotion ends, you will owe interest on the remaining balance at the regular APR.
Late payments will result in a late fee, and paying late can also raise your interest rate. Paying at least the minimum payment on time each month helps you avoid these fees and protects your credit score.
How approval and credit checks work
When you explore for the My Best Buy Credit Card, Citi will perform a hard inquiry on your credit report. This means they will check your credit score, payment history, and existing debts to decide whether to approve you and what interest rate to offer. A hard inquiry can lower your credit score by a few points temporarily.
Your approval odds depend on your credit score and history. If you have a score in the good to excellent range (typically 670 or higher), you have a reasonable chance of approval. If your score is lower or you have recent late payments or high debt, approval is less certain. You can check your own credit report for free once per year at annualcreditreport.com to see what information Citi will see.
If you are approved, you will receive a credit limit — the maximum amount you can charge on the card. This limit is based on your creditworthiness and income. You can request a higher limit after you have used the card responsibly for several months.
When the My Best Buy card makes sense for your wallet
The My Best Buy Credit Card is worth considering if you shop at Best Buy regularly and plan to pay off your balance in full each month. The rewards points add up faster if you are a My Best Buy Plus or Total member, so the card is more valuable if you already pay for that membership.
The card is less useful if you shop at Best Buy only occasionally or if you carry a balance and pay interest. Interest charges will quickly erase any rewards you earn. For example, if you earn 2 points per dollar but pay 20% APR on a balance, the interest cost will outweigh the rewards value.
If you have a low credit score or are working to rebuild credit, using this card responsibly — by making small purchases and paying them off in full each month — can help improve your credit over time. However, if you struggle to pay bills on time, a rewards card may not be the right choice right now.
Comparing the My Best Buy card to other options
The My Best Buy Credit Card is a store card, which means it works only at one retailer. A general rewards credit card from Visa, Mastercard, or American Express works everywhere and may offer rewards on all purchases, not just at Best Buy. If you shop at many different stores, a general card might earn you more rewards overall.
However, if you spend most of your electronics budget at Best Buy, the higher earning rate on this card could be better than a general card's flat rewards rate. Compare the rewards rates: if the My Best Buy card earns 3 points per dollar and your general card earns 1.5 points per dollar, the Best Buy card wins for your Best Buy spending.
Some people use both — a store card for frequent purchases at one retailer and a general card for everything else. Just remember that each new card process triggers a hard inquiry, so space out applications by a few months if you are building your credit.
Managing your account and avoiding common mistakes
Once you have the card, set up automatic payments or calendar reminders to pay your bill on time each month. Even one late payment can damage your credit score and trigger a higher interest rate. If you cannot pay the full balance, pay at least the minimum to avoid a late fee.
Keep your account active by using the card occasionally, even if you do not earn rewards on every purchase. Inactive accounts can be closed by the issuer, which removes available credit from your credit report and can lower your credit score.
Monitor your account online or through the Citi mobile app to watch for unauthorized charges and to track your rewards balance. If you see a charge you do not recognize, report it to Citi right away — federal law limits your liability for fraudulent charges to $50 if you report them promptly.
Frequently Asked Questions
What credit score do I need to be approved for the My Best Buy card?
Best Buy and Citi do not publish a minimum credit score, but approval is more likely with a score of 670 or higher. If your score is lower, you can still explore, but your chances are smaller. Check your score for free at annualcreditreport.com before you explore.
Can I use the My Best Buy card outside of Best Buy?
No. The My Best Buy Credit Card works only at Best Buy stores and on bestbuy.com. If you need a card that works everywhere, you will need a different credit card.
What happens to my rewards points if I close the account?
Most store card issuers cancel unused points when you close the account. Check your card agreement or call the number on the back of your card to confirm the policy before you close your account.
Does the My Best Buy card help me build credit?
Yes, if you use it responsibly. Making on-time payments and keeping your balance low relative to your credit limit shows lenders you are reliable. This positive history is reported to the credit bureaus and can raise your credit score over time.
What is the difference between the regular card and the My Best Buy Plus member card?
The main difference is the rewards earning rate. My Best Buy Plus and Total members earn a higher rewards rate on all purchases. If you do not have a membership, you earn a lower rate. Both versions have no annual fee.