The Best Buy Visa card is best for frequent Best Buy shoppers who are looking for a way to pay for their tech while also racking up rewards for their upcoming purchases. While this isn’t a , you do have some advantages.
Here’s all there is to know about this unique retailer credit card and alternatives to consider.
More details
Potential cardholders should understand that the rewards earned with the Best Buy Visa Credit Card are not given as cash back.
Instead, this card uses a points-based system, where you’ll earn between 1 to 2.5 points for every dollar spent. These points are redeemable exclusively at Best Buy or on BestBuy.com, making it an excellent choice for those who frequently shop for electronics and tech.
However, this isn’t the right option for those seeking a more flexible that offers multiple ways to redeem points, such as cash back, statement credits, or travel discounts.
APR
After approval, cardholders are subject to a variable APR of 31.49% for purchases and , which is on the higher end of the spectrum. This APR applies from the moment you start using your card, making it important to consider how you plan to manage balances and payments.
Deferred interest on select purchases
Best Buy also offers cardholders financing opportunities that defer interest costs on eligible purchases. If you pay off a covered purchase within the specified timeframe, you won’t pay any interest.
For example, you might qualify for up to 24 months of interest-free payments on a home theater purchase of $999 or greater. If you pay off the amount within the required time, you won’t pay interest fees. But if you still have a balance after 24 months, you’ll be charged the full interest amount on the purchase.
Annual fee
This card comes with no annual fee, making it a cost-effective choice for consumers who are looking to earn rewards without the worry of an additional yearly cost. Since there’s no fee, cardholders can start benefiting from the rewards from their very first purchase.
Welcome offer
The welcome offer for the Best Buy Visa Credit Card is not as competitive as we’ve seen with since it’s only for a very minimal time. You’ll receive 10% back in rewards on your first day of purchases — as long as the purchase day is completed within 14 days of account opening.
Intro offer
The Best Buy Visa Credit Card does not currently feature an .
While not every rewards credit card includes these, the best ones typically offer some sort of a .
Rewards rate
The rewards program for the Best Buy Visa Credit Card is designed to benefit not just tech purchases but a range of spending categories:
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5% back in rewards on purchases made at Best Buy
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3% back in rewards for gas purchases
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2% back in rewards on dining, takeout, and grocery purchases
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1% in rewards everywhere else Visa is accepted
How to earn rewards
To earn rewards with the Best Buy Visa Credit Card, use your card for your everyday purchases in the specified categories (gas, groceries, etc.) to accumulate points.
There are some exclusions that do not qualify for rewards, including:
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Best Buy gift cards
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Purchases you made before you joined the rewards program
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Best Buy products purchased through third parties like Amazon or eBay
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Some commercial purchases
If you opt for special financing with your Best Buy Visa card and defer interest costs, your Best Buy purchase is not eligible to earn 5% back in rewards. You can either earn rewards or access specialty financing on a purchase, not both.
How to redeem rewards
Redeem your points via your online “My Best Buy” account, where you can also view your points balance, use your points, and see any promotions.
But just like with earning rewards, there are exclusions to how you can redeem them. For example, you may not use rewards to pay off your Best Buy credit card, buy gift cards, or purchase certain premium home appliances or home theater equipment.
Who is the My Best Buy Visa Card best for?
Given its unique benefits, rewards, and high APR, the Best Buy Visa card is most useful for avid Best Buy customers who want to earn points to put toward future tech purchases. Cardholders should aim to pay off their Best Buy Visa card each month, as any interest that accrues will eat into any potential savings the card may offer.
If you’re looking for a flexible , a , or a card with a , another card may better suit your needs.
My Best Buy® Credit Card vs. My Best Buy Visa Card
The My Best Buy Visa Card is the only Visa credit card offered by Best Buy.
The company also offers the My Best Buy Credit Card, which offers more limited benefits. You can use both to finance Best Buy purchases, access flexible financing options, and earn rewards points by shopping at Best Buy.
However, the My Best Buy Visa Card differs because it offers rewards on purchases made outside of Best Buy (including gas stations, dining, and groceries). In comparison, the My Best Buy Credit Card can only be used for Best Buy purchases.
My Best Buy Visa Card pros
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No annual fee: No annual fee keeps costs down for cardholders.
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High reward opportunities: Earn up to 5% back in rewards on Best Buy purchases, enhancing your buying power for electronics.
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Diverse rewards categories: This includes 3% on gas, 2% on dining, takeout, and groceries, and 1% on everyday spending.
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10% welcome offer: The welcome offer gives you an introductory boost to start earning rewards right away.
My Best Buy Visa Card cons
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Limited redemption opportunities: Rewards are not redeemable for cash back, acting instead as discount certificates for use at Best Buy or their online store.
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Rewards are subject to expire: Reward certificates come with an expiration date, adding a layer of management to ensure they’re used in time.
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No introductory APR offer: This means your purchases can begin accruing interest immediately if you don’t qualify for special financing opportunities.
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Highest rewards are limited: The best rewards rates (5%) are tied only to purchases made with Best Buy.
Where can you use My Best Buy Visa Card?
You can use the Best Buy Visa Card anywhere Visa is accepted. But, remember that you can only cash in those rewards at Best Buy.
How to make a My Best Buy Visa Card payment
Cardholders have five free options where they can pay their bill:
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Over the phone at 1-888-574-1301. You will need your account number and a check from your bank (U.S. only) when you call.
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Text the word “PAY” to the number 81964. You will need to be using the phone that’s registered to your My Best Buy online account and have a valid payment method set up. Citibank will confirm your identity before getting your desired payment amount.
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Send a check from your U.S. bank to the address on your statement. You will need to include your account number.
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Make a payment at a Best Buy store location.
My Best Buy Visa Card customer service info
Customer service is available in a few ways:
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For questions about your credit card account, view your or contact Citibank at 1-888-574-1301
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For questions about your My Best Buy rewards, call Best Buy’s customer care line at 1-888-237-8289
Alternative cards to consider
While the My Best Buy Visa Card may be a great option for Best Buy enthusiasts, some may find its offer restricting. If you’re looking for other retail card options or a more , here are our suggestions.
Why we like it: For those who frequently shop online at Walmart.com or in Walmart stores, the could be a great option. It offers an impressive 5% cash back on Walmart.com purchases, including pickup and delivery, which is perfect for regular Walmart shoppers. You can also receive 2% cash back on in-store purchases, as well as on fuel at Murphy USA and Walmart fuel stations, restaurants, and travel purchases. After this, all other purchases earn a flat 1% in cash back making it a versatile card for everyday spending.
With no annual fee, this card is nice for those looking to maximize rewards on their regular shopping without extra costs. Compared to the My Best Buy Visa, the may offer more value to those who prioritize cash back and savings on groceries and essentials over electronics and tech products.
Why we like it: For those who want convenience and savings on their grocery and travel expenditures, the is worth a look. It offers $100 Instacart credit and a complimentary one-year subscription to Instacart+ for new cardholders. The card’s reward structure is also appealing, offering 5% cash back on all Instacart app and Instacart.com purchases, as well as on travel booked through the Chase Travel Center.
The 2% cash back at restaurants, gas stations, and select streaming services and 1% cash back on all other purchases doesn’t hurt either. With no annual fee, the Instacart Mastercard offers substantial value for those looking to maximize their rewards on groceries and travel without additional costs. Compared to the My Best Buy Visa, this card may appeal more to those who spend heavily on groceries and travel, offering tailored rewards that can enhance savings and convenience in these areas.
Why we like it: For a more general rewards card, the offers a generous cash-back program that some retail cards can’t beat. With a one-time $200 cash bonus after spending just $500 within the first three months, it’s an enticing offer for anyone looking to get quick value from their card.
The unlimited 1.5% cash back on every purchase is an excellent rate for those who don’t want to track category spending. Plus, the 5% cash back on hotels and rental cars booked through Capital One Travel can benefit frequent travelers.
Coupled with the on both purchases and balance transfers for 15 months, this card offers a blend of flexibility and rewards that can suit a wide range of financial needs and spending habits. Compared to the My Best Buy Visa, the may appeal more to those looking for cash back on general purchases rather than specific rewards at Best Buy.
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers.