How To Earn Rewards From The Best Buy Credit Card
With the My Best Buy® Visa® Card, you’ll earn rewards for the following purchases:
- 5% back for Best Buy purchases or 6% back after you achieve Best Buy Elite Plus status.
- 5% back on travel
- 3% back on gas purchases
- 2% back for dining and grocery purchases
- 1% back on all other eligible purchases
You can become an Elite Plus member in two ways:
- Making $3,500 in purchases in a calendar year with your My Best Buy® Visa® Card
- Spending $3,500 at Best Buy with any credit card
Also, you can choose as a welcome bonus 10% back at Best Buy during your first day of purchase within 14 days of account opening.
My Best Buy Visa Card Review
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The My Best Buy Visa card offers 5% back in rewards on Best Buy purchases , limited-time bonus rewards categories, 2% back on dining and grocery purchases, and 1% back on everyday purchases. Unfortunately, the card’s application process and rewards programs can be confusing.
Accept The Fees And Rates Of Interest
Finally, you must agree to the Best Buy interest rates, charges, and fees after completing your application and selecting your preferred card. In general, the Annual Percentage Rate on purchases will be roughly 25.49 percent based on the current market interest rate. Interest charges start at $2 and can go considerably higher.
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Can I Use My Credit Card Without The Card
Normally, you cant use a credit card without restriction before it arrives, because you cant see the full credit card number, expiration date and CVV until you have the card in hand. Amex is the only card issuer that will give out a full card number that can be used anywhere upon approval of an application.
My Best Buy Visa Card Bonus
The My Best Buy Visa card bonus is disappointing but better than nothing. You can earn an additional 5% back in rewards above the standard 5% earning rates on your first day of Best Buy purchases as long as it falls within 14 days of account opening and you opt for standard, rather than flexible, credit.
Not all products qualify to earn My Best Buy Rewards. Some purchases at Pacific Sales Kitchen & Home Stores, a Best Buy subsidiary, are excluded. If you apply for the credit card in a store, online purchases may be ineligible for this offer even if made on the first day.
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Apply For Best Buy Credit Card : Steps To Get The Best Buy Credit Card Online
Get 5% back in rewards on all Best Buy purchases with standard credit.
Get 2.5 points per $1 spent on qualifying Best Buy purchases when you choose Standard Credit with your Best Buy Credit Card. If you are a My Best Buy Elite Plus member, youll get a 3 point bonus per $1 spent when using a My Best Buy Credit Card with Standard Credit. Points are not awarded on promotional credit purchases. Does not include tax. Additional limitations may apply. Subject to My Best Buy Program Terms. Offer valid on BestBuy.com and in select stores only.
Applying For A Credit Card Online
Meet the basic requirements. Before applying for a Best Buy credit card, keep in mind that you must be at least 18 years old in the United States .
How You Can Access Your Application
You can access the application after youve created an account on the Best Buy website. Through Citigroup Inc., they will lead you to the form.
To access the application, go to BestBuy.com, click the credit cards tab at the top of the page, and then select apply now.
The form will ask you for personal, financial, and security information, including:
Your email address
Your phone number
Your monthly mortgage or rent payments
Date of birth
Drivers license or government-issued photo ID number
The expiration date of your photo ID
Create a BestBuy.com Account
To apply for a store credit card, first, go to BestBuy.com and sign up for a Best Buy account. You can log in to your BestBuy.com account through the stores website if you already have one.
If youre creating an account for the first time, youll need to provide personal information to create the account and determine your eligibility, which includes:
first and last name
the password of your choosing
My Best Buy member ID
Choose Your Type of Card
They will deny it once you have completed the application. If youre approved, youll have an option of choosing between the Best Buy credit card and the Best Buy Visa card.
Agree to Interest Rates and Fees.
Await Your New Card
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Best Buy Credit Card Acceptability
The card can only be used solely at Best Buy stores and its official website. It is a kind of in-store credit that restricts its useability to the store only. It is not acceptable outside of Best Buy as it is not linked to any of the major financial card networks like Visa, Mastercard, or American Express.
Can Best Buy Look Up My Credit Card Info
For in-store credit card purchases and My Best Buy® members: If you paid by credit card, bring the credit card you used for the purchase. Well look up your receipt with your credit card. If you are a My Best Buy® member, we can look up your receipt by phone number, email address, or My Best Buy® member ID.
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Alerts Terms And Conditions
The alerting service allows you to request and receive messages about your credit card account.
By enrolling in or editing Alerts, you can subscribe to daily, weekly, or monthly account update notifications such as account balance, payment due, and payment posted, via SMS text messaging. Alerts will come from BestBuy® Credit Card Alerts, and you can text STOP to 21230 to stop Alerts, or text HELP to 21230 to receive help. For questions about the services provided, you can call . Message and data rates may apply, and message frequency varies by account settings. Alerts are supported by most major mobile providers in the US, including AT& T, Verizon, T-Mobile and Sprint. See our list of supported providers.
Alerts are effective as soon as you set them up in Account Online. You accept that each alert may not be encrypted, and may include your name and information pertaining to your account.
Shop Your Way Additional Category Earn Promotion
This promotion is not transferable is subject to credit approval and the Shop Your Way terms and conditions located at www.shopyourway.com/terms. Your Shop Your Way account must be linked to your Sears Mastercard as described above in order to participate in this promotion. You have the opportunity to receive Shop Your Way points for eligible purchases which are made and post to your Sears Mastercard account for 12 months from the month you link your Sears Mastercard to your Shop Your Way account. These extra points are inclusive of any base points earned. When extra point offers are combined, total points earned will be less than the combined point totals for each individual offer. Base points mean the 1% back in points described above which you will receive on purchases that are made outside of Sears, Kmart or other Program Stores or are described below as “certain non-eligible purchases”. Sears base points mean those points awarded as part the standard Shop Your Way program.
You may only earn 5% back on eligible gas station purchases and 3% back in points on eligible restaurant and grocery store purchases on the first combined purchases of $10,000 during the promotional period and then 1% thereafter.
2% back in points on purchases at Sears , Kmart, mygofer and for Lands’ End merchandise within Sears stores that are “qualifying purchases” under the Shop Your Way program during the promotional period and then 1% in Sears base points thereafter.
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Select The Sort Of Card You Want
A decision is made after youve completed the application. My Best Buy Visa or My Best Buy credit card are your options if youve been accepted for a card.
In-store incentives and promotional financing are available on both cards. It is possible to earn additional benefits on purchases made outside of Best Buy by using the Best Buy Visa Card.
Pros And Cons Of Best Buy Credit Card
Standard security features accompanied best Buy Credit Cards, including zero liability, fraud identification, and early warning notifications. Which will enable you to know your pros and cons.
Lucrative Rewards for Pros
If you update your gadgets and devices to their latest version from time to time, which means you would constantly make purchases from the Best Buy store.
This means that you would get 5% back on your purchase, which is added up and can incur more gadgets from the store.
Rewards on Other Purchases for Pros
Restricted Reward Usability for Cons
Rewards and earned on all purchases made and can make further purchases from the store.
Unfortunately, purchases can only use the rewards only on Best Buy and the reward redemption is usually not straightforward.
Also, points earned must be offered in increments of $5 for reward certificates.
Potential for Annual Fee for Cons
If you are not qualified for a platinum card which is usually because of faulty credit history, a Gold version of the card would offer which attracts an annual fee of $59 to get and use one.
Retail cards rarely charge an annual fee, so we would consider this a deal-breaker. You are better off if you are offering a store-only card with an annual fee exemption.
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Review: Is The My Best Buy Visa Card The Best Credit Card For You
When you apply for a Best Buy credit card, the one you receive will not necessarily be the one you want. There are three variants of the card, and the one Best Buy offers you is based on your credit.
The My Best Buy® Visa® Card is the most rewarding card. It earns up to 6% on Best Buy purchases, and it comes with various financing options depending on what you’re buying. You’ll even earn bonus rewards for spending at gas stations, restaurants, and grocery stores. The card comes with an annual fee between $0$59, based on creditworthiness.
Depending on your credit, Best Buy may alternately issue the My Best Buy Credit Card, which is a store card that can only be used at Best Buy. Earnings for Best Buy spend are identical to the My Best Buy® Visa® Card.
The My Best Buy® Visa® Card‘s up to 6% return rate is substantial and you’ll even get 10% back at Best Buy during your first day of purchases within 14 days of account opening. It also gives you the opportunity to pay off large purchases for up to three years without accruing interest.
There are a number of downsides, however:
If you’re happy to live exclusively within the Best Buy ecosystem, this card could be worthwhile. However, there are many other cash-back credit cards that are more practical for most customers.
Things To Know About The Best Buy Credit Card
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Electronics superstore Best Buy offers two co-branded store cards that earn rewards for shopping with the retailer. Carrying one of them might make sense if you do the bulk of your electronics shopping there, especially given how expensive devices like smartphones, HDTVs and laptops can be and how quickly they grow obsolete.
But rewards are redeemable only at Best Buy, and while the cards offer deferred-interest financing for certain purchases, a true 0% intro APR offer would be a safer bet in most cases. Plenty of other rewards credit cards offer more versatile and flexible incentives.
Here are five things to know about the Best Buy credit card.
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How Does The Best Buy Credit Card Compare To Others
Retailer credit cards are inferior to credit cards offered by banks. In that capacity, My Best Buy credit card does not perform much.
Also, if interest is inflated, low credit limits and the rewards you buy from it are just useful for additional purchases from Best Buy.
We compared how these cards perform against other options beneath and the catch is that you would require more to be eligible for better credit card offers.
My Best Buy Credit Card Vs Citi Double Cash Card 18 month BT Offer
We consider the Citi double cash card one of the best fixed-rate cash back credit cards. The card allows its clients to earn 2% on each purchase with limitless 1% cashback when you purchase, besides an extra 1% as you pay for those purchases.
In comparison, it matches or beats all the rewards on the Best Buy credit card except for shopping from Best Buy stores.
The Citi double cash card rewards cardholders with statement credit, which is flexible than the rewards certificate earned with my best buy credit card.
The statement credit can be used to offset desired expenses on your credit card bill.
The Citi double cash card is relatively more flexible and adaptable compared to the Best Buy credit card.
Who Should Consider The My Best Buy Credit Card
Individuals looking to make a significantly large purchase at Best Buy in a single day to either take advantage of the one-time 10% reward, or the promotional 0% interest rate financing options should consider a My Best Buy Credit card. Additionally, anyone who shops at Best Buy frequently enough that the higher rewards rate of a My Best Buy Card , as opposed to a standard cashback credit card of 1%-3%, is worth the hassle of rewards only being issued in the form of rewards certificates. Like many store credit cards, Best Buy issues rewards this way to keep customers coming back in and spending money so they can use their certificates. Individuals considering this credit card should carefully consider whether they will spend more than they mean to as a result of the rewards certificate system.
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How The My Best Buy Credit Card Works: Benefits And Rewards
Rae Hartley Beck has more than eight years of experience writing about personal finance, starting with an advice column in her college newspaper, which helped students learn about saving, wise spending, and budgeting on limited means. Her expertise includes mortgages, credit card rewards, and personal finance. She has a bachelor’s degree from Berea College.
Best Buy is a consumer electronics retail chain with more than 1,000 locations and approximately 100,000 employees located throughout the United States and Canada. Best Buy provides a variety of products through its national store network and online including appliances, computers, cell phones, gaming systems, sound systems, hardware, software, and entertainment products. Like many national retailers, Best Buy provides credit financing options for their customers that include credit cards. Best Buy offers both a store credit card and a co-branded general use Visa credit card to consumers that allow the choice of earning rewards or receiving special financing terms.
Full Review Of My Best Buy Visa Card
At least 5% back in rewards on Best Buy purchases, or flexible financing
10% back on your first day of Best Buy purchases
Other bonus categories sometimes available
Confusing application process considers you for several cards
Potentially misleading rewards rates
Many limited-time offers add unpredictability
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