The Best Buy credit card is available in three different variants, but when you apply for it, the one you will get is not necessarily the one you want. The decision of the card that Best Buy will give to you has to do with your credit rating.
The My Best Buy Visa Card rewards you with up to 6% cashback on store purchases. It also has a range of financing options available, based on what you purchase
The annual fee ranges from $0 to $59 dollar, but it will depend on your credit history. The My Best Buy credit card can also earn you rewards for buying things at grocery stores or gas stations.
If you’re issued the My Best Buy Credit Card, you’ll only be able to use it at Best Buy, compared to the Best Buy Visa Card.
If you’re looking for the type of card that can provide a substantial rewards rate, then look no further than the My Best Buy credit card. When you use your card at Best Buy, you’ll get 10% back on all purchases during your first 14 days of account opening. It also includes the 6% cashback.
Best Buy Credit Card – Is It Worth It In 2023?
- Up to 6% cashback on your purchases at Best Buy
- Select Best Buy purchases offer no interest up to 36 months
- No annual fee
- Rewards are only available for at Best Buy
- Signing up for this credit card will introduce deferred interest which you won’t want to happen as it will cost you money. To avoid any potential issues always make sure to pay your balance before the deadline.
- Compared to other credit cards, you won’t get purchase protection or extended warranties. If you’re buying expensive electronics, this may not be the best option.
If you’re absolutely dedicated to only buying Best Buy items, then this card may be a good fit for you. If not, there is a whole range of other credit cards that will provide a higher return per dollar spent.
Rewards In Detail
You can earn the following with the My Best Buy Credit Card:
- 5% back (2.5 points per dollar) for Best Buy purchases — or 6% back (3 points per dollar) after hitting Elite Plus status.
- 5% back (2.5 points per dollar) on travel (ends December 31, 2021)
- 3% back (1.5 points per dollar) on gas purchases
- 2% back (1 point per dollar) for dining and grocery purchases
- 1% back (1 point per $2 in spending) on all other eligible purchases
How to qualify for the Elite Plus Level:
- Making $3,500 in purchases in one calendar year
- Spending $3,500 at Best Buy with any credit card
You can also take advantage of a promotion and receive 10% back on your purchases for your first purchase within 14 days of opening your account.
How to use Best Buy points
The My Best Buy Visa Card earns points that can be redeemed for strictly Best Buy merchandise. It’s like a cashback card, but you only spend it at one store.
Every 250 points you earn will give you a $5 certificate at Best Buy.
If you spend $1,000, you’ll earn $50. Keep in mind that the gift certificates are only active for 60 days before you lose it.