– Best Buy Credit Card –
Best Buy Credit Card: Best Buy is one of the largest retailers of consumer electronics in the world and sells computers, smartphones, gaming systems, and more. The company offers several store credit cards to reward customers for purchases, including the My Best Buy® Credit Card.
If you sign up, you’ll be able to earn 5% rewards on everything you buy at the store, which you can redeem for Best Buy gift cards. Once you spend $3,500 in a year and qualify to be an Elite Plus cardmember, you’ll earn 6% on purchases. As far as store credit cards go, this is a very competitive rewards rate.
Best Buy Credit Card Customer Service
- J. D. Power 2019 customer satisfaction rating: 799 (45% of issuers ranked higher)
- 24/7 customer service?: Yes
- Online chat available?: Yes
- Google Play Store mobile app rating: 3.9/5
- Apple Store mobile app rating: 4.8/5
Why We Like Them
- 5% back in rewards at Best Buy
- 10% back in rewards on your first day of purchases within 14 days of opening the account
- Flexible financing options. Instead of receiving rewards, you can get deferred interest financing on purchases of $199 or more.
- My Best Buy membership perks, and an easier path to higher status levels
- Valuable welcome bonus. You’ll get 10% back or flexible financing on your first purchase with your credit card. If you buy an $850 iPhone, for example, you’ll get interest-free financing for 24 months or an $85 gift card.
- Extra perks. Your card comes with benefits like free shipping on purchases of $35 or more, a complimentary birthday gift, and access to special sales.
- Four ways to pay. Pay your bill in the way easiest for you, including online, in-store, by mail or by phone.
- No annual fees, but only if your credit is good enough
Why They Could Be Better
- Rewards have to be used at Best Buy, or with promotional partners
- Deferred financing offers may sound good but they can result in huge interest charges
- High APR. This card has an APR of 25.24% on most purchases, which is on the high side. If you want to avoid interest charges, make sure you pay off your balance in full each month or before your deferred interest period is over.
- Some applicants will get a card version with a $59 annual fee, based on credit history
- High-interest charges on special financing offers. If you don’t pay off your balance in full before the end of the deferred interest period, you’ll be charged interest starting from the purchase date. Since this card has a high APR, you could end up paying a lot of interest.
- Many reports of poor customer service
The Best Buy cards may be useful for people who spend a lot of money at Best Buy every year. But there are many other good card options that can provide rewards at a wider variety of retailers, with 0% intro rates that don’t use deferred financing.
Where Can I Use The Best Buy Credit Cards?
- The My Best Buy Credit Card can only be used at Best Buy and BestBuy.com
- The My Best Buy Visa can be used anywhere Visa cards are accepted
Best Buy accepts Visa, Mastercard, American Express, and Discover cards as payment methods, in addition to its own co-branded cards.
Insider Advice: How to Get the Most Out of Your Cards
- Go for the rewards option: When making certain purchases at Best Buy you’ll be able to choose between earning rewards (the “Standard Credit” option) or taking a deferred financing offer. We recommend taking the rewards in most situations.
- Be careful with deferred financing offers: If you take a deferred financing offer, make it a priority to get all your monthly payments in on time, and to pay off the balance by the end of the term.
- Be aware of your account and statements: Many people report being confused or misdirected by their account information or statements with these cards. Stay on top of your monthly statements to help avoid any nasty surprises.
Best Buy’s store credit card is ideal for loyal customers who don’t buy tech anywhere else. It offers a high rewards rate on purchases and flexible financing options to help you save money on interest.
Keep in mind you can only earn rewards at Best Buy and redeem them for store credit. If you aren’t a frequent customer, you may not get a lot of value out of this card.
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