My Best Buy Visa Card: Best for Serious Best Buy shoppers

The My Best Buy® Visa® Card, issued by Citibank, is a card with many requirements. It can be great for Best Buy loyalists as long as you understand the risks and limitations.

If you I love shopping at Best BuyThe Best Buy Visa offers competitive rewards for both Best Buy purchases and everyday spending categories such as: gas, Groceries And Eat. The welcome offer – 10% refund on the first day of Best Buy purchases or financing – has the potential to be lucrative if you can take full advantage of it. This card also offers deferred interest on some payments, which can help you finance large purchases interest-free – as long as you can pay off the balance within your flexible financing period.

But you should really love shopping at Best Buy to maximize the benefits of this card, because that’s the only place where you can spend your rewards.

If you’re a Best Buy enthusiast, the My Best Buy Visa Card might fit snugly into your wallet — but if you’re not, other cards with comparable benefits but more redemption options might be better for you. Here’s what you should know before you apply.

In this article:

My Best Buy® Visa® card

Introductory offerIntroductory offer: 10% as a bonus back on the first day of purchase or choose financing

APR30.74% variable

Introductory Purchase APRN / A

Recommended credit Excellent credit

bonus rates

• 5% back* in rewards
• 3% back* as a bonus on petrol purchases
• 2% discount* on dining and grocery shopping rewards
• 1% back* in rewards for daily purchases

annual feeN / A

• 5% back* in rewards
• 3% back* as a bonus on petrol purchases
• 2% discount* on dining and grocery shopping rewards
• 1% back* in rewards for daily purchases

Reward

The My Best Buy Visa Card gives you two options when shopping at Best Buy. You can refund 5% as a reward or opt for flexible financing on qualifying purchases. When you choose rewards, you get 5% off Best Buy purchases, 3% on gas, 2% on groceries, 2% on takeout and 1% on all other purchases.

Your rewards will be credited as My Best Buy points. These points are issued as Reward Certificates that serve as coupons toward future Best Buy purchases. When you spend $500 at Best Buy, you will receive 1,250 My Best Buy points, which currently equates to $25 in Reward Certificates. You can redeem these points for a $25 discount on your next qualifying Best Buy purchase.

My Best Buy members can earn rewards for every purchase made, regardless of whether they have a My Best Buy credit card. You need a minimum of 250 My Best Buy points to redeem a $5 Reward Certificate, and certificates can be used towards in-store or online Best Buy purchases. Certificates expire 60 days after issuance unless otherwise noted. However, cardholders can save their points until redeemed.

Note that if you choose flexible financing, you won’t earn any rewards on Best Buy purchases, giving you more time to pay back your balance.

Flexible financing

Instead of earning premiums, you can defer interest and buy more time to pay for a purchase over $299 with flexible financing. Timeframes for the deferred interest offers range from six to 36 months and vary depending on what you’re buying and how much you’re spending. We recommend that you exercise caution when using this option and only opt for a flexible payment plan if you can repay the balance in full before your interest accrual expires.

Deferred interest is not the same as 0% introductory APR. With most 0% Introduction APR Credit Cards, your remaining balance will earn interest at 0% effective annual interest after the end of the promotion period. The Best Buy Visa card will accrue interest during your promotional period, but as long as you pay your balance in full before the end of the promotional period, you will not owe any interest. Otherwise, you will earn new interest for all interest accrued on your balance since the original purchase date and for each month that you carry that balance. This could make flexible financing more expensive than a 0% APR card, especially since the Best Buy Visa Platinum card’s current variable APR of 30.74% is significantly higher than the average credit card’s 20.3% APR.

welcome bonus

New cardholders have the opportunity to get 10% back on the first day of qualifying Best Buy purchases or financing. You also don’t have to make these purchases on the same day you apply for the My Best Buy Visa Card – you have 14 days after account opening to take advantage of the welcome bonus on day one. Since cardholders are already earning 5% on all purchases, this welcome bonus essentially lets you earn an additional 5%, which can be lucrative if you’re looking to buy large items.

How much this bonus is worth depends entirely on how much you can spend in a day at Best Buy. If you buy a $500 phone or a $1,000 laptop, you’ll get $50 and $100 in rewards, respectively — less than the $200 sign-up bonus commonly seen among others free annual fees can be found Cash Back Cards. But if you’re looking for a new fridge, stove or other appliance and planning to spend $10,000, you could make $1,000 with this welcome bonus. Just make sure you don’t overspend to earn this welcome bonus or the accruing interest can quickly overwrite your bonuses.

When you use your 10% welcome bonus, you cannot simultaneously use flexible financing for the same purchase.

Exclusive offers

My Best Buy Visa cardholders have the opportunity to take advantage of time-limited bonus categories and exclusive offers. You can view and activate these offers from your online account.

annual fee

There are two versions of the My Best Buy Visa Card and the card you receive will depend on yours credit-worthiness. When you apply, you’ll be first considered for The My Best Buy Visa Platinum card, a no annual fee card designed for those with a positive credit history. If you are not eligible for this version, you may be eligible for the My Best Buy Visa Gold card, which offers the same rewards opportunities as the Platinum card, but with an annual fee of $59.

Alternate Maps

Amazon Prime Rewards Visa Signature Card

If you use Amazon Prime regularly, this is something to consider Amazon Prime Rewards Visa Signature Card. This card with no annual fee offers 5% discounts at Amazon and Whole Foods Market eligible Prime membership (which costs $139 per year) and 2% refunds at restaurants, gas stations, and drugstores. All other purchases receive 1% cashback, and new cardholders can receive an Amazon gift card worth up to $100 immediately upon approval.

The Amazon Prime Rewards Visa Signature card also offers flexible rewards redemption options, giving you the ability to convert your rewards into bank statements, bank deposits, discounts on Amazon purchases, and more. Like the Best Buy Visa card, the Amazon Prime card offers ad financing with equal monthly payments at 0% APR, although using ad financing prevents you from making any money back on that purchase. However, the Amazon Prime card offer is better than the Best Buy Visa because if you don’t cash out your entire balance before the end of the promotional period, all you have to do is pay interest on the unpaid balance. in lieu of any interest on the original balance.

Aim RedCard™

If you shop at Target more often than Best Buy, take a look at the Aim RedCard™. This retail credit card has no annual fee and automatically offers a 5% discount on all Target purchases. When you shop online, you’ll automatically get two days of free shipping on all qualifying purchases.

The Target RedCard also offers 2% rebate on food and gas, 1% rebate on all other purchases. The rewards you earn for food, fuel, and other purchases can be redeemed for Target gift cards.

Capital One Walmart Rewards® Mastercard®

Walmart shoppers who like cash back rewards should consider this Capital One Walmart Rewards® Mastercard®. This no annual fee credit card offers 5% cashback on Walmart.com purchases, including pickup and delivery, and 2% cashback on purchases at Walmart stores, Murphy USA, and Walmart gas stations. You also get 2% cashback on dining and travel and 1% on all other purchases.

The Capital One Walmart Rewards Mastercard does not offer a welcome bonus, but new cardholders can increase their in-store rewards from 2% to 5% during their first year of membership by using Walmart Pay for purchases at Walmart. Your cashback is credited as Capital One Rewards points and gives you multiple redemption options – statements, gift cards, trips and more.

frequently asked Questions

*All information about the Target RedCard, Amazon Prime Rewards Visa Signature Card, Capital One Walmart Rewards Mastercard, and My Best Buy Visa Card was independently collected by CNET and has not been verified by the issuer.

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