Can I Use My Best Buy Credit Card Anywhere?

Are you a Best Buy credit card holder and want to use it for anything at any place? If so, you are at the right place. 

No. You cannot use “My Best Buy Credit Card” anywhere. It has its limitations. You can use this card only in Best Buy stores. Another option to use this card is to buy from best buy’s official website ( bestbuy.com).

If you want to know everything about your Best Buy Credit Card and how it works, keep reading!

What is the Best Buy Credit Card?

My Best Buy credit card is a particular type of in-store credit specially made for Best buy customers. CitiBank issues this closed-loop credit card. If you use my best buy credit card balance for your online or in-store purchases, you can get 5% cash back incentives. However, one thing you should keep in mind is that it is not a general card, meaning you cannot use it anywhere else, like Amazon or Walmart, etc. 

Best Buy is one of the leading electronics retailers. Through My best buy credit card, it offers special financing programs to its regular customers. It comes up with many benefits for its users, some of which are listed below. Let’s have a look.

• 5% cash back in rewards for regular customers. 
• 6% cash back in rewards for its Elite Plus customers. (You can become one by spending $3500 at Best Buy or any affiliated store)
• Flexible Financing 

How Does it Work?

My Best Buy credit card will only work if you buy from the best buy store or its official website, in case of online purchases. The APR (annual percentage rate) for my best buy credit card (standard) is relatively high. On the other hand, the card’s visa version also has a higher annual percentage rate unless you make larger purchases based on promotional financing.

If you want to be a My best buy credit card holder, you will need to clear your credit history. It is an essential requirement for users to gain cards. People with general 600 to 699 credit scores are eligible for Standard best buy credit cards.

 So, make sure your credit history is valid. In addition, if you pay your monthly fixed payments timely and cover your balances within the promotional period, you will be exempt from any interest rate.

Types of Best Buy Consumer Credit Cards

There are two types of Best Buy Credit cards available for customers. Let’s learn more about these types. 

Visa Cards

This type of Best buy card is known as an open-loop credit card.. You can use the best buy visa card anywhere in the world that requires a visa. The best buy visa card has an APR of 25.24%. You can earn up to 6% rewards and cashback on best buy purchases. More shopping leads to more bonuses and balance transfer ability. 

It has two other types that are described below. 

Best Buy Visa Platinum Card 

Best Buy Visa Platinum card has higher spending limits and increased potential. The fact that makes it unique and the best choice is that it has no annual fees. It means you don’t have to pay for it, let it be monthly or annually. 

Best buy Visa Gold Card

Best Buy Visa Gold Card is no different than Visa Platinum or standard credit card. The only difference between the two cards is the annual fees. As mentioned above, there are no annual fees for a best buy visa platinum card. In contrast, $59 is charged annually for the Best Buy Visa Gold Card.

Standard Cards

Standard card or My best buy credit card is a closed-loop card issued and offered by Best Buy. CitiBank sponsors this card. You can only use it in best buy stores and redeem 5% cash back as a reward. Moreover, this card will be handy if you purchase online from the official best buy website. 

Visa Cards vs. Standard Cards

Best Buy Visa cards and standard care are two different things. Both of them are unique in their own ways. We can differentiate between them in light of the following points. Let’s have a look. 

Usage

The main difference between Best Buy Visa cards is that you can use them anywhere in the world. In contrast, you can use standard cards only for in-store and online purchases through bestbuy.com. 

Rewards

If you purchase through the standard card, you will get 5% cashback in rewards only from in-store purchases. You can redeem your 6% cash back in rewards from any investment from your visa card but from the best buy purchase. 

Annual Fee

The annual fee for standard card holders is $0. However, for Visa card holders, it ranges from $0 to $59 depending on the type; platinum or gold (where $59 is for gold visa card holders.) 

APR (Annual Percentage Rate)

The annual percentage rate for Best Buy standard and Visa cardholders is 25.24%. It can fluctuate based on financing choice. It means that if you choose the special financing program, then the APR can change. 

Late Fee

It would be best if you cleared your credit balance before the deadline to avoid paying a late fee of up to $40. It applies to both cards, i.e., Best Buy Visa and Standard Credit cards. 

Applying for a Best Buy Visa Card

If you are a die-hard shopper of Best Buy, having a Best Buy Visa card will get you considerable discounts. Getting a Best Buy Visa card is relatively easy, though. There are two methods to follow if you want a best Buy Visa card. Either you can do it online, or you can apply for it in-store. We have tried our best to get all the information for you. 

Applying Online

If you choose to apply online for the Best Buy Visa Card, you must go through the process discussed below.

Meet The Qualifications

If you want to apply for a Visa card, ensure you meet the minimum qualifications for the Best Buy Visa card. 

• Must be 18 (US) and 21 years (Puerto Rico).
• Must possess a social security number
• Must have a driving license or government ID. 
• Create A Bestbuy.Com Account

The first step to online applying for a visa card is creating a best buy account. Provide details like first and last name, email address, phone number, password (you can choose whatever you want), and My Best Buy member ID (if you already have one). If you already have a best buy account, you must sign in. 

Complete The Application

Next, go to the website, click the credit cards tab and then go for “apply now.” You will be directed to the application form. Fill out all the requirements. Usually, the requirements are only basic information like:

• Full name
• Email Address
• Address
• Contact number
• Date of Birth
• Your annual income
• Your mortgage or rent minimum payments
• Social security number
• License or Government ID
• The expiry date of your ID 

Choose Your Type Of Card

After completing the application form, either it will be accepted or rejected. If your application is approved, you will need to choose the type of your card – store credit card or visa card.

Agree To Interest Rates And Fees

The final step is to agree to the card’s interest rates and fees. Regarding interest rates, the APR is variable according to the market. The interest charges are $2 (which can be high). But they are applicable only if you fail to clear the due payments. The grace period is usually 25 days. If your expenses are overdue, you will have to pay a late fee.

Await Your Card

Now that you have finally cleared all steps and agreed to all conditions, wait until you receive your new card. It will come to you within seven to fourteen days by mail. 

Applying for VISA Card In-Store

To get a best buy visa card in-store, you must follow the following steps.

• Find The Best Buy Store Near You

The very first step involves locating the nearest best buy store. You can find the nearest branch by navigating it through the official website. Go to the store locator tab and enter your ZIP code, city, or state. 

• Submit An Application

Fill out the application form. Provide the details like your name, address, basic financial information, etc. The store will check your credit history and do all the legal checks to determine if you are qualified for the application. 

• Choose Your Card

Next, you will be asked to choose your type of card. It depends on whether you want a Best buy Visa card or a standard card. For your information, both offer the same rewards, but with a visa card, you can enjoy additional benefits such as 3% cash back on gas, 2% on dining and grocery stores, and 1% on every other purchase. 

• Collect Your Card

If you are accepted for the card, you will receive it within seven to fourteen days after applying. You will usually receive it by mail. 

Sign-Up Bonuses

When your application is approved, you will know it by the next minute. You will receive a 10% reward as a sign-up bonus. You can use this reward when you purchase for the first time after receiving your best buy visa card. 

In other words, you will receive additional 2.5 reward points. For example, if you purchase $2000, you will get 10% of it in cashback rewards, i.e., $200. The catch is to buy within fourteen days of opening the account. 

Best Buy Account Login & Management

You can manage your best buy account online very quickly. All you need to do is log in to your account on best buy’s official website. You can also use the Citi bank portal to manage your account. 

To login into your best buy account:

• Firstly, you will need to go to the website page, which is bestbuy.com. 
• Go to the accounts tab and select sign in. 
• After that, enter your email address (the one used while making the account). 
• Now enter your password, and you are good to shop. 

Take a Look at How to Activate Best Buy Credit Card Online?:

How To Manage Your Best Buy Account?

Managing your Best Buy credit account is necessary to balance the company’s liquidity. If you manage your account properly and on time, you can easily avoid late payments. It will help Best Buy to regulate its customer relationships and reduce risks such as fraud, etc. 

After logging into your account, you can execute the following functions in your account. 

• View all your transactions and everyday purchases in the form of an online statement. 
• Clear your bills
• See your account activity
• Discover new offers
• Initiate an alerts system. 

Your online statement will help you get an insight into how you have used your best buy credit card balances. Clearing your bills on time will save you from interest payments and late fees. Moreover, whenever Best Buy gives exclusive offers or sales, you will know right after by initiating alerts. 

Where Can You Use a Best Buy Credit Card?

If you are a best buy standard card holder, you can use it to make an online purchase from bestbuy.com – the official website only. You can also use this specific card when purchasing from the nearest Best Buy store. Other than that, your best buy standard credit card is no use. 

If you possess a Best Buy Visa Card, you can use it anywhere internationally where a visa is mandatory. You can use your Best Buy visa card at gas stations and restaurants. As for the well known stores like Amazon, Costco, and Walmart, your Best Buy credit card is not applicable. 

As for the rewards, you can only redeem your rewards in a Best buy store. Think of it as gaining points from shopping worldwide, but you can use them only in the best buy store. 

Benefits & Rewards of a Best Buy Visa Card

With the best buy visa card comes the associated benefits and rewards systems. But you will need to enroll in best buy programs and activate your card to receive benefits. As a Best buy Visa Card holder, here’s how your rewards will be

5% Back

If you choose standard credit with your best buy card, you will get 5% back in reward, which is 2.5 points per dollar. Now, for example, if you spend $1000, then 2.5 points per dollar will be a 2500 points reward for you. 

6% For Elite Plus Members

If you are an elite plus member, you will receive 6% cashback, 3 points per dollar. Overall, it becomes 300 points on $100 spent. 

3% On Gas Purchases

Best Buy Visa cardholders will receive 1.5 points per each dollar spent at the gas stations or on fuel purchases. Standard cardholders cannot enjoy these enhanced rewards features usually. 

2% On Dining And Groceries

If you possess the best buy Visa card, then you can get 2% back on spending money on dining and groceries. It will be 1 point per 1 dollar each. 

1% Back 

If you purchase at any other store, you will receive 1 point for every $2 spent. However, it has a condition. It will be applicable only if the merchant is accepting a Visa. 

Fees & Drawbacks Of A Best Buy Credit Card

Let us shed some light on the flaws here. 

Annual Fee

Best Buy Credit card has a $0 annual fee if it is of standard type. But if it is the best buy visa card, its yearly fee can range from $0 to $59, depending on its tier. If it is a gold card, then the cost is $59. Otherwise, for a platinum one, the fee is $0.

APR

The standard APR rate is 25.24%. But it can shoot up if you move forward to cash advance or balance transfer. For a cash advance, APR will become 27.99%, and its fee will be 10% or 5% of the total amount. In the case of balance transfers, the APR is usually 25.24%, but the fee is $15 or 5% of the total amount. All these costs can be much higher than you are told at first. 

Late Fee 

You must know that you must clear your payments within 60 days of every transaction cycle. If you cannot do so, you will have to pay a late fee of up to $40 every time. So you will be in real trouble if you cannot clear your payments on time or in case your check bounces. 

Other Drawbacks

The fundamental drawback of best buy credit cards is that although it can be used anywhere, the points you earn through reward certificates are only applicable in best buy stores. 

Best Buy Program

The Best Buy Program offers several benefits, including cashback, reward points, etc. According to this program, you will receive 5$ for every 250 points you make. When you complete your best buy visa card application, you automatically enroll for the best buy program. As a Best Buy Visa card holder, you can enjoy the following benefits;

• Exclusive sales offers
• Free shipping and delivery on a $35 order
• In-home consultation (free of cost)
• A birthday gift

Your Visa card also helps you in 

• Preventing any fraudulent activity
• Emergency card replacement
• Travel assistance

Credit Card Registration

To register your Best Buy credit card, follow these steps

• Login to your Best Buy account or visit Citi activation website 
• Select card activation
• Enter your card number
• Enter your security code
• Identify yourself by entering your date of birth
• Lastly, enter your 4-digits social security number
• Click “Activate the card”. 

Another way to start your credit card is to call (888) 574-1301. It is an auto-response system, you can direct your need to customer service, and they can help you with it. 

Rewards Certificates

After entering the Best Buy Program, you will be considered a best buy loyalty program member. According to the program, your rewards will be considered as points. These points will get you to reward certificates. 

Best Buy cardholders receive reward certificates for every 250 points. So, if you have completed your 250 points, check your mail, you must have gotten the certificate by now. The only limitation with these reward certificates is that you can use them only in best buy stores or bestbuy.com. 

Special Financing Options

If you are a best buy credit card holder (visa or standard), the company must have offered you some special financing options, also termed flexible financing. There are some options available to choose from. Some of them are listed below:

• $199 in addition, as six-month financing for purchases
• $299+ as 12-month financing purchases. 
• $499+ for appliance purchases (18-month financing) (limited-time offers)
• $999+ (or more) for home theater purchases (24 months financing offer) (limited time offer)
• $649+ on geek squad purchases (24 months financing)
• $799+ on exercise equipment purchases (24 months financing offer)

Remember that you will not receive 5% cash back in rewards if you choose any special financing offers. 

What is Deferred Interest?

Deferred interest is when the interest of your borrowed money is delayed for some time. The period to pay back the amount is usually 6 to 36 months. It is for sure an attractive deal but is unreliable. Failing to clear your balance will cost you a lot. For example, if you made a purchase and have not cleared your credit even after the payback period, you will have to pay full interest on it, even on the first day you made the purchase. 

The drawback to deferred interest is the waived interest. If you fail to clear your payments by the end of the deferred period, you will have to pay a total amount of interest APR, i.e., 25.49%. If you clear your payments within the given time, your payments will be closed with 0% APR. 

FAQs

Conclusion

If you are a loyal customer of Best Buy, owning a Best buy credit card or Visa card will benefit you. It will allow you to receive cashback rewards, multiple special financing offers, and other significant benefits. 

Best Buy credit cards, especially the Visa card version, are attractive. But with benefits, some negative perks are also attached. The best buy credit card is a good choice if you usually make larger purchases. But if you prefer the flexibility of rewards redeeming, you can check out other alternatives.