Best Buy Credit Card
Best Buy Credit Card: If you are a regular shopper at Best Buy or BestBuy.com, then you can benefit from this credit card. You have two options to choose from while subscribing for a card – My Best Buy™ Credit Card and My Best Buy™ Visa (formerly MasterCard).
Pay your bill in full every month and make all your expensive purchases like electronics from Best Buy and you would seem to get some of the best payoffs with this retail credit card.
Terms & Fees
• Annual Fee: $0-$59 (varies as per the credit score of the cardholder)
• Purchase APR: 25.24% Variable
• Cash Advance APR: 27.99% Variable
• Cash Advance Fee: 5%, $10 Minimum
• Foreign Transaction Fee: 0%
• Balance APR: 25.24% Variable
• Balance Transfer Fee: 5% or $15, whichever is greater
• Late Fee: Up to $38
• Return Payment Fee: Up to $38
Quick Facts
• You will need a good credit score to apply for either of these cards
• You can fill one application to apply for this card and Citibank will issue one of their cards depending on your creditworthiness. These cards include My Best Buy Visa Platinum, My Best Buy Visa Gold, My Best Buy Credit Card and My Best Buy Credit Card Preferred
• My Best Buy Credit Card can be used only at the Best Buy stores and BestBuy.com while My Best Buy Visa Card can be used anywhere the Visa credit cards are accepted
• You will have to enroll for the My Best Buy Program that is managed by Best Buy by registering your card on their website online to activate it
• You can choose between 6, 12, 18 or 24-month financing options
Earning the Rewards
• For every $1 you spend at Best Buy, you will get cash back of 2%
• If you make a minimum purchase of $399, then you can alternate your cash back with a 12-month financing option
• With My Best Buy Visa Card, you will earn 2% cash back on every $1 spent at restaurants and grocery stores
• There is 1% cash back on every $1 spent on miscellaneous expenses for Visa cardholders
• You will be eligible to earn 5 points (10% cash back) on every $1 spent on your first purchase made with the card, within the early 14 days
• If you choose flexible financing options or 5% back in rewards, you will earn a reward certificate of $5 for every 250 points accumulated
Redeeming the Rewards
Since it is a store credit card, you can redeem the points accumulated with your purchases only at Best Buy stores or BestBuy.com.
Benefits to Cardholders
• The more you spend with your Best Buy Credit Card in a given year, you get a promotion to the status of an Elite or Elite Plus card holder, which ensures an even cheaper shopping experience at Best Buy or BestBuy.com
• You get free shipping on the minimum purchase value of $35 in case you are a Basic membership holder, while there is no minimum purchase value for Elite and Elite Plus members
• You get access to all the members-only offers and discounts, which include 15% off on regular-priced K-Carafe and K-Cup packs, 15% off refrigerator water filters, 15% off on toner and ink, and $10 in reward certificates per video game if pre-ordered
Verdict
Since all the Best Buy Credit Cards have almost same benefits, you will get good benefits with either one of them. If you make repeated purchases or bulk purchases, then you can really benefit with their special offers on expensive items for the card holders and free shipping facilities.
