Rewards Plan
Sign up Bonus
Credit Rating
0% Intro
Annual Fee
APR
- 5% Rewards on Best Buy
- Everyday Spending Rewards
- No Sign-Up Bonus or 0.00% APR Introductory Rate
- Redemption Restrictions
On Citi’s Secure Website
Rewards Plan
Sign up Bonus
0% Intro
PROS
- 5% Rewards on Best Buy
- Everyday Spending Rewards
CONS
- No Sign-Up Bonus or 0.00% APR Introductory Rate
- Redemption Restrictions
APR
29.24% Variable
Annual Fee
Balance Transfer Fee
$15 or 5%
Credit Requirements
Good - Excellent Credit
The Best Buy Visa Card is a store rewards card that offers great benefits for big Best Buy spenders. This is a Visa card and the card is accepted everywhere Visa is, meaning you do not just have to use it at Best Buy.
Cardholders receive 5% back in rewards on shopping at BestBuy ( 6% back* in rewards for Elite Plus Cardmembers), 3% back in rewards on gas purchases, 2% back in rewards on dining, takeout and grocery purchases, 1% back in rewards on everyday purchases.
In the right setting and for big spenders at Best Buy, this card is great. If that does not describe you, you may want to look for other rewards cards that offer bigger benefits.
- High Rewards on Best Buy
- Visa Benefits
- Other Benefits
- No Foreign Transaction Fee
- Earn More as an Elite Plus
- Annual Fee
- No Sign-Up Bonus or 0% APR Introductory Rate
- High APR
- Redemption Restrictions
- Confusing Application Process
How’s The Card Customer Service Availability?
This card is part of the Citi product line, so you can access the Citi customer service team 24/7 if you have any queries or questions. You can also access support via the website and app.
How Hard Is It To Get This Card?
You do need a good to excellent credit rating to qualify for this card. Citi will assess your income and employment status as part of the application approval.
So, if you’re unsure if you have a good enough credit rating, you may be better suited to a card that is available to those with fair credit.
When You Shouldn't Consider It?
Since the card rewards are so weighted towards Best Buy purchases, if you’re only a casual shopper with the brand or you tend to have a wide variety of spending habits, you may find other reward cards offer better incentives and perks.
What Purchases Don't Earn Cashback?
The tiered reward structure for the Best Buy Citi card allows for you to earn points on practically any purchase.
However, there are some exclusions including commercial purchases, payments made on your Best Buy card, purchases paid with a gift card or reward certificate, certain fees and charges, Thermador products and Apple and Beats products not purchased on standard credit.
In This Review
Benefits
Let’s take a look at the benefits of the My Best Buy Visa card and see if it’s the right one for your wallet or not.
- High Rewards on Best Buy
Best Buy Visa Card cardholders receive 5% back in rewards on shopping at BestBuy ( 6% back* in rewards for Elite Plus Cardmembers), 3% back in rewards on gas purchases, 2% back in rewards on dining, takeout and grocery purchases, 1% back in rewards on everyday purchases
Every 1,000 points is equal to a $20 certificate to be spent at Best Buy.
- Visa Benefits
Best Buy Visa Card also comes with many of the benefits Visa offers which includes fraud protection, travel and emergency services, auto rental, collision waiver, and roadside assistance.
- Other Benefits
Best Buy Visa Card offers cardholders access to special sales, free shipping, and free set-up with the Geek Squad.
- No Foreign Transaction Fee
Best Buy Visa Card does not have a foreign transaction fee.
This is unusual for a non-travel rewards card. This is a great perk because you can earn Best Buy rewards on your travel spending.
- Earn More as an Elite Plus
Best Buy has a rewards program for customers but these rewards are not as good as the rewards through Best Buy Visa Card . Customers that are designated as Elite Plus receive better rewards.
If you are Elite Plus you can earn 6% in rewards with the Best Buy Visa Card . Customers will need to spend over $3,500 at a store or online to earn the 6% back.
Drawbacks
Here are the most important cons you should consider before apply to My Best Buy Visa card:
- Annual Fee
The annual fee is $0–$59, based on creditworthiness.
- No Sign-Up Bonus or 0% APR Introductory Rate
Best Buy Visa Card does not have a sign-up bonus or any introductory rate like many cards on the market.
- High APR
The APR for the Best Buy Visa Card is a 29.24% Variable variable rate for all who are approved which is very high for a card that requires borrowers with excellent credit histories. In case of a cash advance, the rate is 30.24%.
- Redemption Restrictions
Best Buy Visa Card rewards can only be redeemed or spent at Best Buy. They send you a voucher for $5 every time you hit 250 points. This is automatic and makes it difficult to build up rewards or use the rewards when you want.
- Confusing Application Process
When you apply for the Best Buy Visa Card , Best Buy also considers you for other cards they offer.
You could end up with the Best Buy Visa Card Platinum or the Best Buy Credit Preferred. These are different cards than what you applied for.
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How To Apply For Best Buy Credit Card?
- 1.
Visit the Barclaycard Ring Mastercard Credit Card homepage and click “Apply Now.”
- 2.
This takes you to the next page, where you should fill in your “Personal Information” such as your Names, date of birth, etc.
- 3.
Next is your contact and financial information, such as income and social security number.
- 4.
Lastly, ensure you read through the important disclosure page to know your eligibility, fees, costs, rates, etc.
- 5.
Then click on “Continue” to complete the process.
Is the Best Buy Card Right for You?
Best Buy Visa Card is best for consumers who are frequent customers at Best Buy or are planning to make large purchases at Best Buy. The Best Buy Visa Platinum card offers a variety of benefits for those who are loyal Best Buy shoppers.
Best Buy Visa Card offers rewards outside of Best Buy, but those rewards must be spent within Best Buy. The rewards offered outside of Best Buy can be recreated with other cards that are more competitive.
A potential consumer looking at making a large purchase for appliances or a new home theater system and who wants to pay that overtime may want to consider the Best Buy Visa Card . They can defer interest for a time and pay off the balance of that large purchase. Always be cautious on deferred-interest financing because if you do not pay off the balance, the balance will be charged to your credit card.
Compare The Alternatives
There are more online shopping credit cards worth mentioning as alternatives to the Best Buy card:
|
|
| |
|---|---|---|---|
Capital One® Walmart Rewards® Card | Amazon Prime Rewards Visa Signature Card | Chase Freedom Unlimited® card | |
Annual Fee | None
| $0 ($139 per year Amazon Prime Membership Fee required)
| $0
|
Rewards |
1-5%
5% cash back at Walmart.com (including pickup and delivery), 2% cash back in Walmart stores and gas stations, at restaurants and on travel plus 1% cash back everywhere else Mastercard is accepted
|
1-5%
5% at Amazon.com and Whole Foods Market, 2% cash back on restaurant, gas, and drugstores, 1% cash back on all other purchases
|
1.5% – 5%
5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases
|
Welcome bonus |
5%
5% cash back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval
|
$150
Up to $150 Amazon gift card upon approval
|
Up to $300
additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back
|
Foreign Transaction Fee | Unknown
| 0%
| 3%
|
Purchase APR | 17.99% – 28.99% (Variable)
| 18.49% to 26.49% Variable
| 19.49% – 28.24% variable
|
FAQ
Citi does not state what credit limit you can expect with this card, but there are reports of initial credit limits of $2,000 to $7,500 from previous and current customers. Your credit limit will be determined by a number of factors during the application process including your creditworthiness and income.
Since this is a Best Buy branded card, you’ll get the most rewards on your Best Buy purchases. So, think outside the box and explore all the store aisles and online categories.
Even if you’re a keen Best Buy fan, you may be unaware of the sheer volume of available products. You may find products that you typically buy from another retailer at Best Buy and you can earn more points.
Best Buy is a fairly large chain with a store network with almost 1,000 locations throughout the United States. There are also Best Buy stores and outlets around the country. While this is not as large a network as Walmart or Target, it is still fairly easy to find a store in most areas of the country.
Obviously, this is a Best Buy branded card, so it is a good idea for those who are particularly loyal to Best Buy. Since the card is also heavily weighted towards rewards for Best Buy purchases, you should consider it if you tend to spend a large amount in Best Buy each month or year.
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