Are you a frequent shopper at Best Buy? If so, you may have considered getting a Best Buy Credit Card to enhance your shopping experience. In this article, we will explore the various pros and cons of owning a Best Buy Credit Card, as well as important information like how to make a payment, reach customer service, find your card number, and more. We will also delve into the requirements for approval, how to cancel your card if needed, and the additional features of the Best Buy Credit Cards and My Best Buy Program. Lastly, we will discuss the fees and drawbacks of these cards, and provide you with some alternative rewards credit cards that you may want to consider. Read on to learn all you need to know about the Best Buy Credit Card.
Advantages and Disadvantages of the Best Buy® Credit Card
Receive a 10% initial rewards bonus
No introductory APR for balance transfers
Requires good/excellent credit
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How to Make a Payment on Your Best Buy Credit Card
Sebi Mitchell, Credit Cards Moderator
The most convenient methods to pay your Best Buy® Credit Card are either online or by phone, by calling 1-888-574-1301. You also have the option to make a payment via text, mail, or at a branch. With Citibank, cardholders can even set up automatic payments.
Options for Making a Best Buy® Credit Card Payment
- Online: Log in to your online account and click on “Make a Payment.” From there, specify the amount, timing, and funding source for the payment.
- Phone: Dial 1-888-574-1301 and provide your card details when prompted.
- Text: Send a text with the message PAY to 81964 using your mobile device connected to your My Best Buy Credit Card account. You will then receive a text prompting you to indicate the payment amount and the preferred payment account.
- Mail: Mail a check or money order (do not send cash) to: My Best Buy Credit Card Payments, P.O. Box 9001007, Louisville, KY 40290-1007. Remember to include your credit card number on the check.
- In store: Visit any Best Buy store during regular business hours to make a payment.
If you choose to mail your payment, make sure to send it at least 5-7 days before the due date.
How to Contact Best Buy Credit Card Customer Service
Maria Adams, Credit Cards Moderator
The simplest methods to reach the Best Buy® Credit Card customer service are either online or by phone at (888) 574-1301. Alternatively, you can contact customer service through mail. The same methods apply to the Best Buy® Store Card customer care.
How to Reach Best Buy® Credit Card Customer Service
Locating Your Best Buy Credit Card Number
Sydney Garth, Credit Cards Moderator
The number for your Best Buy® Credit Card can only be found on the front of your physical card. It is the 16-digit number situated between the chip and the cardholder's name. This is also where you can find the number for the Best Buy® Store Card. To access your account, you will need this number, as well as the expiration date and...
Where to Complete Your Best Buy Credit Card Application
Evelyn Boros, Credit Cards Moderator
You can submit your application for the Best Buy® Credit Card either online or in store. The same options are available for the Best Buy® Store Card. Regardless of the method you choose, the application process remains identical, and both routes offer the potential for instant approval. It is important to note that some cases may take up to 14 business days for a decision to be made.
Requirements for Approval of the Best Buy Credit Card
Chip Lupo, Credit Card Writer
The primary conditions for approval of the Best Buy® Credit Card state that applicants must be at least 18 years old, possess a valid Social Security Number or Individual Taxpayer Identification Number, have a physical address in the U.S., and demonstrate sufficient income to meet monthly minimum payment requirements. Additionally, applicants must have at least good credit to qualify.
The same requirements...
How to Cancel Your Best Buy Credit Card
Maria Adams, Credit Cards Moderator
Application Process for a Best Buy Visa Card
Shoppers have the option to apply for a Best Buy credit card either in store or online. If you choose the online route, you will need to create a BestBuy.com account before proceeding.
When applying for the Best Buy credit card, you only need to complete a single application. Citibank will then evaluate all your criteria and issue an appropriate card based on your creditworthiness.
According to the fine print, your eligibility for these cards is determined in the following order:
- My Best Buy® Visa® Platinum
- My Best Buy card
- My Best Buy® Visa® Gold
So, what credit score is required for a Best Buy credit card? In general, a good credit score (typically 700-749) is necessary to be approved for the top Visa card. Otherwise, a fair credit score (usually 660-699) is likely required for the standard Best Buy version.
Although some applicants may receive instant approval upon review, others may need additional evaluation, resulting in a waiting period of up to 7-10 days.
It's worth mentioning that all applicants must be at least 18 years old.
Image Credit: Best Buy
Occasionally, Best Buy may provide specific sign-up incentives. For instance, at the time of writing this, Best Buy was offering 10% back in rewards (or flexible financing) on the first day of purchases after approval.
Additional Features of the Best Buy Credit Cards and My Best Buy Program
When you become a member of the My Best Buy program, you gain access to a few extra perks, along with potential benefits from holding the Visa cards.
By enrolling in the My Best Buy Program, you enjoy:
- Early access to sales and special offers
- Free shipping on purchases of $35 and more, with no minimum purchase requirement for Elite and Elite Plus members
- Exclusive member-only deals
- Free in-home consultation
- A special birthday gift during your birth month
Members can qualify for My Best Buy Elite by spending $1,500 or more per calendar year, or for My Best Buy Elite Plus by spending $3,500 or more per calendar year.
Your My Best Buy Visa card may also include other benefits offered by Visa (refer to your cardmember benefits explanation):
- Fraud prevention
- Emergency card replacement
- Cardholder inquiry service
- Extended warranty manager service
- Travel and emergency assistance services
- Auto rental collision damage waiver
- Roadside dispatch
Fees and Disadvantages of the Best Buy Credit Cards
When it comes to credit card evaluations, one of the most critical sections pertains to fees and disadvantages. Often, credit card companies and retail stores heavily advertise the advantages, leaving you wondering, "What are they not telling me?" So, let's discuss the fees first.
My Best Buy Visa cardMy Best Buy cardAnnual Fee$0 (My Best Buy Platinum card) $59 (My Best Buy Gold card)$0Standard APR25.24% (variable) or lower if choosing special financingBalance Transfer APR25.24% (variable)N/ABalance Transfer Fee$15 or 5% of the transfer amount (whichever is greater)N/ACash Advance APR27.99% (variable)N/ACash Advance Fee$10 or 5% of the advance amount (whichever is greater)N/ALate FeeUp to $40Up to $40Returned Payment FeeUp to $40Up to $40Foreign Transaction Fee NoneN/AWe have already discussed the high standard APR. These figures increase even further if you consider a cash advance or balance transfer. When you factor in the associated fees, the overall costs are incredibly steep.
Moreover, if you are unable to make timely payments or your check bounces, you will have to pay substantial fees.
What About the Other Disadvantages? The fact that Best Buy credit cards are not genuine cash-back cards is a SIGNIFICANT disadvantage. Since you only earn your percentage back in the form of Best Buy Rewards Certificates, you can only use them at Best Buy stores or BestBuy.com. Considering that you can use your Visa anywhere, it is puzzling why you cannot spend your rewards anywhere.
Additionally, if you can only qualify for the My Best Buy Visa Gold, you will be charged a $59 annual fee. To recoup the cost of your annual fee, you would have to spend $1,200 at Best Buy, or even more on gas, dining, groceries, and everyday expenses.
What if you decide that the card's fees and disadvantages are not worth it, but you still want to earn rewards for your everyday spending? This is where alternative rewards or cash-back credit cards come into play.
Other Options for Credit Cards with Different Rewards (Our Suggestions)
If you desire actual cash-back as rewards instead of limited spending options only available at Best Buy, there are several other lucrative cards that you may want to take into consideration.
On the other hand, if you have a penchant for traveling, then the Chase Sapphire Preferred® Card could be a top contender, being possibly the finest travel rewards card available in the market.
By using this card, you will earn 1 point for every $1 you spend at Best Buy stores and 2 points for each $1 spent on dining and travel expenses. It's important to remember that these points hold exceptional value if used correctly!
In conclusion, the Best Buy Credit Card offers a range of benefits, such as exclusive financing options and rewards through the My Best Buy program. However, it's important to consider the pros and cons before applying, and to meet the necessary requirements for approval. If you have any questions or need assistance, the Best Buy Credit Card customer service team is readily available to help. And if the Best Buy Credit Card isn't the right fit for you, there are alternative rewards credit cards that may better suit your needs. So, whether you're looking to make a purchase or manage your account, the Best Buy Credit Card provides convenient solutions for your shopping needs.