Credit Cards » Credit Card Reviews » Best Buy Credit Card Review 2024 – Is It Worth it?
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Best Buy Credit Card Review 2024 – Is It Worth it?

Best buy card offers very high cash back for loyal best buy customers, as well as gas cashback and other everyday spending benefits.
Author: Lorraine Smithills
Lorraine Smithills

Writer, Contributor

Experience

Lorraine is a freelance finance writer with years of experience in the banking sector and after a successful career in one of the largest retail and commercial financial services providers. She has a passion for helping people with less financial confidence to get control of their money through budgeting, saving, and responsible credit practices.
Interest Rates Last Update: April 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Lorraine Smithills
Lorraine Smithills

Writer, Contributor

Experience

Lorraine is a freelance finance writer with years of experience in the banking sector and after a successful career in one of the largest retail and commercial financial services providers. She has a passion for helping people with less financial confidence to get control of their money through budgeting, saving, and responsible credit practices.
Interest Rates Last Update: April 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

My Best Buy Visa® Card
best buy credit card

Rewards Plan

1-5% 5% back in rewards on shopping at BestBuy, 3% back in rewards on gas purchases, 2% back in rewards on dining, takeout and grocery purchases, 1% back in rewards on everyday purchases

Sign up Bonus

None 10% back in rewards on your first day of purchase

Our Rating

4.1
4.1/5

0% Intro

N/A

Annual Fee

$0

APR

15.99% – 31.49% variable
My Best Buy Visa® Card
best buy credit card

Rewards Plan

1-5% 5% back in rewards on shopping at BestBuy, 3% back in rewards on gas purchases, 2% back in rewards on dining, takeout and grocery purchases, 1% back in rewards on everyday purchases

Sign up Bonus

None


10% back in rewards on your first day of purchase

Our Rating

4.1
4.1/5

PROS

CONS

APR

15.99% - 31.49% variable

Annual Fee

$0

0% Intro

N/A

Credit Requirements

Good - Excellent Credit

The Best Buy Visa Card, issued by Citibank, is a store rewards card that greatly benefits big Best Buy spenders. 

Cardholders receive 5% back in rewards on shopping at BestBuy, 3% back in rewards on gas purchases, 2% back in rewards on dining, takeout and grocery purchases, 1% back in rewards on everyday purchases. Additionally, there is 10% back in rewards on your first day of purchase.

The rewards structure is intricate, with points valued at $0.02 each. The redemption process involves earning 250 points for a $5 reward certificate, redeemable for Best Buy purchases. Rewards can expire, and there are exclusions and limitations on redemption.

However, the application process is complex, considering you for up to four different cards. The rewards rates may be misleading, as the advertised percentages include points from the free My Best Buy rewards program.

In the right setting and for big spenders at Best Buy, this card is great, while potential applicants should carefully consider fees, rewards structure, and limitations before choosing this card over other options. If that does not describe you, you may want to look for other reward cards that offer more significant benefits.  

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

Pros & Cons

Let’s take a look at the pros and cons of the My Best Buy Visa card and see if it’s the right one for your wallet or not.

Pros
Cons
Signup Bonus
Annual Fee
Generous Rewards for Travel and Dining
0% Intro Only on Balance Transfers
No Foreign Transaction Fee
Rewards Are Not Transferable
0% Intro APR on Balance Transfers
Minimum Redemption Requirement
Rental Car Coverage
Restricted Availability

Best Buy Visa Card cardholders receive 5% back in rewards on shopping at BestBuy, 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.  

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.

A noteworthy perk is the 10% back on the first day of Best Buy purchases within 14 days of opening the account, providing an attractive incentive for new cardholders.

Cardholders have the option to choose standard financing on Best Buy purchases, allowing for flexibility in payment terms, especially for significant purchases.

Best Buy Visa Card rewards can only be redeemed or spent at Best Buy. 

Also, there are various exclusions on purchases eligible for rewards, and reward certificates cannot be used for certain products and services, limiting redemption options.

The application process is confusing, considering applicants for up to four different cards, potentially leading to uncertainty for those applying.

Reward certificates earned through the points system expire 60 days after issuance, imposing a time constraint on redeeming earned rewards.

The APR for the Best Buy Visa Card is a 15.99% – 31.49% variable variable rate for all who are approved which is high for a card that requires borrowers with excellent credit histories.

Top Offers

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus:
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus:
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

How To Apply For Best Buy Credit Card?

Visit the Barclaycard Ring Mastercard Credit Card homepage and click “Apply Now.”

Best Buy Credit Card_Create an account

This takes you to the next page, where you should fill in your “Personal Information” such as your Names, date of birth, etc.

 

Best Buy Credit Card_Create an account

Next is your contact and financial information, such as income and social security number.

 

Best Buy Credit Card_Create an account

Lastly, ensure you read through the important disclosure page to know your eligibility, fees, costs, rates, etc.

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 visa

chase freedom unlimited card

Capital One® Walmart Rewards® Card
Amazon Prime Visa Card
Chase Freedom Unlimited® card
Annual Fee
$0
$0 ($139 Amazon Prime subscription 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, Amazon Fresh , Whole Foods Market and on Chase Travel purchases, 2% cash back on gas stations, restaurants and on local transit and commuting, 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
$100 $100 Amazon gift card upon approval
$200 Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
Foreign Transaction Fee
Unknown
$0
3%
Purchase APR
17.99% – 28.99% (Variable)
19.49% – 27.49% Variable
20.24%–28.99% 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.

Compare My Best Buy Visa Card

The Apple Card offers high cashback on Apple products, while the Best Buy card wins when it comes to gas and BestBuy purchases. Let's compare.

My Best Buy Visa Card vs Apple Card: How They Compare?

My Best Buy Visa Card is cheaper than the Amazon card, which requires a membership. But, it doesn't mean Amazon wins – here's why.

My Best Buy Visa Card vs Amazon Prime Visa Card: Comparison

Costco is a clear winner when it comes to rewards for everyday spending, but the Best Buy Card wins for gadget lovers. Here's our comparison.

My Best Buy Visa vs Costco Anywhere Visa Card: How They Compare?

Review Store Credit Cards

Picture of Lorraine Smithills

Lorraine Smithills

Lorraine is a freelance finance writer with years of experience in the banking sector and after a successful career in one of the largest retail and commercial financial services providers. She has a passion for helping people with less financial confidence to get control of their money through budgeting, saving, and responsible credit practices.
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Milestone® Mastercard®

Annual Fee:
$175 the first year; $49 thereafter
APR:
35.90%

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

Milestone® Mastercard®

Annual Fee:
$175 the first year; $49 thereafter
APR:
35.90%
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

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Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.