The Best Buy Credit Card is a store card that earns rewards on purchases at Best Buy and other retailers

The Best Buy Credit Card, issued by Citi, comes in two versions: a standard Visa and a store card that works only at Best Buy. Both earn cash back on purchases, but the rewards rate, annual fee, and where you can use the card differ between them. The Visa version works anywhere Visa is accepted; the store card works at Best Buy, Best Buy Mobile, and Best Buy's website.

Neither version charges an annual fee. The main trade-off is between earning higher rewards at Best Buy (the store card) versus earning rewards everywhere you shop (the Visa). Your choice depends on how much you spend at Best Buy relative to other retailers.

Key Takeaways

  • The Best Buy store card earns higher cash back at Best Buy but only works there, while the Best Buy Visa earns lower rewards everywhere Visa is accepted.
  • Both cards have no annual fee, but the store card requires a Best Buy account and the Visa requires a standard credit process.
  • Rewards are posted as Best Buy certificates (store card) or cash back (Visa), and both can be used when ready on your next purchase.
  • The store card offers special financing on large purchases, while the Visa does not include promotional rate periods.

Rewards rates and how they work on each version

The Best Buy store card earns 5% cash back on Best Buy purchases and 1% on purchases outside Best Buy. The Best Buy Visa earns 3% cash back on Best Buy purchases and 1% on all other purchases. On the store card, rewards are issued as Best Buy certificates that appear in your account within one to two business days. On the Visa, rewards post as cash back that you can use as a statement credit or transfer to a linked bank account.

The store card's higher rate at Best Buy (5% versus 3%) makes it the better choice if you spend $1,000 or more per year there. Below that threshold, the Visa's flexibility—usable anywhere—may matter more. Neither card has a rewards cap, so there is no limit to how much cash back you can earn in a year.

Interest rates and what happens if you carry a balance

Both cards carry a variable APR that changes with the prime rate. The exact rate you receive depends on your credit score and credit history; Best Buy does not publish a single APR. Typical ranges fall between 18% and 27%, though some cardholders with excellent credit may receive lower rates.

If you carry a balance month to month, interest accrues daily on the unpaid amount. The store card offers 0% APR financing on purchases of $399 or more for 12, 18, or 24 months depending on the purchase amount—this is a significant advantage if you plan to buy a laptop, TV, or other high-ticket item. The Visa does not include promotional financing periods. Both cards charge interest on cash advances at a higher rate than purchases, typically 2% to 3% higher.

How to open an account and what documents you need

To open either card, you start on Best Buy's website or in a store and complete a credit process. You will need your Social Security number, date of birth, current address, and income information. Best Buy runs a hard inquiry on your credit report, which temporarily lowers your credit score by a few points.

The store card requires a Best Buy account (free to create) before you explore. The Visa does not. Both decisions are made when ready or within a few minutes; if approved, you can use the card in-store when ready or wait for the physical card to arrive by mail, usually within 7 to 10 business days. If you are denied, you can reapply after 30 days, though your credit report will show multiple inquiries.

Fees, penalties, and what they cost

Neither the store card nor the Visa charges an annual fee. Late payments incur a fee of $25 to $35 depending on how late the payment is. If you miss a payment by 60 days or more, the card issuer reports it to the credit bureaus, which damages your credit score for seven years.

Foreign transactions are not charged a separate fee, but the card uses Visa's exchange rate, which includes a markup of roughly 1% to 3%. If you use the card abroad, expect to pay that markup on top of the purchase price. Cash advances cost 3% of the amount withdrawn, with a minimum fee of $5.

Comparing the store card to the Visa and to other options

The store card wins if you shop at Best Buy regularly and want the highest rewards rate there. The Visa wins if you want a card that works everywhere and do not want to manage multiple cards. A general cash back card like the Chase Freedom Unlimited (1.5% everywhere, no annual fee) earns less at Best Buy than either Best Buy card but more outside Best Buy than the store card, making it a middle ground if you split your spending.

If you plan to finance a large purchase, the store card's 0% promotional period is valuable—it can save you hundreds in interest. If you do not plan to carry a balance, the rewards rate matters more than the APR, and the choice comes down to where you spend most of your money. If you rarely shop at Best Buy, neither card makes sense; a general rewards card will serve you better.

How to use rewards and what limits explore

On the store card, rewards appear as Best Buy certificates in your account and can be used on your next purchase at Best Buy or on the website. They do not expire as long as your account is open and in good standing. On the Visa, cash back can be applied as a statement credit (reducing your balance) or transferred to a checking or savings account linked to your card.

Rewards cannot be transferred to another person or redeemed for cash at a store. If your account is closed or goes into default, unused rewards may be forfeited—check your cardholder agreement for the exact policy. Some promotional purchases (like gift cards) may not earn rewards; Best Buy's terms specify which categories are excluded.

Frequently Asked Questions

Can I use the Best Buy store card outside of Best Buy?

No, the store card works only at Best Buy, Best Buy Mobile, and Best Buy.com. If you need a card that works everywhere, you would need the Best Buy Visa instead. You can carry both cards if you want the higher rewards at Best Buy and a backup card for other purchases.

What credit score do I need to open one of these cards?

Best Buy does not publish a minimum credit score, but both cards typically go to people with fair credit or better (usually 650 or above). If your score is below 650, you may be denied. The only way to know is to explore; a denial does not prevent you from reapplying after 30 days.

Do these cards have a sign-up bonus?

Best Buy does not currently offer a sign-up bonus on either card. Rewards begin accruing on your first purchase. Check Best Buy's website before you explore, as promotional offers change periodically.

What happens to my rewards if I close the card?

On the store card, unused Best Buy certificates may be forfeited if the account is closed. On the Visa, any pending cash back should be claimed before closing. Contact Best Buy's customer service to confirm the policy on your specific account before you close it.

Can I transfer a balance from another credit card to the Best Buy card?

Neither card offers balance transfer options. You would need to pay off the other card separately. However, the store card's 0% promotional financing on new purchases can help you avoid interest on large purchases going forward.