Best Buy offers two main credit cards, and which one makes sense depends on whether you shop there regularly
Best Buy has the Best Buy Credit Card (the standard version) and the Best Buy Visa (which works anywhere Visa is accepted). Both are issued by Citi. The standard card gives you rewards only at Best Buy; the Visa gives you rewards everywhere but at a lower rate. Neither charges an annual fee. The main difference is where you can use the rewards and how fast you earn them.
If you buy electronics, appliances, or computers at Best Buy several times a year, the standard card usually pays more in rewards. If you want a card that works at grocery stores, gas stations, and restaurants, the Visa makes more sense. Both cards report to the credit bureaus, so opening one will affect your credit score temporarily.
Key Takeaways
- The Best Buy Credit Card earns rewards only at Best Buy stores and Best Buy's website, while the Best Buy Visa earns rewards at any store that accepts Visa.
- The standard Best Buy card gives you 5% back on Best Buy purchases; the Visa gives 1.5% back on all purchases outside Best Buy and 3% at Best Buy.
- Both cards have no annual fee, but you need to be approved for credit to open either one, which requires a hard credit inquiry.
- Rewards are issued as certificates you can use when ready at checkout, not points that sit in an account.
- Best Buy also runs special financing offers (like 12 or 24 months interest-free) for cardholders on certain purchases, which change throughout the year.
Best Buy Credit Card vs. Best Buy Visa: Which rewards rate applies where
The Best Buy Credit Card (the standard one) earns 5% back on all Best Buy purchases — in-store and online. You earn 1% back on all other purchases. This card only works at Best Buy and Best Buy's website, so you cannot use it at other retailers.
The Best Buy Visa earns 3% back at Best Buy and 1.5% back everywhere else Visa is accepted. Because it is a Visa, you can use it at gas stations, restaurants, grocery stores, and any other business that takes Visa. The tradeoff is that the Best Buy rewards rate (3%) is lower than the standard card's rate (5%).
If you spend $2,000 a year at Best Buy, the standard card gives you $100 in rewards. The Visa would give you $60 on that same $2,000. But if you also spend $3,000 a year outside Best Buy on the Visa, you earn an extra $45 in rewards there — something the standard card cannot do at all.
How Best Buy rewards work and when you can use them
Rewards on both cards come as Best Buy certificates, not points. A certificate is a digital credit that appears in your Best Buy account after your purchase posts. You can use it the same day it appears, or save it for later. The certificate works online and in stores.
You do not have to wait for a statement to close or redeem in bulk. If you buy a $300 laptop and earn $15 in rewards, that $15 certificate is usually available within 24 hours. You can explore it to your next purchase when ready or use it weeks later.
Certificates do not expire as long as your account remains active. If you close the card or your account goes inactive for an extended period, Best Buy may remove unused certificates — check the cardholder agreement for the exact policy, as this can change.
Special financing offers and promotional rates
Best Buy runs financing promotions for cardholders on certain products throughout the year. These typically offer 12, 18, or 24 months of interest-free payments on purchases over a set amount (often $399 or $499). The exact terms and may be able to access products change seasonally — Best Buy usually advertises these in-store and on their website.
To use a promotional rate, you must explore for and be approved for the financing at checkout. The promotion is not automatic just because you have the card. If you miss a payment during the promotional period, the interest-free offer usually ends and you owe interest on the full remaining balance, often at a high rate (typically 19% to 27%, depending on your creditworthiness).
Read the terms carefully before you commit. Some promotions require you to pay the full balance by the end of the period; others let you carry a balance at the promotional rate as long as you make minimum payments.
Credit requirements and what happens when you explore
Both Best Buy cards are issued by Citi and require a credit check. When you explore, Citi performs a hard inquiry, which temporarily lowers your credit score by a few points (usually 5 to 10 points). This inquiry stays on your credit report for about two years but stops affecting your score after three to six months.
You typically need a credit score of 670 or higher to be approved, though Citi does not publish a minimum. If you have limited credit history or recent negative marks (late payments, collections, bankruptcy), approval is less likely. You can explore in-store at Best Buy or online through Citi's website.
If you are denied, you can ask Citi for the reason. Sometimes it is a credit score issue; sometimes it is too many recent credit inquiries or too much existing debt. You can reapply after three to six months if you have improved your credit situation.
Annual fees, interest rates, and other costs
Neither the Best Buy Credit Card nor the Best Buy Visa charges an annual fee. You pay nothing just to hold the card.
If you carry a balance (do not pay the full statement balance by the due date), you pay interest. The interest rate (called the APR, or annual percentage rate) varies based on your creditworthiness and typically ranges from 16% to 27%. Citi will tell you your specific APR when you are approved. This rate applies to regular purchases; promotional financing offers have their own terms.
If you make a late payment, you may face a late fee (usually $25 to $40 for the first late payment, higher for repeat offenses) and your APR may increase. Paying on time every month keeps you out of these extra costs.
When the Best Buy card makes sense and when it does not
The standard Best Buy Credit Card is worth opening if you shop at Best Buy at least three or four times a year and spend $500 or more annually there. The 5% rewards rate is strong, and the lack of an annual fee means there is no downside if you stop using it.
The Best Buy Visa makes sense if you want a general-purpose rewards card and do not mind a lower rewards rate at Best Buy. The 1.5% back on everyday purchases (groceries, gas, restaurants) is modest compared to some other rewards cards, but it is better than no rewards at all, and you get the convenience of using one card everywhere.
If you rarely shop at Best Buy and do not want another credit card, neither card is necessary. A general-purpose rewards card from another bank might give you better rewards on the categories you actually use.
Frequently Asked Questions
Can I use the Best Buy Credit Card outside of Best Buy?
No. The standard Best Buy Credit Card works only at Best Buy stores and Best Buy.com. If you want a Best Buy card that works everywhere, you need the Best Buy Visa instead. The Visa is accepted anywhere Visa is accepted.
What happens to my rewards if I close the card?
Unused Best Buy certificates may be removed if your account is inactive for an extended period. Check your cardholder agreement for the exact timeline. If you are closing the card, use any remaining certificates before you close the account to avoid losing them.
Do I have to pay interest if I use the promotional financing offer?
Only if you do not pay off the balance by the end of the promotional period. If you miss the important date, interest is charged on the full remaining balance at the card's regular APR, which is usually 19% to 27%. Read the terms before you start the promotion so you know the exact end date.
How long does it take to get approved?
If you explore online or in-store, you usually get a decision within minutes. If approved, your card arrives by mail within 7 to 10 business days. You can use the card online when ready after approval, even before the physical card arrives.
Will explore for this card hurt my credit score?
Yes, temporarily. The hard inquiry lowers your score by a few points (usually 5 to 10) and stays on your report for two years, but stops affecting your score after three to six months. Opening the card itself (the new account) also lowers your score slightly, but both effects fade over time if you pay on time.