Why Having a Best Buy Credit Card is the Right Decision

Anyone can easily walk into a Best Buy store and find something to buy. Since it opened in 1966, the superstore has been one go-to place for anything electronics related—computers, cell phones, appliances, video games, and so much more. It’s a good thing they accept all sorts of credit card types: Visa, MasterCard, Discover, and American Express. But the greatest part is they also offer an in-store credit card that will get you some decent rewards as long as you happen to be an avid electronics shopper. But we believe that even when you’re not, you can still take advantage of some benefits.

Card types

There are two different types of Best Buy store cards.The My Best Buy Credit Card is the first type. The store might issue a card called My Best Buy Credit Card Preferred, but these two are essentially the same cards. The card can be used at a physical store or online. With no annual fees, this is an attractive choice to many credit card users.

The second type is The My Best Buy Visa. This can be used at any establishment anywhere that accepts a Visa. There are two different versions of this card. One has an annual fee while the other one does not. The Gold charges a fee of $59 dollars annually, while the Platinum can be had without any fees whatsoever.

When applying for a credit card, Best Buy automatically considers you for the My Best Buy Visa Platinum first. If you happen to not qualify for this, the store will consider you for the rest of the cards in a particular order. Approval for any of these cards is largely dependent on a few factors including your credit score, history, and other factors that determine your worthiness.

Rewards

Any of these credit cards will automatically sign you up for the store’s rewards program. As you shop at Best Buy, you earn and accumulate points that you can redeem through at Best Buy only. There are three different levels in the program: Basic, Elite, and Elite Plus. Anyone can join through the free Basic level, while Elite levels can be reached after spending $1,500 at Best Buy within one calendar year. Lastly, the Elite Plus, can be reached after spending $3,500 at Best Buy within a single calendar year as well. Everyone starts off at with Basic level benefits and can work up as desired.

All members get two options as far as standard rewards are concerned. Basic and Elite members will get 5% back on all store purchases, while Elite Plus members will get 6%. Another option is the deferring of interest for large purchases. The option will change depending on the current season.

If you do choose the deferred interest option , make sure you know what it ultimately means. Deferred interest does not mean that you won’t have to pay for it. After the period is finished, you’ll have to pay all the interest if you still have a remaining balance on your credit card. Even if that remaining balance is small, you’ll still be paying the APR on the entire purchase. That’s won’t be a small amount, so you have to be prepared to pay.

There are other additional benefits associated with the My Best Buy Visa card for transactions made outside Best Buy. You can get up to 2% back at restaurants, grocery, and retail stores. Otherwise, you will get 1% back on any other buys you make anywhere else.

Why should you get a Best Buy card?

Obviously, it makes sense to get a Best Buy card if you shop there or online frequently. Electronics enthusiasts will benefit from these tremendously, especially since all rewards can only be redeemed through Best Buy. However, even though you don’t consider yourself an avid electronics shopper, you can still benefit from rewards. Your greatest bet is to qualify for the My Best Buy Visa Platinum as it has no fees. You can also use this card outside of the store and still accumulate points. As we mentioned first and foremost, anyone who walks into Best Buy can find something useful there. We guarantee that you’ll find something you can redeem your points on.


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