Best Buy Credit Card Review (2018)

By: Ashley Dull • 4/20/2018

Opinions expressed here are ours alone, and are not provided, endorsed, or approved by any issuer. Site may be compensated through the issuer affiliate programs.

While Best Buy is a multinational electronics superstore today, once upon a time it was an audio specialty store with the lyrical name Sound of Music. After rebranding in 1983, Best Buy expanded its offerings to include the whole electronics shebang, selling just about everything that a modern technophile needs — from AirBooks to appliances — as well as providing the professional Geek Squad experts to set it all up.

The company has expanded its footprint significantly since it got its retail upgrade and new name, and today Best Buy operates over 1,000 locations worldwide. To help ensure electronics addicts really get the best buys in all 1,000+ locations (and online at, the company offers the My Best Buy credit card. Although only usable for Best Buy buys, this powerful piece of plastic can produce a slew of perks, including purchase rewards, exclusive financing options, and an easy way to pay online.

Best Buy Card Overall Rating: 3.5/5.0

Consumers who spend their evenings waiting in line for the newest devices are likely to love the rewards that come with their My Best Buy credit card, as they can earn 2.5X points per $1 spent on their My Best Buy card, both in-store and online. Since 250 points equal a $5 reward certificate, cardholders enjoy a 5% rewards rate on their Best Buy purchases.

As a My Best Buy member, cardholders will also get free shipping on purchases over $35 and access to a raiding party's worth of special sales and offers. Furthermore, big spenders can unlock bonus levels of benefits by reaching Elite status (spend $1,500 a year) or Elite Plus status (spend $3,500 a year). Hitting Elite Plus status is a surefire way to overclock your rewards, boosting earnings to 3X points per $1 — which equals a sweet 6% savings overall.

Best Buy Credit Card

  • APR: 26.24% as of Apr 2018
  • Annual Fee: $0
  • Rewards: Earn 5% rewards on Best Buy purchases

New cardholders will get 10% back in rewards on their first card purchase after approval. Additionally, while the My Best Buy credit card comes with the same unfortunate 25%-plus purchase APR that drags down many otherwise lovely store cards, this card does have a saving grace many of its competitors lack: a variety of 0% APR financing deals. With their My Best Buy card in hand, consumers can opt to take advantage of six- to 24-month financing deals that will make that new Bluetooth-enabled refrigerator or robotic vacuum cleaner an interest-free investment in the latest technology.

The exact financing terms, including the time you have to repay, will vary based on what you purchase and how much you spend, with cellphones and home theater equipment allowing the longest period of interest-free financing. It's important to pay your entire balance in the time allotted to avoid paying interest fees. If any portion of your purchase is not repaid before the financing terms expire, you'll be charged interest for your entire purchase (not just the part that remains when time runs out).

Approval Requirements & Application

You won't need to enter a cheat code or update your drivers to apply for the My Best Buy credit card; all you need is fair credit (or better) and to fill out the easy five-minute-long application. Drop into your local Best Buy location or pop online to get started.

Better Cards to Use at Best Buy

If your gaming rig needs a reboot or you want to remake your home theater, the My Best Buy credit card can be a great way to finance and save. The 10% rewards for your first purchase can reduce the damage to your budget from an app-controlled mopping machine or mega-pixel monolith, and the regular rewards rate is still impressive.

When the bulk of your buys aren't powered by processors, however, your Best Buy card can turn into a Mediocre Buy card, paling in comparison to the latest and greatest open-loop cards. These cards will allow you to make purchases — and earn rewards — nearly anywhere major credit cards are accepted, broadening your buying power and saving you more money in the long run.

Cash Back

The 5% rewards rate offered by the My Best Buy card is certainly nothing to shake a controller at, but since that rate only applies to Best Buy purchases, you may score more rewards with an all-around cash back credit card. With the right cash back card, you can enjoy 1% to 5% back on every purchase, everywhere your card is accepted, meaning you can save when you buy the movie and the popcorn.

0% APR

Although the My Best Buy card comes with access to some fine financing options, these deals have limited compatibility, good only on Best Buy purchases charged to your card. For a universal fit, try a top-rated credit card with an introductory 0% APR offer that will apply to new purchases of all kinds. With the right 0% APR card offer, you can not only finance a new fridge — you can stock it, too.

Travel Rewards

No matter how realistic they make virtual reality, real-life reality will always be more interactive — and have more pixels. Travel rewards credit cards provide the perfect way to stay up-to-date on the latest technological advances, while still earning rewards redeemable toward a trip to those exotic destinations you've only ever seen on television.

Anyone always hankering for the latest hardware or newest releases will likely get a lot of use out of a My Best Buy card. For anyone else, the card will be about as useful as an analog television antenna (Hint: If you don't get that reference, you probably fall into the latter group.). Look for a card that will be usable — and useful — in more locations, offering all-purpose rewards or financing rates that earn it a spot in your financial armory.

What Others Say About the Best Buy Credit Card

The digital jury has spoken, and they think the My Best Buy credit card is a great deal — if you shop enough to make it worthwhile. Plug into these reviews from around the world wide web for the full download on the My Best Buy credit card.

A review from says:

I've had this card for 4 years now. The terms have pretty much stayed the same, however the issuing bank has changed 3 times since I've had the card, which is kind of annoying. I really like the fact that based on how much you spend you can get deferred interest for 3, 6, or even 12 months. What I don't like is the reward system. 1 point per dollar. You have to spend 250 dollars before you even get a redeemable reward. And once you do, it's only $5. I just don't feel like that's a ton of incentive to even use it, especially if you're not going to use the card frequently. Another downfall is the interest rate. The interest rate on my best buy card is 25%. That's just outrageous. So I don't think this card is ideal for anyone planning to carry over a balance. Overall it's an OK card, but I really only recommend it if you shop with Best Buy very frequently. —

A review from says:

I have had this card for about 3 years now and it is one of my favorites. They always have awesome finance offers and incentives. My last purchase was a MacBook with 24 months no interest... Can't beat that! I have asked for a CLI increase once and they were very generous in bumping me up from $2,000 to $5,000. The only thing I suggest is that if you contact customer care you will get a lot faster answer/response if you send e-mail communication instead of calling. A lot quicker answers/resolution. —

A review from says:

Because you may have a better chance qualifying for a Best Buy card, it’s best for those with bad to fair credit score ratings. However, if you’re simply looking for the best program for purchasing at Best Buy, there are a number of other credit cards that award as much or more. As a bonus, they don't limit your options on spending or redeeming. However, if you frequently shop at Best Buy stores or can take advantage of the special financing and sign-up offer, the Best Buy Credit Card benefits may be suitable. Just make sure that you're making the payments every month. You will also get the most out of these cards if you qualify for Elite or Elite Plus status in the My Best Buy® Rewards program. —


Is the Best Buy Card Right for You?

Between the purchase rewards and exclusive financing deals, the My Best Buy credit card can be a great fit for any electronics enthusiast or digital devotee — or anyone else who can differentiate the latest smartphone model from the rest. If your refrigerator doesn't need an internet connection, however, you may not appreciate the full benefits of the My Best Buy credit card. Instead, you'll likely make a better connection with a general rewards card that's more compatible with your existing programming.

Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

About the Author

Ashley Dull

Ashley is the Finance Vertical Manager at Digital Brands, Inc., where she oversees content published on and Ashley works closely with experts and industry leaders in every sector of finance to develop authoritative guides, news, and advice articles with regards to audience interest. Connect with Ashley on Twitter and LinkedIn.