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My Best Buy Visa Card review: Earn rewards at Best Buy and on everyday purchases

Lee Huffman
6 min read

Best Buy is a retail and online store specializing in electronics for the home and business. The retailer operates a loyalty program called My Best Buy that rewards customers based on how much they spend. Another option for earning rewards is the My Best Buy? Visa? Card. With this card, not only do you earn rewards at Best Buy, but you can also earn rewards on everyday purchases of gas, groceries, dining and more. Plus, you can take advantage of special financing offers to spread your payments over time. Learn more about the Best Buy credit card to decide if it is worth it.

  • Annual fee
    $0
  • Welcome offer
    10% back on your first day of purchases at Best Buy (within 14 days of account opening) or choose flexible financing when approved for the card
  • Card type(s)
    Retail, Rewards
  • Purchase APR
    31.49% variable
  • Rewards rate
    • 5% back on Best Buy purchases
    • 3% back on gas purchases
    • 2% back on grocery, dining, and takeout purchases
    • 1% on all other purchases
  • Benefits
    • No foreign transaction fees
    • Throughout the year, Best Buy may announce exclusive offers for Best Buy cardholders and may include bonus rewards, special financing, or other promotions
    • When making purchases at Best Buy, you can choose to earn 5% in rewards or take advantage of special financing offers

Additional benefits

The My Best Buy Visa Card offers more benefits beyond rewards for customers when shopping at Best Buy and making purchases anywhere in the world. Here are a few of the benefits you should know about.

Rewards vs. special financing

When making purchases at Best Buy, you can choose to earn 5% in rewards or take advantage of special financing offers. The 5% in rewards earns points that can be redeemed toward future purchases. While the special financing offers spread the cost of your purchases over many months to make them more affordable.

Special financing offers vary and you may have the option to choose between different plans when you make an eligible purchase. Just watch out for special financing with deferred interest. If you’re unable to pay the balance in full by the time your plan ends, you’ll risk taking on interest at the regular rate going back to your purchase date.

Learn more: The best 0% APR credit cards

Cardmember offers

Throughout the year, Best Buy may announce exclusive offers for Best Buy cardholders. These offers provide additional value for cardholders and may include bonus rewards, special financing, or other promotions.

No foreign transaction fees

Bring your Best Buy Visa with you while traveling because it does not charge foreign transaction fees. Some cards charge fees of up to 3% that inflate the total cost of your purchases outside the U.S.

How to redeem rewards

As a Best Buy cardholder, you'll automatically receive a $5 reward certificate for every 250 My Best Buy points you earn. Alternatively, you can choose to bank points and receive your reward certificate when you reach a different amount ($10, $20, $50, etc.). These reward certificates are coupons toward future Best Buy purchases in-store or online. They can be redeemed for a discount on purchases that are equal to or exceed the value of the certificates.

Once a My Best Buy certificate has been issued, it must be used before the expiration date.

Though you will need to use your reward certificates before they expire, reward points do not expire as long as your My Best Buy Visa Card remains open. If you close your account, you must have account activity once every 24 months to prevent your points from expiring.

Who is the My Best Buy Visa Card best for?

The My Best Buy Visa Card is best for frequent Best Buy shoppers. The card earns 5% rewards on Best Buy purchases and up to 3% on purchases outside the store. Cardholders may also be able to take advantage of special financing offers to spread their payments out over time.

This store card may also be worthwhile for occasional Best Buy shoppers who are making a large purchase. When you open the card, you can choose between earning 10% in rewards on a single day or a special financing offer. Since the card doesn't charge an annual fee, these benefits can be worth it even if you don't make regular purchases at Best Buy.

My Best Buy Visa Card pros

  • Unlimited 5% rewards on Best Buy purchases

  • Earn up to 3% rewards on eligible purchases

  • No annual fee or foreign transaction fees

My Best Buy Visa Card cons

  • Rewards must be redeemed at Best Buy

  • Does not offer a traditional welcome bonus

  • Must choose between rewards and special financing offers on Best Buy purchases

  • Special financing may have potentially costly deferred interest plans

Where can you use My Best Buy Visa Card?

Many retail credit cards can only be used at participating locations. The My Best Buy Visa Card is a Visa credit card, so it can be used anywhere Visa is accepted. Visa is one of the most widely accepted credit cards, so you can use it within the U.S. and when traveling internationally.

The card does not charge foreign transaction fees, so you won't be hit with fees of up to 3% when making purchases outside the U.S.

How to make a My Best Buy Visa Card payment

  • Pay your bill online

  • Payments by texting PAY to 81964

  • Make payments in-store

  • Pay by phone by calling (888) 574-1301

  • Mail payments (with your account number included) to the address on your credit card statement

My Best Buy Visa Card customer service info

Alternative cards to consider

The My Best Buy Visa Card is an excellent choice for people who shop at Best Buy frequently. However, if you want to earn rewards with more flexible redemption options, it may be better to choose another card. Before applying for a Best Buy credit card, consider these alternatives.

  • Annual fee
    $0
  • Welcome offer
    Earn a $200 statement credit after spending $2,000 within the first 6 months
  • Card type(s)
    Cash-back
  • Introductory Purchases APR
    0% on purchases for 15 months
  • Ongoing Purchases APR
    18.74%-29.74% Variable
  • Introductory Balance Transfer APR
    0% on balance transfers for 15 months
  • Ongoing Balance Transfer APR
    18.74%-29.74% Variable
  • Recommended credit score
    Excellent, Good
  • Rewards rate
    • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%)
    • 3% cash back on U.S. online retail purchases (on up to $6,000 per year in purchases, then 1%)
    • 3% cash back at U.S. gas stations (on up to $6,000 per year in purchases, then 1%)
    • 1% cash back on all other purchases
    • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout
  • Benefits
    • 0% intro APR on purchases and balance transfers for the first 15 months
    • Get a $7 monthly statement credit after spending $9.99 or more on a streaming subscription to the Disney Bundle, plus earn up to $15 in monthly statement credits after purchasing a Home Chef subscription

Why we like it: The Blue Cash Everyday? Card from Amex (see rates & fees) rewards customers with cash back and annual credits on everyday purchases. You'll earn 3% cash back on the first $6,000 you spend annually in each of three categories (then 1%) – U.S. supermarkets, U.S. online retail purchases, and U.S. gas stations — and 1% cash back on everything else. The card also includes a 0% intro APR offer on purchases and balance transfers, up to $84 in annual statement credits ($7 per month; with enrollment) for eligible auto-renewing Disney Bundle subscriptions, and up to $180 in annual statement credits ($15 per month; with enrollment) for eligible auto-renewing Home Chef subscriptions.

Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.

Read our full review of the Blue Cash Everyday Card from Amex

  • Annual fee
    $0
  • Welcome offer
    Earn a $200 cash bonus after spending $500 within the first 3 months
  • Card type(s)
    Cash-back
  • Introductory APR
    0% intro APR on purchases and balance transfers for 15 months, then variable 19.99% - 29.99% APR
  • Purchase APR
    19.99% - 29.99% variable
  • Recommended credit score
    Good, Excellent
  • Rewards rate
    • 5% cash back on hotels and rental cars booked through Capital One Travel
    • 1.5% cash back on all other purchases
  • Benefits
    • 0% intro APR on purchases and balance transfers for the first 15 months
    • No foreign transaction fees

Why we like it: While the Best Buy credit card earns up to 5% rewards, they can only be redeemed at Best Buy. The Capital One Quicksilver Cash Rewards Credit Card earns an unlimited 1.5% cash back on every purchase plus 5% cash back on hotels and rental cars booked through Capital One Travel. Rewards can be redeemed for statement credits, cash back, gift cards and more. Plus, rewards never expire, so you aren't rushed to make a purchase before you're ready. As a new customer, you can earn a $200 one-time cash bonus when you spend $500 within the first three months. This card also includes a 0% intro APR offer for new purchases and balance transfers, which can be useful for making a large purchase or for any existing debt.

Read our full review of the Capital One Quicksilver Cash Rewards Credit Card

  • Annual fee
    $35
  • Cash Advance Fee
    $6 or 5% of the amount of each Cash Advance; whichever is greater.
  • Foreign Transaction Fees
    3% of each Transaction in U.S. dollars
  • Late Payment Fee
    Up to $40
  • Card type(s)
    Secured, Credit-builder
  • Ongoing Purchases APR
    25.64% (variable)
  • Ongoing Cash Advance APR
    25.64% (variable)
  • Recommended credit score
    No credit check
  • Rewards rate
    • No credit check to apply
    • No credit risk to apply
    • 88% average approval rate
    • $200 minimum security deposit
  • Benefits
    • Earn up to 10% cash back through the OpenSky Rewards program
    • Graduate to an OpenSky Unsecured Gold Card in as little as 6 months

Why we like it: Retail credit cards like the My Best Buy Visa Card are a good way for people who have a limited credit history to build credit. Another option is a secured credit card like the OpenSky? Secured Visa? Credit Card. This card helps people build credit and rewards good payment habits with a potential credit line increase after just six months. You'll start out with a minimum security deposit of $200 (which will act as your credit limit) and you’ll have to pay a $35 annual fee. While this card doesn’t have any ongoing rewards categories, your purchases can earn up to 10% in cash back rewards when you enroll in offers with select participating retailers.

Read our full review of the OpenSky Secured Visa Credit Card

This article was edited by Kendall Little

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