My Best Buy® Visa® Card Review: Is It Worth It?

Best Buy Credit Card
The My Best Buy Visa Card is a serious way to earn reward points at Best Buy. However, the rewards program is often-times confusing to understand, and points can only be used at Best Buy.
  • Annual Fee:
    Up to $59
  • Regular APR:
    25.24% variable
  • Recommended Credit Score:
    670 - 850

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Best buy was founded in 1966 and is now a multinational consumer electronics retailer. If you are into any electronics at all, chances are you have been to one of their 1,200+ stores.

What you may not have known is Best Buy has a credit card. In fact, they actually have three different cards, which can get a little confusing.

Although we will discuss the three different cards, this article will focus on the Best Buy® Visa® Card, specifically the pros and cons, benefits, and alternatives.

My Best Buy® Visa® Card Pros & Cons


  • Best Buy offers an introductory Bonus of 10% back in rewards on your first purchase as long as it is within 14 days of opening your account.
  • No matter which card you receive, you can earn 5% back in rewards with Best Buy purchases. The Visa card also has a 3% back on gas purchases, 2% on dining and groceries, and 1% on everything else.
  • If you rather opt for the special financing on purchases, over $199, rather than the 5% reward, you can do so.
  • Your membership upgrades to Elite Plus status after spending $3,500 or more in a year. Elite Plus status allows you to earn rewards faster, such as 6% cashback rather than 5%.
  • The Best Buy® Visa® Card is a chip card for added security.
  • Best Buy offers limited-time bonus categories that change, which allow for an increase in rewards with those purchases.


  • Rewards can only be used at Best Buy for additional products.
  • Best Buy has three different credit cards, but the one you get will depend on your credit score and what is on it. Although you fill out the same application for all three, and Best Buy states they first consider you for the Best Buy Visa Platinum, which has no annual fee, you do not have any say on which card you receive. Ending up with the Best Buy Gold Visa has an annual fee of $59 where the other two cards do not. You can avoid this fee by canceling your card within the first 30 days if you do not want to keep it or pay the $59.
  • Opting for long-term finance makes you decide between that or the 5% reward.
  • Best Buy offers a variable APR at 25.24%, which is on the high end of APRs for credit cards.
  • Best Buy® Visa® Card has a $40 late fee.

How Does the My Best Buy® Visa® Card Work?

When you apply for a Best Buy credit card, your FICO score will determine which one of the three cards Best Buy offers you will get.

Best Buy states they first examine you for the Visa Platinum card (what this article is about), which does not have an annual fee.

If they determine that your credit score does not support this card, you will either qualify for the Visa Gold, which has a $59 annual fee, or their Best Buy “open-loop” card, which is essentially a store card with no annual fee nor usable outside of Best Buy.

Both the Platinum and Gold cards are issued by Citi bank and are Visa-branded, which means you can use them anywhere Visa is accepted.

My Best Buy® Visa® Card Features and Benefits

Using your Best Buy® Visa® Card allows you to earn rewards on all your purchases. Best Buy offers you a welcome bonus, flexible financing, and security with their chip card. You can easily make payments online as well as check your balance and rewards.

My Best Buy® Visa® Card Rewards

Earning Rewards

When you use your Best Buy® Visa® Card in Best Buy, you will earn 5% back in rewards. Purchases outside of Best Buy also qualify for rewards and allow you to earn 3% on fuel, 2% on dining and groceries, and finally 1% on everything else.

Once you spend $3,500 in a year, you qualify for Elite Plus, which increases your rewards.

Redeeming Rewards

Redeeming your rewards is not as easy as with other cards. Best Buy states you earn a $25 reward certificate for every 1,250 points, which equates to spending $500.

Your reward certificates are emailed to you and can only be used in Best Buy. Once you reach Elite Plus status, you earn an additional 0.5 points on purchases.

How Does the My Best Buy® Visa® Card Compare?

Below are some alternatives and comparisons to the Best Buy® Visa® Card.

#1. Citi® Double Cash Card – 18 months BT offer vs My Best Buy® Visa® Card

The Citi® Double Cash Card is a Mastercard that offers a 0% transfer APR for 18 months. You also earn an unlimited 2% on every purchase that is calculated by earning 1% at the time of purchase and 1% once you pay for the purchase.

Unlike Best Buy, you have numerous ways to redeem your rewards, such as cashback, statement credits, or converting your points to Citi ThankYou points which have additional perks.

#2. Chase Sapphire Preferred® vs My Best Buy® Visa® Card

Chase Sapphire Preferred® is a visa card that has great rewards for dining and travel. They also have rotating rewards such as rewards on Peloton, where you can earn 5x the points.

Right now, you can earn 80,000 bonus points plus $50 grocery store credit when you spend $4,000 in the first 90 days. That 80,000 bonus points is equivalent to $1,000 toward travel.

#3. Chase Freedom Flex℠ vs My Best Buy® Visa® Card

Chase Freedom Flex℠ is also a Mastercard with many perks that incorporates both a chip and touchless technology to their card.

Chase Freedom Flex℠ offers a 0% intro APR for 15 months and offers a $200 bonus when you spend $500 or more within the first 90 days.

The categories that you earn when purchasing rotate each month but what is standard is their partnership with DashPass that offers you a 3-month subscription to DoorDash and Caviar.

Chase Freedom Flex℠ has also partnered with Lyft, which allows you to earn 5% on all Lyft rides.

#4. My Best Buy® Visa® Card vs Amazon Prime Rewards Signature Visa

Like everything else, Amazon is in the credit card space as well, although you are only eligible for the Amazon Prime Rewards Signature Visa card if you are a Prime member.

The Amazon Prime Rewards Signature Visa card earns 2% back on restaurants, gas stations, and drugstore purchases and then 1% on everything else.

If you use the Amazon Prime Reward Signature Visa Card on Amazon or Whole Foods, you will earn 5% back, or you can opt to receive 0% APR on larger purchases.

Best Buy Credit Card FAQs

Here are some frequently asked questions about the Best Buy® Visa® Card.

Is the My Best Buy® Visa® Card Worth It?

If you are a frequent shopper at Best Buy, then the Best Buy® Visa® Card will be worth it since the only way to redeem rewards is at Best Buy.

The Elite Premium status is a nice perk, but you have to spend $3,500 at Best Buy to qualify. With electronics, such as TVs, have decreased by as much as 66% the past decade, that $3,500 yearly fee is hard to reach for most.

What Credit Score Is Needed for the My Best Buy® Visa® Card?

To get a Best Buy® Visa® Card, you will most likely need to have a credit score of 660 or higher, although a credit score is not the only determining factor when providing credit.

If you do not qualify for the Visa card, Best Buy will let you know and then offer you one of their two other cards mentioned above.

Is It Hard to Get a Best Buy Credit Card?

Best Buy offers three credit cards. The odds are you will qualify for one of them. You will want to read the terms as they vary from card to card once you are approved.

Bottom Line: My Best Buy® Visa® Card Review

Unless you are a frequent Best Buy shopper, it is hard to recommend the Best Buy® Visa® Card as you can only redeem rewards in Best Buy.

Furthermore, with their complicated three credit card offer, you won’t know what card you qualify for until you submit an application, and you may end up with a card that has an annual fee.

Other Store Cards:


Brian Latchford
Brian Latchford

Brian is a serial entrepreneur that loves financial technology and personal finance. From working with start-ups to creating his own recruiting company, Brian knows first hand what it takes to manage money. Throughout his career, Brian has become a respected writer covering topics in personal finance, business, and financial technology.