Best Buy Credit Card Review 2019: Is It Right for You? – If you like to shop at Best Buy, you may consider having Best Buy credit card. By using this credit card, you will get rewards that can be used to reduce the price of stuff you purchase at Best Buy. But the real question is: is it worth it to create one? In this article, we will elaborate Best Buy credit card review 2019, particularly its pros and cons so you can decide whether having this credit card worth all the money.
Best Buy Credit Card Review 2019
Best Buy Types of Credit Cards
Best Buy offers two types of credit cards. The first one is My Best Buy Visa, which consists of Platinum and Gold versions. The second one is My Best Buy Credit Card, which consists of Preferred and Basic versions. My Best Buy Credit Card is categorized as a store card, it means you can use it only at Best Buy, while My Best Buy Visa is similar to a conventional credit card. This type of credit card can be considered as Bestbuy online payment credit card. Despite offering two types of cards, you cannot choose which types you will apply. Instead, Citibank, the bank that issues the card, will consider it for you. You just need to submit the general application and Citibank will give you the card that they deem suitable for your condition.
Best Buy Credit Card Rewards
After you get approved for Best Buy card, you are allowed to choose among two programs of rewards. The first program is accrue points, which are able to be redeemed for reward certificate of Best Buy. Generally, every dollar spent will get 2.5 points or 3 points if you are a member of Elite Plus. The second program is no interest for purchases with the price at least 399 dollars or more if it is full-paid within twelve months. To be a member of Elite Plus, you have to spend at least 3,500 dollars at BestBuy, both in-store and online store, within a calendar year. You may get additional rewards for purchases outside Best Buy Credit Card Review, such as grocery stores, restaurants, and home improvement stores, if you use My Best Buy Visa.
Before choosing which rewards you prefer, you have to understand what kind of needs you will purchase at Best Buy. For those who are planning to do some big purchases, which you are unable to pay right away, then it is better to choose the no interest programs instead of the points program. However, if you tend to purchase less than 399 dollars, then choosing the points rewards is the best for you. So, make sure to plan well about the amount of money you want to spend on Best Buy before choosing the Best Buy reward program.
Best Buy Credit Card Annual Fee
The best buy credit card annual fee is only applied on My Best Buy Visa Gold version, with 59 dollars annual fee. My Best Buy Visa Platinum version and My Best Buy credit card does no comes with any annual fee. This fee may be pretty high for a store credit card, which can be an additional consideration before choosing to create one. The APR or annual percentage rate of these cards are also considerably high compared to other store cars available, with 26.24 percent, regardless of how bad or good your credit status is. There is also another fee you may need to consider, which is known as late payment fees. The cost of this fee is 27 dollars for the first late within 6 months period. For the next late payments within 6 months window, you will be charged 38 dollars.
The benefits of Best Buy Credit Card
This part will be the main part of this Best Buy credit card review 2018. The benefits of Best Buy credit card will be described on the list below:
- Special financing: with this credit card, you will get access to promotions for deferred-interest. Best Buy often send their customers some offers in deferred-interest. You are able to use the card and accumulate no interest on the purchases if you make a full payment within certain period of time.
- Rewards: you can get points for every qualifying purchase. On every dollar you spend at Best Buy, you will get 2.5 points or 3 points if you are a member of My Best Buy Elite Plus.
- Additional rewards: you can get 1.5 points on every dollar you spend on pet care, home improvement, and furniture purchases. For every dollar spent at grocery stores, restaurants, and bars, you will earn 1 point. For other items, you can earn 1 point every two dollars purchase.
- Special APR: you can get some reduced interest for eligible purchases. Several items offer only 11.90 percent APR for 48 months credit plain in Best Buy.
Approval Requirements & Application
The drawbacks of best buy credit card is its high APR and additional fees for returned and late payments, which can be quite burdening if you cannot make sure to pay your credit on time. You may consider other cards if you want cash back as Best Buy only offers rewards that can be used only at Best Buy Credit Card Review. You may also reconsider your decision in creating this card if you only make purchases on Best Buy occasionally.
Those are some brief Best Buy credit card review 2019 for anyone who is interested in making one. So, what should we do if we want to create a best buy credit card? First, make sure to have a good understanding on your financial conditions and options before you decide to apply.
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You can go for Best Buy credit card annual app or simply go to their official website and click on Apply Now. You can use your existing My Best Buy account or create a new one. Fill the form as complete as possible, especially the financial information. It takes around 14 days for approval. After you get the card, you can start to make payments on the products you wish to purchase on Best Buy. For further information Best Buy Credit Card Review, you can contact them on Best Buy credit card customer service phone number: 1-888-574-1301.