Best Buy Card

The My Best Buy and My Best Buy Visa cards, issued by Citi, are designed for consumers who frequently shop at Best Buy and want to maximize rewards on their purchases. With no annual fee, competitive reward rates, and access to special financing offers, these cards provide a combination of immediate and long-term value. However, their benefits are strongly tied to Best Buy spending, and the deferred interest feature requires careful attention to avoid unexpected charges.

At a glance

• Issuer: Citi (My Best Buy Visa for qualified applicants)
• Two versions: My Best Buy (for credit scores below 700) and My Best Buy Visa (for 700+ credit)
• Annual fee: $0
• Sign-up bonus: 10% back on the first Best Buy purchase made within 14 days (via virtual card)
• Reward rates: 5% back at Best Buy, 3% on gas, 2% on dining & groceries (1¢ per point redemption)
• Special feature: promotional 0% APR financing options (deferred interest)
• Typical APR after promo: high (~30%)

Approval requirements & annual fee

There are two card tiers now (previously there were three). The division is straightforward: applicants with credit scores below 700 are issued the My Best Buy card, while those with scores of 700 or higher qualify for the My Best Buy Visa. Both cards have no annual fee.

This category receives a full 5/5 rating because even applicants without top-tier credit can still access a product that offers meaningful Best Buy-focused rewards and flexibility through the Visa version.

Sign-up bonus: instant use and 10% back

This card does something a little different from bank bonuses. After approval you can get an instant virtual card number and use it right away. The sign-up incentive is aggressive: 10% back (instead of the usual 5%) on your first Best Buy purchase made within 14 days of opening the account.

This structure rewards users who already plan a large Best Buy purchase—open the card, use the virtual number, and capture a hefty immediate return. The catch is timing: that first purchase must be within 14 days or you lose the elevated return. Daniel scores this a 3/5: useful if you time it, but conditional.

Financing & statement credits — the 0% APR caveat

One of the main reasons many people get the Best Buy card is for promotional financing. Best Buy offers special 0% APR financing terms depending on the purchase amount. If the full balance is paid by the end of the promotional term, no interest is charged.

Example: buy a $1,000 MacBook on a 12-month promo. If the remaining balance is even $1 short, approximately $300 in retroactive interest may be charged, as the rate applies to the full purchase amount from the original transaction date. To prevent interest charges, it is advisable to follow the suggested payment indicated on the monthly statement, which shows the amount needed each month to fully pay the balance by the end of the promotional period.

Because of the deferred interest risk, this section receives a 2.5/5 rating.

Rewards structure

• 5% back at Best Buy (primary reason to get this card)
• 3% back on gas stations
• 2% back on dining and groceries
• Standard redemption rate: 1¢ per point

These rates make the card useful primarily for people who spend heavily at Best Buy. The gas and dining/grocery categories are modest and easily outshone by other cards that offer stronger multipliers or rotating bonus categories. Daniel rates rewards 3.5/5: it does its job for Best Buy spenders but is mediocre for day-to-day spending compared to broader cash-back cards.

Point redemption: restrictions matter

The biggest weakness for many shoppers is redemption flexibility. Points redeem at a standard 1 cent per point, but historically those redemptions were limited to Best Buy certificates (gift cards). After the video was recorded, gift card redemption options were added, which is an improvement, but the card still offers no unrestricted cash-back option that can be spent anywhere.

This limitation reduces the card’s appeal for users seeking broader or more flexible redemption possibilities.

Card design and issuer

The card is a basic plastic design. The Visa version carries the Citi branding. It’s simple and unobtrusive—functional but uninspired. Design score: 2/5.

Pros & cons

Pros

• No annual fee.
• High bonus on first Best Buy purchase (10%) if used within 14 days.
• 5% back at Best Buy on ongoing purchases.
• Special financing options (0% APR promos) useful when used correctly.
• Available to those with sub-700 credit (My Best Buy card).

Cons

• Redemption options are limited—mostly Best Buy certificates/gift cards (no true universal cash back).
• Deferred interest promotions are risky; failing to pay in full results in retroactive interest (APR ~30%).
• Everyday rewards (3% gas, 2% dining/groceries) are mediocre compared to alternatives.
• Card design and overall flexibility lag behind broader cash-back cards.

Conclusion

Overall, the My Best Buy and My Best Buy Visa cards offer solid value for dedicated Best Buy customers, particularly through the 5% back on store purchases and the 10% sign-up bonus on the first transaction. Despite these advantages, the high standard APR and limited redemption flexibility reduce their appeal for those seeking broader cash-back options. When managed properly within the promotional financing terms, these cards can be a useful tool for technology and electronics purchases, but their benefits remain highly store-centric.