You can pay your credit card bill by cash or check in any Best Buy store. You also can pay online, by phone, or by mail.

For the uninitiated, the Best Buy credit card has some attractive features for consumers who regularly make purchases in the stores or online.

Types of Cards and Rewards

Best Buy has two types of credit cards, the My Best Buy credit card and the My Best Buy Visa card. Both cards offer a cash-back reward of 5% for purchases at the store. 

Key Takeaways

  • My Best Buy cardholders earn 5% cash-back rewards on all purchases.
  • Cardholders who qualify for Elite Plus get an extra 1% off.
  • Watch for Flexible Financing deals for zero-interest-charges purchases.

Both also have limited-time rewards offers. At the end of June 2020, the retailer was offering 2% cash-back rewards on grocery and dining purchases, and 3% on gasoline purchases, among others.

The standard My Best Buy card can be used only at Best Buy stores or Best Buy affiliates. Its affiliates are websites or apps that link customers to Best Buy offers.

The Best Buy Visa, which can be used anywhere the Visa card is accepted, offers cardholders 2% cash-back on groceries and at restaurants and 1% on everything else. It has its own limited-time offers as well.

Which credit card you receive is determined only when you apply.

Best Buy has additional rewards for its Elite Plus customers. Cardholders can qualify to be Elite Plus members after spending $3,500 at Best Buy or an affiliate in one calendar year. After earning Elite Plus status, cardholders earn 6% cashback on Best Buy purchases.

Credit Card Rates

As of June 2020, My Best Buy cards carried annual percentage rate interest charges with variable rates between 23.24% and 20.24% and fixed rates from 9.00% to 26.24%. My Best Buy Visa cards were issued with variable rates of 10.74% to 27.99% and non-variable rates from 9.99% to 20.24%.

The Visa card is issued in several versions including Platinum, Gold, and Preferred, with the Gold version carrying a $59 annual fee.

Which card you get is determined only when you apply for a card.

Flexible Financing

One attractive offering at Best Buy is the Flexible Financing feature for big-ticket items, which allows purchases to be paid over time at zero interest. At this writing, purchases of $199 and above could be paid off over six months for zero interest, and purchases over $499 could be paid off over 18 months at no interest. This particular offer dies the day after Christmas 2020, but with any luck, new offers will follow.

This is an unusually good deal if you're certain you can pay off the entire balance within the allotted time frame. Otherwise, it's going on that balance at a high interest rate.

Special financing offers do not earn cash-back rewards.

Other Features

Both cards allow customers to create and manage their accounts online. By using the online feature, cardholders can update their personal information, view transaction activity, and check their card balance.

Visa offers consumers zero fraud liability in the event of a lost or stolen card. Any lost or stolen cards should be reported to the company as soon as possible.