Credit Cards Credit Card Reviews

My Best Buy Visa Card Review

overall rating
3.3

We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from advertisers. Learn more about our review process and read our advertiser disclosure for how we make money.

The My Best Buy Visa card offers 5% back in rewards on Best Buy purchases (6% for Elite Plus members), limited-time bonus rewards categories, 2% back on dining and grocery purchases, and 1% back on everyday purchases. Unfortunately, the card's application process and rewards programs can be confusing.

My Best Buy Visa® Card

overall rating
3.3
My Best Buy Visa® Card
On Citi's Secured Site.

Current Offer:

Earn 10% back in rewards on your first day of purchases, or choose flexible financing. For a limited time, earn 3% back in rewards on gas purchases.

Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 25.24% variable
Annual Fee Up to $59
Rewards Earning Rate Earn 5% back in rewards at Best Buy; 6% back in rewards for Elite Plus members, 2% back in rewards on dining purchases, and 1% back in rewards on other everyday purchases.
Balance Transfer Fee Either $15 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee (%) 0%
how this card stacks up
When compared among all rewards cards in our database:
Rewards
Benefits
Low Fees
Security/Customer Experience
Low Interest
worst best

Full Review of My Best Buy Visa Card

Pros
  • At least 5% back in rewards on Best Buy purchases, or flexible financing

  • 10% back on your first day of Best Buy purchases

  • Other bonus categories sometimes available

Cons
  • Confusing application process considers you for several cards

  • Potentially misleading rewards rates

  • Many limited-time offers add unpredictability

Pros Explained

  • At Least 5% Back in Rewards on Best Buy Purchases, or Flexible Financing: When you shop at Best Buy and use your card's standard financing option, you'll earn 5% back in rewards (or 6% back if you're an Elite Plus member). You can become an Elite Plus member by spending $3,500 or more on the My Best Buy Visa card. You can also forgo your rewards and instead take advantage of flexible financing options on purchases of $199 and up at Best Buy. 
  • 10% Back on Your First Day of Best Buy Purchases: You can earn 10% back in rewards on your first day of Best Buy purchases made within 14 days of opening your account if you select the standard credit option, as opposed to flexible financing. Some products do not qualify for My Best Buy Rewards, though.
  • Other Bonus Categories Sometimes Available: Currently, you can earn 3% back in rewards on gas purchases. You can also earn 2% back on dining, grocery and bar purchases and 1% back on all other purchases. However, Best Buy includes the caveat on their 3% bonus category that the offer can be changed or withdrawn at any time. Other cards with real or implied limited-time offers for bonus rewards normally offer higher earning rates, such as 5% back.

Cons Explained

  • Confusing Application Process Considers You for Several Cards: When you apply for a My Best Buy Visa card, you're actually applying for up to four different types of credit cards. This is not prominently displayed but buried in the terms and conditions of the offer. First, you're considered for the My Best Buy Visa Platinum card, which doesn't come with an annual fee. If you don't qualify for that card, you may be considered for a My Best Buy Visa Gold card that can be used anywhere Visa cards are accepted but has a $59 annual fee. Finally, you may be considered for two closed-loop Best Buy credit cards that can only be used at Best Buy. 
  • Potentially Misleading Rewards Rates: While 5% back in rewards seems like a decent earning rate, the card itself doesn’t provide all of that. In reality, there is a free My Best Buy rewards program that offers points on purchases without the use of any particular credit card. The advertised rewards rates show you the total rewards you’d earn from both the free rewards program and the credit card combined.
  • Many Limited-Time Offers add Unpredictability: While limited-time bonus rewards categories are nice, there isn’t any predictability to what you could earn in the future. The limited-time 3% gas purchases category can be changed or withdrawn without notice, for instance.

This Card is Best For

  • Avatar for Rewards Strategist Persona
    Seeks to maximize points or miles earnings across spending categories
    Rewards Strategist
  • Avatar for Frequent Diner Persona
    Dines out regularly while traveling or in home city
    Frequent Diner
  • Avatar for Head of Household Persona
    Primarily responsible for household grocery and other major purchases
    Head of Household
  • Avatar for Driver/Commuter Persona
    Incurs gasoline or other commuting expenses each month
    Driver/Commuter

The My Best Buy Visa card is for frequent Best Buy shoppers, with good to excellent credit, who would like to earn rewards toward more Best Buy merchandise. The 5% back in rewards for shopping at Best Buy (6% for Elite Plus members) is a decent earning rate if you frequently spend significant amounts of money there. These rewards are not likely worth the expense if you only qualify for the Best Buy Visa Gold card, though, as it comes with a $59 annual fee. In this case, you’d have to spend at least $1,200 on qualifying Best Buy purchases to earn $60 in reward certificates to justify the annual fee.

The other rewards categories, including limited-time non-Best Buy categories, can typically be beaten by other rewards credit cards without an annual fee. If you want to earn rewards you can use at places other than Best Buy, consider a general cash-back credit card instead.

My Best Buy Visa Card Bonus

The My Best Buy Visa card bonus is disappointing but better than nothing. You can earn an additional 5% back in rewards above the standard 5% earning rates (for a total of 10%) on your first day of Best Buy purchases as long as it falls within 14 days of account opening and you opt for standard, rather than flexible, credit.

Not all products qualify to earn My Best Buy Rewards. Some purchases at Pacific Sales Kitchen & Home Stores, a Best Buy subsidiary, are excluded. If you apply for the credit card in a store, online purchases may be ineligible for this offer even if made on the first day. 

Rewards Earning Details

Earning rewards with the Best Buy Visa card is a bit confusing for several reasons. First, the marketing for the card talks about rewards in terms of percent back. However, you actually earn rewards as points. Points are worth $0.02 each, so earning 5% back means you really receive 2.5 points per dollar spent.

Currently, you can earn 2.5 points per dollar spent at Best Buy or 3 points per dollar if you’re an Elite Plus member. You must choose standard financing to earn points at Best Buy. You’ll also earn 1.5 points per dollar on gas purchases unless the offer is withdrawn at some point in the future. The card offers 1 point per dollar on dining, groceries and bar purchases and half a point per dollar on all other purchases.

If the points methodology wasn't confusing enough, the way that the rewards are calculated may make you think you're getting more value from the card than you actually are. As mentioned above, Best Buy combines the points you earn from its free My Best Buy rewards program with the points you earn by using your credit card. If you sign up for the My Best Buy rewards program without the credit card, you’ll still earn the following points per dollar spent, based on your membership status:

  • Core members – 0.5 points per dollar on qualifying purchases
  • Elite members – 1 point per dollar on qualifying purchases
  • Elite Plus members – 1.25 points per dollar on qualifying purchases

Depending on your My Best Buy rewards program status, that means the actual rewards rate you earn by using your credit card is as follows:

  • Core members – 1 point per dollar on qualifying purchases
  • Elite members – 1.5 points per dollar on qualifying purchases
  • Elite Plus members – 1.75 points per dollar on qualifying purchases

Some products purchased at stand-alone Pacific Sales Kitchen and Bath Centers or Pacific Sales locations within Best Buy Stores aren't eligible for points. You can't use reward certificates on these purchases, either. There is a long list of other exclusions that don't earn points, including Student Deals, leased products, instant rebates, purchases made for resale, purchases paid with a reward certificate, purchases using any type of promotional financing, sales tax, service charges, and more. 

You may automatically be issued rewards certificates in 250 point increments and your remaining points may be forfeited if your account remains inactive for 12 consecutive months. Your My Best Buy account may be terminated if it is inactive for 24 months.

Rewards Redemption Details

While earning rewards can be complicated, redeeming them is fairly straightforward. For every 250 My Best Buy points you accumulate, you can get a $5 reward certificate that can be redeemed for a discount on a purchase of equal or greater value, excluding sales tax. You can set your certificate preferences to have certificates issued automatically at as low as 250 points for a $5 certificate or as high as 1,000 points for a $20 certificate. You can also request that certificates be issued manually if you have enough points. Reward certificates are emailed to you and expire 60 days after they are issued, so you must use them fairly quickly. Elite or Elite Plus members can bank their points until they’re ready to use them.

You cannot redeem reward certificates for prior purchases, leased products, some purchases at Pacific Sales Kitchen and Bath stores or Pacific Sales locations within Best Buy, Best Buy or Magnolia gift cards, point of sale activation cards, purchases made for resale, and more.

How to Maximize Your Rewards

With this program, the ability to maximize your rewards is fairly limited. The best way to earn rewards is to put all of your Best Buy purchases on the card and choose standard financing. The bonus categories on the card can change, so make sure you compare them with any other cards you have to see which card offers the highest rewards value for a particular category. As a general rule, if you have a 1.5% cash-back credit card, any purchases with lower reward rates than 1.5% should go on that card rather than this one.

As far as redeeming rewards goes, make sure to set up your rewards auto-redemption preferences to the limit you prefer or choose to bank your rewards if you’re an Elite or Elite Plus member. Once a reward certificate is automatically issued by email, it expires in just 60 days. Setting a higher limit still allows you to redeem points for small rewards certificates manually whenever you have a use for one.

Cardholder Experience

The My Best Buy Visa card is issued by Citi, which scored 799 out of 1,000 points in J.D. Power's 2019 U.S. Credit Card Satisfaction Study. The average score among national issuers was 806. You can reach customer service for this credit card at 888-574-1301.

Security Features

This card's security features are standard for the industry.

Fees to Watch Out For

While the Platinum version of the My Best Buy Visa card doesn’t have any annual fee, the Gold version comes with a $59 one. Many of the other fees and rates this card charges, including balance transfer fees, cash advance fees, cash advance APRs, purchase APRs, and balance transfer APRs are fairly high. For instance, both versions of this card charge a balance transfer fee of $15 or 5% of the amount of each balance transfer, whichever is greater. You can find cards that offer introductory no-fee balance transfers within the first 60 days of opening the account.

Our Verdict

The Best Buy Visa card offers a strong rewards rate on Best Buy purchases. The other limited-time and bonus categories don't provide much value because they aren't predictable or can be beaten by other rewards cards. 

The rewards you earn can only be redeemed for Best Buy rewards certificates, which expire just 60 days after they're issued. If you’d rather take advantage of the special financing this card offers on Best Buy purchases, you can forgo the rewards points you’d normally earn. People who shop at Best Buy only occasionally might do better with a straight cash-back credit card that offers 1.5% or better cash back on all purchases.

Apply Now
For My Best Buy Visa® Card
on Citi's Secured Site.
Compare This Card
See how this card compares to similar cards
CURRENT CARD
My Best Buy Visa® Card
overall rating
3.3
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 25.24% variable
Annual Fee Up to $59
Rewards Earning Rate Earn 5% back in rewards at Best Buy; 6% back in rewards for Elite Plus members, 2% back in rewards on dining purchases, and 1% back in rewards on other everyday purchases.
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.