Is there an annual fee for Best Buy Credit Card?

The top Best Buy® Credit Card benefits include 10% back in rewards (5 points per $1 spent) on your first day of purchases made within the first 14 days, 2.5 points / $1 spent on qualifying Best Buy purchases, $0 annual fee, 0% foreign transaction fee, and the option to choose deferred interest on purchases.… read full answer

The financing side of things is hit or miss, but all the other perks simply help you save. Plus, you only need fair credit or better to get the Best Buy® Store Card, but its use will be restricted to Best Buy. The Best Buy® Credit Card requires good credit or better, but it also packs additional benefits. If you don't get approved for the Best Buy® Credit Card, the Best Buy® Gold Visa Credit Card packs the same benefits and accepts fair credit, but will charge you a $59 annual fee.

Here are the top Best Buy® Credit Card benefits:

• 10% back in rewards (5 points per $1 spent) on your first day of purchases made within the first 14 days when choosing standard credit.
• 2.5 points per $1 spent on Best Buy purchases, 1.5 points per $1 spent at gas stations, 1 point per $1 spent at restaurants, bars and grocery stores, 0.5 points per $1 spent on all other purchases. Each point is worth 2% back in rewards. You get a $5 reward certificate for every 250 points.
• Choose between standard credit (for 2.5 points / $1 spent at Best Buy) and flexible financing options (0% to 12.99% for 12 to 48 months).
• My Best Buy Elite Plus members get a 0.5-point bonus added to the 2.5 points / $1 spent at Best Buywith standard credit.
• Shop anywhere Visa is accepted.

For the Best Buy® Store Card, you get:

• 10% back in rewards (5 points per $1 spent) on your first day of purchases made within the first 14 days when choosing standard credit.
• Choose between standard credit (2.5 points / $1 spent at Best Buy) or flexible financing options (0% to 12.99% for 12 to 48 months). Get a $5 reward certificate for every 250 points.
• My Best Buy Elite Plus members get an extra 0.5-point bonus added to the 2.5 points / $1 spent at Best Buy.
• Enjoy exclusive discounts and events and free shipping on purchases $35 and up.

The promotional financing offers for the Best Buy® Credit Card can be an attractive benefit, but they're also somewhat dangerous. Some items are eligible for deferred interest, which means you pay no interest for a certain period of time. But if you don't pay your full balance by the end of that period, a high interest rate will go back and apply to your original purchase amount. So, the savings you thought you were getting could turn into some nasty extra charges if you're not careful.

If you're after financing, it's better to go with a card that gives you true 0% interest. If you have a balance at the end of the 0% period, you'll only pay interest on the amount that remains, rather than what you originally spent. Check out our editors' picks for the best 0% intro APR credit cards.

The Best Buy credit card credit score requirement is fair credit for the store card and good credit for the Visa. That means a 640+ credit score probably gets you a Best Buy credit card, but you’ll likely need a 700+ score to be awarded the version that lets you earn Best Buy rewards everywhere you shop. You don’t get to pick, though. There’s only one application, and Citibank (the issuer) decides which you get based on your credit score and a few other factors.… read full answer

The Best Buy credit card credit score & other requirements include:

• Credit score: 640+ (700+ for the Visa).
• Credit history: If it’s on your credit report, it’s a factor.
• Ability to pay: Income, assets and debt are key.
• Legal requirements: You must be at least 18 years old with a U.S. mailing address and Social Security number.

Store credit cards are among the easiest credit cards to get. And you can get a good sense of whether you’ll satisfy the Best Buy credit card credit score requirement by seeing which credit cards will pre-approve you. There’s no Best Buy credit card pre-approval check, but plenty of major credit card companies offer the service. They include Capital One, which has cards for people of all credit levels, and Citi – the Best Buy cards’ issuer. If you get pre-approved for a card that requires good credit or better, you’ll have a good shot at the Best Buy Visa. If it’s a fair-credit card, the Best Buy Store Card is more likely. And if it’s a secured card, you may want to improve your credit a bit before applying for a Best Buy card.