If you're not sure how the two cards differ, the Best Buy® Store Card can only be used at Best Buy, whereas the Best Buy® Credit Card can be used almost anywhere. That’s part of the reason why the Best Buy® Credit Card requires good credit, while you only need fair credit for the store card.
Best Buy points are worth 2 cents each, on average. For example, 10,000 Best Buy points have a dollar value of roughly $200. As a result, Best Buy points are worth about the same amount as the average retail rewards points, which are valued at 2 cents each.
The easiest way to calculate the value of a retailer's rewards points for any redemption method is to determine the dollar value of what you're redeeming for, minus any taxes and fees that you'll still have to pay, and then divide that amount by the number of points you're required to redeem. For your convenience, here's the formula for Best Buy points:… read full answer
Dollar Value of Redemption Item / Number of Best Buy Points Needed = Best Buy Point Value
How to Earn More Best Buy Points
It's important to remember that while you can't change the redemption values of Best Buy points, you can increase the rate at which you earn them. One of the best ways to increase the number of Best Buy points that you earn is to apply for either the Best Buy Visa or the Best Buy Store Credit Card. That can also help you reach a higher status tier in the My Best Buy program, further boosting your earning potential.
Your Best Buy® Credit Card approval odds are pretty good as long as your credit score is at least fair. There are actually two Best Buy credit cards, the Best Buy® Credit Card and the Best Buy® Store Card that you can only use at Best Buy. Your odds of Best Buy® Credit Card approval will only be good if your credit score is at least good. But if you don’t get that version, you’ll be automatically considered for the Best Buy® Store Card, which requires fair credit. But there’s more to Best Buy® Credit Card approval than just your credit score.… read full answer
Here are the Best Buy credit card approval requirements:
Credit score: fair for the store card, good for the Visa.
Age: 18+ years old (21 in Puerto Rico).
Mailing address. Must be located in the U.S.
Social Security Number. You need an SSN to apply and can’t substitute an ITIN.
Income. The amount of money you make factors heavily into approval.
Be sure to check your credit score before applying. If it’s below 640, take time to improve your score first. Even a month can make a big difference. But if it’s more than a minor fix, you might want to put a deposit on a secured credit card and use that for credit rebuilding purposes until you get into the fair credit range.
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