You can get a Best Buy Credit Card cash advance by requesting a PIN and going to an ATM to get your cash. You won’t be able to do a cash advance inside a Citibank branch with the Best Buy Credit Card, according to Citibank customer service, so you’ll need to find an ATM that accepts Visa cards. Note that you can’t do a cash advance at all with the Best Buy Store Card – only the Visa version allows cash advances.
How to get a Best Buy Credit Card cash advance:
Request a PIN. Call customer service at 888-574-1301, enter your Best Buy Credit Card number, and request your PIN.
Bring your Best Buy Credit Card to an ATM. Citibank-branded ATMs are your best bet for a cash advance without an ATM fee.
Insert your Best Buy Credit Card into the ATM. Enter your PIN when prompted.
Select “Cash Advance” from the menu options. Follow the prompts on the screen.
Choose the amount of cash you want to take out. You may only be allowed to choose increments of $20, depending on the ATM.
Take your cash. Don’t forget to take your receipt.
Keep in mind that there is a limit on the amount you’re eligible to withdraw. Your Best Buy Credit Card cash advance limit is listed on your monthly statement. Cash advance limits are typically a fraction of your overall credit limit. Remember that the amount you withdraw as a cash advance will immediately begin accruing interest at a high rate. You will also be assessed a hefty cash advance fee.
First off, make sure you have a PIN. Once you have that and your card is activated, you can just go to an ATM that takes Visa. That's pretty much all ATM's, really. Keep in mind, the fees will definitely sting, and the interest will start piling on right away, so don't do it too often.
You can get cash back from a credit card by earning cash back rewards on purchases or taking out a cash advance. But most credit cards do not allow you to get cash back at the register when checking out at a store. That’s more of a debit card thing, though there are a few exceptions. For example, Discover cards have a feature that allows cash back at some store registers.… read full answer
Cash rewards credit cards give you a percentage of your purchases back as a statement credit, check or a deposit into your bank account. Cash advances, on the other hand, allow you to withdraw money from your credit line. Cash back rewards essentially have zero drawbacks, as long as they don’t lead you to overspend, but cash advances usually come with very high interest rates and fees.
For either option, it’s good to know what you’re getting into so you can maximize the pros and dodge the cons.
Here’s how to get cash back from a credit card:
Cash back rewards. Cash back is one of three major credit card rewards currencies, along with points and miles. And cash back is the simplest of the trio. You’ll generally earn at least 1% cash back on every purchase, or 1 cent for every $1 you spend. Some cards also offer higher rates in specific bonus spending categories.
Mobile payment app. Applications such as Venmo and Cash App allow you to add your credit card for funding, and both charge a 3% fee every time you send a payment with a credit card to a person you’re connected with on the app. So it’s possible to make a payment to a friend or family member in the app via your credit card and have the person give you that money in return, either as cash or as credit through the app. If you link your checking account to the app, you could then transfer the funds there and make an ATM withdrawal. This method could potentially allow you to get cash from your credit card without paying a cash advance fee or a cash advance APR. That said, the Venmo website suggests that your card issuer could see this as a cash advance, so it’s best to call your card issuer and find out before trying this.
Cash advance. A cash advance lets you use your credit card like it’s a debit card and take money out of an ATM. But there’s a huge catch. First, you’re going to have to pay a fee, often 3-5% of the amount you take out. And then on top of that, the credit card company immediately starts charging you interest on both the balance and the fee, at a rate usually above 20%. That interest compounds daily, too, meaning interest applies each day to your principal balance and any unpaid interest and fees from previous days. In other words, cash advances are expensive. To do a cash advance, you’ll either need to call the number on the back of your card to set up your PIN (which will make the card usable at an ATM), or go to a bank location associated with your credit card company and ask the teller in person, with your valid photo ID. You can also request credit access checks from your card issuer, which operate like normal checks except the funds come out of your credit line.
Cash advances in general are a pretty undesirable option, and you should only do one if you’re in an emergency and need cash right away.
On the other hand, cash back credit cards are everywhere, and there’s no financial risk involved in using one responsibly. Plus, they’re available to people of all credit levels. And they’re also the only type of reward that can’t be devalued by the credit card company, because you’re just earning money - $1 will always be $1.
The only difference between the Best Buy® Credit Card and the Best Buy® Gold Visa Credit Card is that the former comes with a $0 annual fee, while the latter charges $59 per year. Your creditworthiness will determine which of the two you get approved for. Both cards offer the same rewards, which include 2.5 points / $1 (5% back) at Best Buy along with 10% back in rewards (5 points per $1 spent) on your first day of purchases made within the first 14 days.… read full answer
Here’s where you can use a Best Buy® Credit Card:
The Best Buy Store Card can only be used at Best Buy.
The Best Buy® Credit Card and Best Buy® Gold Visa Credit Card can be used anywhere that accepts Visa.
All three cards offer 2.5 points / $1 (5% back in rewards) at Best Buy, and 6% for Best Buy Elite Plus members. Best Buy Elite Plus membership is awarded after spending $3,500 in a calendar year.
The Best Buy® Credit Card and Best Buy® Gold Visa Credit Card offer 10% back in rewards (5 points per $1 spent) on your first day of purchases made within the first 14 days.
The Best Buy® Credit Card and Best Buy® Gold Visa Credit Card offer 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, and 0.5 points per $1 spent on all other purchases.
You can use your Best Buy® Credit Card and Best Buy® Gold Visa Credit Card pretty much anywhere as Visa is widely accepted internationally. However, using the Best Buy Store Card is restricted to Best Buy. Regardless of where you use your Best Buy credit cards, you’re still going to get the most bang for your buck at Best Buy. You earn rewards at a higher rate, and those rewards are only redeemable for Best Buy gift certificates.
If rewards on gas and restaurants are what you’re looking for, the PenFed Platinum Rewards offers 5 points / $1 spent on gas purchases. And the Capital One SavorOne gives you 3% cash back on dining and entertainment. And they can both be used anywhere.
The main Best Buy® Credit Card requirements are that an applicant must be at least 18 years old with a valid Social Security number or Individual Taxpayer Identification number. Applicants must also have a physical U.S. address, enough income to make monthly minimum payments, and at least good credit.
Proof of enough income to make the monthly minimum payment
Social Security number or ITIN
Good credit or better
If you apply for the Best Buy® Credit Card, it’s important that you enter all required information completely and accurately. Knowingly reporting false or misleading information on a credit card application is a federal crime.
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