The Best Buy® Credit Card cash advance fee is 5% (min $10) per transaction, whichever is higher. A cash advance fee is charged when using Best Buy® Credit Card for cash withdrawals at an ATM, with a cash advance check, or in person at participating locations.
Bear in mind that when you make a cash advance, you will incur other costs in addition to the Best Buy® Credit Card cash advance fee. There’s a separate cash advance APR that applies immediately after you complete the transaction. The ATM owner may also impose additional charges.
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.… read full answer
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.
Yes, the Best Buy® Credit Card does give cash back, but that’s only if you use the term “cash back” loosely. You can get Best Buy® Credit Card cash back by making purchases with your card.
However, if you’re thinking of “cash back” as a way to withdraw money, keep in mind that credit card cash advances are extremely expensive. So you should only do one if you’re in an emergency and need cash right away.… read full answer
More info about Best Buy® Credit Card cash back
Best Buy credit cards don’t give you true cash back rewards that you can use anywhere. Rather, Best Buy cash back is more like store credit that you earn gradually. And you can’t get cash back at the register, like at some department stores. Your only option for cold, hard cash is a cash advance at an ATM, which is way too expensive to be worthwhile. Plus, you can only do that with the Best Buy® Credit Card, not the Best Buy® Store Card.
Still, if you’re interested in both a Best Buy credit card and getting cash back, it pays to know what your options are and how they compare. Perhaps you’ll need to find a different card, or maybe one of the Best Buy options actually offers what you’re after.
Here’s how to get Best Buy® Credit Card cash back:
Through the initial bonus. You get 10% back in rewards (5 points per $1 spent) on your first day of purchases made within the first 14 days of account opening.
Make purchases. You can earn 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
Cash advances. If you’re approved for the Best Buy® Credit Card, you can withdraw cash from an ATM up to your “cash limit,” which is listed on your monthly statement. But you’ll have to pay a 5% (min $10) fee. Plus, the card also has a 28.74% (V) APR, which will take effect immediately. So, you should avoid this unless you’re in an emergency.
To raise your chances of being approved for a higher credit limit, pay your bill on time for at least six straight months, reduce your outstanding debt, and update the income the issuer has on file. The issuer will be more likely to increase your credit limit if the revised income clearly shows that you can afford a higher limit.… read full answer
Here’s how to request a Best Buy® Credit Card credit limit increase online:
Select “Card Services” and then “Credit Limit Increase.”
Provide the required financial information (such as income) and hit "Next". You’ll be told how much you qualify for in a few seconds.
If you’re offered a higher limit, you’ll have the option to either accept it or request a larger amount. If you request a bigger increase, the issuer will do a hard pull on your credit, which will temporarily hurt your score.
You should receive a decision in just a few seconds. If you’re approved for a Best Buy® Credit Card credit limit increase, the new limit is effective immediately.
Impact of a Best Buy® Credit Card Credit Limit Increase on Your Credit Score
When you request a Best Buy® Credit Card credit limit increase, the issuer will conduct a hard pull of your credit report, which will cause a short-term dip in your credit score. The issuer cannot do a hard pull without your permission, though.
Alternatively, you could be eligible for a Best Buy® Credit Card credit limit increase without even requesting one. The Best Buy® Credit Card may offer an automatic credit limit increase if the issuer’s regular review of your account shows a history of on-time payments and low debt. An automatic credit limit increase involves a soft pull, which does not affect your credit score.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.