While credit card exchange rates normally also include foreign transaction fees, the Best Buy® Credit Card does not charge foreign fees. This means the Best Buy® Credit Card will save cardholders 1.44% on purchases with international merchants, compared to the average credit card offer. As long as cardholders avoid dynamic currency conversion, the exchange rates they'll pay on international spending with this card will be much lower than those they'd get from converting cash with banks, credit unions, or airport currency exchange services.
Deferred interest: 0% - 12.99% for 12 - 48 months This is a deferred interest rate that is offered for select purchases.
Keep in mind that, on deferred interest plans, there’s no interest if you pay off the item in full by the given due date. But if you don’t pay it off in the interest-free period, then interest will be applied to your entire original purchase amount, as if it had been there from the start.
Here are the deferred interest plans offered by the Best Buy credit cards:
11.90%: This APR is for select purchases eligible for the 48-month reduced rate credit plan.
8.99%-12.99%: This APR is for select purchases eligible for the 36-month reduced rate credit plan.
0%-11.99%: This APR is for select purchases eligible for the 24-month reduced rate credit plan.
0% for up to 24 months: These offers are not available all the time and are limited to specific merchandise.
Items eligible for a reduced interest rate will be marked online. In-store, you can ask a sales employee whether a purchase qualifies.
Having said that, if you’re planning a big-ticket Best Buy purchase that you won’t be able to repay completely within a single billing period, you’re better off getting a 0% credit card that’s not affiliated with a retailer. You can check out our editors’ latest picks for the best 0% Intro APR credit cards to weigh your options. But if you opt for a deferred interest plan with a Best Buy® Credit Card, you’re better off paying your balance in full each billing cycle.
There’s no publicly disclosed minimum Best Buy® Credit Card limit. Your limit is based on both your yearly income and your credit standing, and you’ll be notified of the amount when you get your card. And that’s true for both the Best Buy® Credit Card and the Best Buy® Store Card… read full answer.
While you won’t know your Best Buy® Credit Card credit limit ahead of time, there are a few pieces of information that can help you estimate what it could be. I’ll go into them below.
Here’s what you should know about Best Buy® Credit Card limits:
Your limit will be based on your income and credit history, and you’ll find out what it is when you get your card.
Your credit score will play an important part in the credit limit decision. The Best Buy Store Card requires fair credit, and the Best Buy® Credit Card requires good credit.
There are reports online of people receiving limits of $6,200 and $3,000 for the Best Buy Store Card and $1,200 for the Best Buy Store Card. You shouldn’t expect to get a higher limit with the store card, though.
Whatever your Best Buy® Credit Card limit ends up being, it’s best for your credit score if you use only 30%-40% of it. And if you need to spend a significant amount, paying the balance as soon as possible is always a good idea.
Yes, using a credit card internationally is the best way to go about paying for things when you’re abroad. It’s safer because you don’t have to carry as much cash, and all major credit card companies offer $0 fraud liability guarantees. Using a credit card internationally also gets you the … read full answerbest currency exchange rates, and it’s a great opportunity to earn rewards.
Here are some tips for using a credit card internationally:
Full protection from unauthorized charges: Credit cards allow you to minimize the amount of cash you carry abroad and provide the opportunity to earn rewards. They also come with $0 fraud liability.
Avoid foreign transaction fees: Many credit cards come with foreign transaction fees when you buy from internationally-based merchants. These fees are typically 1%-3% of the purchase amount. If you go abroad, you should get a card with no foreign transaction fee.
Set travel alerts: Many credit card companies ask that you set a “travel alert” before leaving the country. It’s not mandatory. But if you don’t, they might suspect that international purchases are fraud and suspend your spending privileges until you notify them otherwise.
Wider acceptance and more protection with chip cards: You’ll have a smoother experience using a credit card internationally if it’s a “chip” card. Many unmanned payment terminals abroad will not take cards that have only a magnetic stripe. And merchants may even give you a hard time if your card doesn’t have a chip.
Refuse Dynamic Currency Conversion: Choose to pay in the local currency. Merchants may offer to let you pay in U.S. dollars, a practice known as Dynamic Currency Conversion. But it’s often an excuse to use an unfair exchange rate (often as much as 7% higher) and overcharge you.
Avoid cash advances: Credit card cash advances allow you to get cash from your card’s credit line. However, cash advances are subject to hefty fees and interest rates that accrue immediately, with no grace period. So it’s best to avoid them outside of emergency use.
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