The standard Best Buy credit card interest rate is 26.49%. That’s the purchase APR for both the Best Buy Store Card and the Best Buy Visa Card. You could also get a promotional Best Buy credit card APR as low as 3.99% for a limited time. There’s no balance transfer or cash advance APR, because Best Buy credit cards don’t let you make either type of transaction.
Here are the Best Buy credit card interest rates:
26.49%: This is the standard APR for purchases.
11.90%: This APR is on purchases eligible for the 48-month reduced rate credit plan.
3.99%, 5.99%, and 7.99%: With the 60-month reduced rate credit plan, you’ll pay one of these three APRs.
0% for 6, 12, 18, 24, or 36 months: Best Buy offers promotional deferred interest plans on some items. On these plans, there’s no interest if you pay off the item in full by the given due date. But if youdon’t pay it off in the interest free-period, interest will be applied to your entire original purchase amount, as if it had been there from the start.
Items eligible for a reduced Best Buy credit card interest rate will be marked online. In-store, you can ask a sales employee whether a purchase qualifies. And it’s important to note that the 48-month and 60-month reduced rate credit plans are different from the shorter deferred interest plans, which last 6-24 months. The longer reduced rate plans give you a low rate for a certain amount of time, after which you switch to the regular APR for any balance that remains. Deferred interest plans give you a chance to repay your balance without interest. But if you don’t, you get charged interest on the entire original amount.
The HSBC Gold Mastercard, the US Bank Visa Platinum Card, and the Citi Simplicity Card are all better options for financing big purchases. They all offer 0% intro rates for 18 months, with no deferred-interest clause and low regular APRs. With a Best Buy Card, you’re better off paying your balance in full each month.
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