What's the Best Buy Credit Card Interest Rate?

This question is about the Best Buy® Credit Card

Bogdan Roberts, Credit Cards Moderator

@bogdan_roberts 05/28/21 This answer was first published on 05/28/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The standard Best Buy credit card interest rate is 25.24% (V). That’s the purchase APR for the Best Buy® Store Card, the Best Buy® Credit Card and the Best Buy® Gold Visa Credit Card. You could also get a promotional Best Buy credit card APR as low as 0% for a limited time.

Here are the Best Buy credit card interest rates:

25.24% (V): This is the standard APR for purchases.

25.24% (V): This is the balance transfer APR. Balance transfers can only be made with the Best Buy® Credit Card and the Best Buy® Gold Visa Credit Card. Each balance transfer is subject to a 5% (min $15) balance transfer fee.
27.99% (V): This is the cash advance APR. You can make a cash advance only with the Best Buy® Credit Card and Best Buy® Gold Visa Credit Card. Cash advances are subject to a 5% (min $10) cash advance fee.
0% to 12.99% for 12 to 48 months: This is a deferred interest rate that is offered for select purchases.

The Best Buy credit cards also offer 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 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:

90%: This APR is for select purchases eligible for the 48-month reduced rate credit plan.
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.

The HSBC Gold Credit Card and the U.S. Bank Visa® Platinum Card are better options for financing big purchases as their introductory interest rates are not deferred. U.S. Bank Platinum offers an introductory purchase APR of 0% for 20 billing cycles (14.49% - 24.49%* (V), based on creditworthiness, thereafter). And HSBC Gold Credit Card offers an introductory purchase APR of 0% for 18 months (13.99% - 23.99% (V), based on creditworthiness, thereafter). It’s also worth having a look at our editors’ picks for the best 0% Intro APR credit cards. 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.

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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. 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/$1) on your first day of Best Buy purchases charged to either card within 14 days of account opening.

The Best Buy® Credit Card and Best Buy® Gold Visa Credit Card offer 3% back (1.5 points/$1) on gas station purchases and 2% back (1 point/$1) on restaurants, bars and groceries. In addition, you get 1% back in rewards (0.5 points / $1) on any other purchase made outside of Best Buy.

You can use your Best Buy® Credit Card and Best Buy® Gold Visa Credit Card pretty much anywhere as the Visa card network is the most 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 value for your buck at Best Buy. You earn rewards at a higher rate at Best Buy, 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 Visa Signature® Card offers 5 points / $1 spent on gas purchases, while the Capital One SavorOne Cash Rewards Credit Card gives you 3% cash back on dining, entertainment, popular streaming services and grocery store purchases. And they can both be used anywhere.

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What are my Best Buy credit card approval odds?

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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