You can get Best Buy credit card cash back by opening an account, making purchases with your card or going to an ATM. But that’s only if you use the term “cash back” loosely. 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 Visa, 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:
Open an account. You get 10% back in Best Buy rewards on your first day of purchases (within 14 days of opening your account). That means if you spend $250, you get a $25 rewards certificate.
Make purchases. You get 5% back in Best Buy rewards on Best Buy purchases. That means if you spend $500, you get a $25 rewards certificate. You’ll also get an extra 1% if you’re a Best Buy Elite Plus member. This is essentially cash back you can only use at Best Buy.
The Visa version of the card, which you can use anywhere, also gives you 3% back on fitness and sporting goods (through March 2018 only), plus 3% back on gas(limited offer with no set end date), 2% on dining and groceries, and 1% on everything else.
Cash advances. If you’re approved for the Best Buy Visa, 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% fee, and a 29.24% APR will take effect immediately. So you should avoid this unless you’re in an emergency.
The closest Best Buy credit cards come to true cash back is the account opening bonus, since that money goes directly back into your pocket. The general rewards, though, only benefit you at Best Buy. So if you’re looking for everyday cash back, you might want to try the likes of Citi Double Cash and Chase Freedom Unlimited instead.