Does the Best Buy Credit Card give cash back?

The top Best Buy credit card benefits include 10% cash back the day you’re approved, 5% cash back on all other Best Buy purchases, no annual fee, no foreign transaction fee, and deferred interest on purchases. The financing side of things is hit or miss, but all the other perks simply help you save. Plus, you only need fair credit to get the Best Buy Store Card (good credit to get the Visa). Either Best Buy offer is a great card to have if you shop at Best Buy a lot.… read full answer

Here are the Best Buy Visa credit card benefits:

• $0 annual fee.
• 0% foreign transaction fees.
• 5 points per $1 spent (10% cash back in rewards) on your first day of purchases made on the credit card within 14 days of account opening.
• 2.5 points per $1 spent (5% cash back in rewards) on qualifying Best Buy purchases when you choose Standard Credit.
• 1.5 Points per $1 spent (3% cash back in rewards) on net purchases made at gas stations.
• 1 point per $1 spent (2% cash back in rewards) on net purchases made at restaurants, bars and grocery stores. Plus, 1 point per $2 spent (1% cash back in rewards) on net purchases made with your credit card outside Best Buy.
• Choose 5% cash back in rewards or flexible financing options. Get a $5 reward certificate for every 250 points.
• My Best Buy Elite Plus members get a 0.5-point bonus (an additional 1% cash back in rewards, total of 6%) per dollar spent using a My Best Buy Credit Card with standard credit.
• Promotional financing. 6-24 months of deferred interest on select purchases.

For the Best Buy Store card you get:

• $0 annual fee.
• N/A foreign transaction fees.
• 5 points per $1 spent (10% cash back in rewards) on your first day of purchases made on the credit card within 14 days of account opening.
• 2.5 points per $1 spent (5% cash back in rewards) on qualifying Best Buy purchases when you choose Standard Credit.
• 3 points (6% cash back in rewards) by spending at least $3,500 in purchases in a calendar year.
• Choose 5% cash back in rewards or flexible financing options. Get a $5 reward certificate for every 250 points.
• Enjoy exclusive discounts and events and free shipping on purchases $35 and up.
• Promotional financing. 6-24 months of deferred interest on select purchases.

The promotional financing offers for the Best Buy credit card can be an attractive benefit, but they’re also somewhat dangerous. Some items are eligible for deferred interest, which means you pay no interest for a certain period of time. But if you don’t pay your full balance by the end of that period, a high interest rate will go back and apply to your original purchase amount. So, the savings you thought you were getting could turn into some nasty extra charges if you’re not careful.

That’s why it’s better to go with a card that gives you true 0% interest. Some examples are Citi Simplicity and the U.S. Bank Platinum Visa. If you have a balance at the end of the 0% period, you’ll only pay interest on the amount that remains, rather than what you originally spent.

Yes, you can use the Best Buy Visa Credit Card anywhere Visa is accepted. And that’s pretty much anywhere that takes plastic. You’ll earn the most rewards at Best Buy, though: 5% back vs. 2% back on dining and groceries, and 1% back on everything else.