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Best Buy points are worth 2 cents each, on average. For example, 10,000 Best Buy points have a dollar value of roughly $200. As a result, Best Buy points are worth about the same amount as the average retail rewards points, which are valued at 2 cents each.
The easiest way to calculate the value of a retailer's rewards points for any redemption method is to determine the dollar value of what you're redeeming for, minus any taxes and fees that you'll still have to pay, and then divide that amount by the number of points you're required to redeem. For your convenience, here's the formula for Best Buy points:
Dollar Value of Redemption Item / Number of Best Buy Points Needed = Best Buy Point Value
How to Earn More Best Buy Points
It's important to remember that while you can't change the redemption values of Best Buy points, you can increase the rate at which you earn them. One of the best ways to increase the number of Best Buy points that you earn is to apply for either the Best Buy Visa or the Best Buy Store Credit Card. That can also help you reach a higher status tier in the My Best Buy program, further boosting your earning potential.
Best Buy Points vs. The Competition
| Rewards Program | Average Point Value | Value of 1,000 Points |
| 2 cents | $20.00 | |
| 1 cent | $10.00 | |
| 1 cent | $10.00 | |
| 1 cent | $10.00 | |
| 5 cents | $50.00 |
People also ask
How do I get the Best Buy Credit Card sign-up bonus?
The Best Buy® Credit Card bonus is 10% back in rewards (5 points per $1 spent) on your first day of purchases made within 14 days.
You should keep in mind, however, that you will not be eligible for this introductory bonus if you currently have the Best Buy® Credit Card, regardless of whether you previously earned the bonus. You also may not be eligible if you recently earned the bonus.
In addition to the sign-up bonus, the Best Buy® Credit Card offers 2.5 points per $1 spent on Best Buy purchases, 1.5 points per $1 spent at gas stations, 1 point per $1 spent at restaurants (including takeout), bars and grocery stores, and 0.5 points per $1 spent on all other purchases. Its annual fee is $0, and it is available to people with good credit.
read full answer by Chip Lupo, Credit Card WriterWhat are the top Best Buy credit card benefits?
The best Best Buy® Credit Card benefits are $0 fraud liability protection and monthly credit bureau reporting. These perks are certainly good to have, though it’s important to note that they’re also relatively common credit card benefits.
Best Buy® Credit Card Benefits
- $0 fraud liability protection
- Monthly credit bureau reporting
- Rewards of 0.5 - 2.5 points per $1 on purchases
While these benefits aren’t bad, the Best Buy® Credit Card simply doesn’t have as many benefits as a lot of the other...
read full answer by Chip Lupo, Credit Card WriterCan I use my Best Buy Credit Card anywhere?
Yes, you can use the Best Buy® Credit Card anywhere that accepts cards on the Visa network. That means you can use the Best Buy® Credit Card at 10.7 million merchant locations in the U.S., as well as with millions more merchants across 200 countries and territories worldwide.
The Best Buy® Credit Card has a 0% foreign transaction fee, which means you won't incur extra charges for international purchases. The card also comes with an annuals fee of $0 and offers 0.5 - 2.5 points per $1 spent...
read full answer by Chip Lupo, Credit Card WriterDid we answer your question?
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