I looked into the Best Buy credit card and looked around and found there are a lot better cards out there.

The best credit card comparison site I came across (where I ended up getting my card from) is called SuperMoney.

If you shop there a lot and make expensive purchases it is probably worth it because I will get emails about no interest for 18 or 24 months on the card if I spend x amount of dollars.

For 0% financing I think there are better cards.

If an extra 4% back on Best Buy purchases as store credit is more valuable to you than travel rewards, sure. Edit: But the US Bank Altitude Reserve gives 4.5% effective back since Best Buy accepts Apple Pay, so that card would be better for many.

Please note, the Best Buy card offers 0% financing OR an extra 4% back. Not both.

If you decide to get the Best Buy card, get the Visa, not the store card.

Certainly better welcome bonuses, doesn't seem worth it to me unless you shop at best buy a lot

A real credit card would be more valuable. U.S. Bank Cash+ would give you 0% APR for 12 months, 200$ after spending 1K, 5% back at electronics stores (bestbuy, microcenter, newegg), and more rewards elsewhere too.

The 0% is fantastic by itself

It’s free money

Hard to say then, the welcome bonuses of other cards outweigh it for me usually. Amazon card gives $100 on acceptance and 5% cash back.

The 10% back on first day purchases could be worth it if you were really gonna spend alot

It would be better to take the first purchase bonus they offer (I think it’s 15% back) instead of the financing. The card offers pretty good rewards promos pretty frequently too

Those in house credit cards can be really stingy on limits so if you have limited history don’t be surprised if you don’t get approved for enough to cover the whole cost.

Apple Card?. Would be better

IMO I wouldn’t get a store card . The experience I’ve had with them in recent years was not good .

if you can afford it, buy it out right. If you are thinking about splitting it up, it means you technically can afford it, but will be tight in some way.... so yea you can't afford it.

I'd say save a bit until your new income comes in and everything is in order. I'm sure there will be deals during the holidays too, so win-win.

I got one a week or so ago. I wasn't sure how much of a limit I'd get so I wanted to check. To my surprise, you aren't told your limit until you already accepted the terms and activated the card (or at least it wasn't obvious until after the app was accepted), so even though I was just checking my limit/approval and not expecting to formally open an account, I ended up with a card. Thankfully, I used it to buy a 5080 lol. 12 months no interest sounds good to me.

If you're planning on buying something and then trying to return it within those 12 months or whatever, that's not gonna fly with BB lol.

just get a regular credit card with rewards that apply to every purchase. Dont fall for the store card like i did. Although nothing bad had come of having it the card is the very least used one i have.

If you don’t know how credit cards work, you probably shouldn’t have one.

“can I buy things use them and return before my finance ends and dont have to pay again?” Nope that’s not how financing works.

I’ve always enjoyed using the Best Buy card for that 0% interest financing. Assuming we mean the Best Buy Citibank CC, I always use the 0% interest option to make my purchase and then I just do the math for what the monthly payment would be (ie: $3000/24mo = $125/mo) and then lock in my autopay and forget about it. That said, I use the card strategically and ONLY for purchases at Best Buy. It’s also not a bad credit building method.

I think it’s only worth it if you’re a frequent Best Buy shopper. Otherwise, the rewards and flexibility aren’t really there compared to a general cashback card.

Does best buy allows split payment via cash and debit card? I need answers asap pls.

Get best buy+ for $49.99 and price match if it goes down in price within 60 days 🫣

Sold someone a laptop the other day. They were hesitant to buy Plus for $49. 2 days later it was $400 off.

Buy the computer & get Plus. Stop fucking around.

It’s not often to have 18 months 0% it’s normally 12 months

the 18-month promotion does not show up often but there will likely be other promotions as we get closer to the holiday season. for example, Best Buy usually drops a 20%-back sign-up bonus during the November/December period to take advantage of the high volume of purchases.

if you really need to finance for 18-months instead of the default 12, just do it during the next major sale period rather than losing that benefit by the time BtS sales roll around. there should be some sales rolling around Father’s Day, July 4, and also sales roll around during each week. there should be plenty of opportunities to get your laptop on sale before the 18-month promotion goes away.

if you’re really that concerned about getting a lower price, go for Best Buy Plus Membership with the card and finance that along with it so you can price match within 2 months after your purchase. that will cover BtS sales assuming that you are purchasing around June/July.

In addition to the other answers, best buy doesn't lose money to fees when using our card, so best buy incentives customers to use our card

It gives people more buying power and brand loyalty to Best Buy. You’re more likely to buy from Best Buy and more likely to buy accessories and Protection if you have the card.

But yeah that’s what Citi gets out of the deal for sure.

Just understand it’s deferred interest. If you don’t pay the purchase off in the allotted time, you’ll be charged interest that’s accrued from day 1.

Gets people to buy items they could might not afford. More money for the company. I've used it probably 20 times, I never pay interest ever.

"Is the sole goal of the Best Buy credit card to entrap people in interest who don't pay off their amounts by the end term date?"

You have just explained how the credit system works for every single credit card you can get. Without people that mess up on payments, they would never offer 0%.

I’d pay $155 or more to get it paid off in 10 months or sooner

Actually, it SHOULD be that simple, but with this card, it isn't.

This is really important to know. On the middle of the screenshot, in small, blue, underlined letters, it says "Apply Payments to Eligible Promotional Balance". You HAVE to select that link, then select the promotion you want your principal payment to go towards, or they WILL NOT pay it off even if you only have one promotional balance or pay an extra $500 per month. If you don't do this, it will all go towards your regular balance, unless this is the only thing you've charged on the card.

Another thing, if your regular payment includes $100 towards your principal, it will not go towards this promotional balance even if you DO select to pay principal towards the promo balance. You have to add additional principal to the $100. So, if the total principal paid was $300, only $200 will go towards paying off the promo balance.

I found this out the hard way. Very annoying, but once you figure the system out, it's ok. Just don't forget about it! It's no fun when all the interest is added on at the end of the interest-free period!

And round up to the nearest $5-$10 just to be safe. That’s what I do and I’ve never had interest on any BBY card.

You could also just divide the balance by 12 since it was the 12 month financing. That gives you the monthly payment.

Not to be rude either but on that screenshot you posted at the very bottom it literally says lowest month payment and there's a section where it let's you set up automatic payments...Just gotta read through it carefully.

Yup that's correct, unless you want to pay more. You just want to make sure your promotional balance is zero by the time the promotional period ends.

You're going to want to pay around $130 a month to avoid interest.

I just got the same offer yesterday. I'm going to let it upgrade and not cancel. As far as I can tell you get the same no interest for xx months offers.Those really help for big appliance purchases. Now with it being a regular visa card. I can use it outside of best buy every few months to keep it open. Best buy is notorious for closing accounts for inactivity. 

Bank cards are basically always better than store cards. But you don’t have to use it outside of the store anyways.

Interest shouldn’t matter, because you should pay the full statement balance. Iirc, Citi offers 0% Best Buy financing through the card anyways.

I think that the same offers available for the store card are available on the Visa card. Plus ability to use other places. They want you to use the card more. Especially if you pay the 30% interest.

I didn't bother opting out last fall. Used it for gas for a few months (3% back) until I found out another card also offers the 3%. Then went through a period earlier this year when I decided to just cut back on excess cards. My BB was one of 3 I closed.

If there is something pricey I ever want to buy at BB where I need the card, such as 10% off a computer or other large purchase, I can just re-apply then.

>isn't interest on these new credit cards stupid insane?

Yes, but the interest rate doesn't matter, because you don't spend money you don't already have in hand, and you're always gonna pay it off completely every single month and never pay a penny in interest. Right? RIGHT!?!?

:-)

As for the specific perks, just type "best buy visa rewards" into a search engine and start reading.

Card brands don't matter. Only how many credit card accounts you have, how old they are, what percentage of your available credit is used, whether there have ever been any late payments, and a few other factors. For example, if all your cards were Citi Visas, that shouldn't be any different than if they were spread across a variety of banks and card networks, as far as your credit score is concerned.

Best Buy visa is an OK card if you don't care that your rewards are only ever available as store credit at Best Buy (as far as I know). But I'd prefer cards with no risk that your accumulated rewards might become worthless if something happened to Best Buy as a company.

For a decent cash back setup, think about getting a card with at least 3% rewards on groceries and dining, since those are the biggest spending categories for most people. Personally I like the Capital One Savor for that, in combination with some 5% cards like your Best Buy card, Amazon Prime, Chase Freedom Flex, Discover it, and then a 2%+ catchall card. There's a good list of these in the sidebar.

If you don't want a lot of cards to keep track of, the 2%+ catchall and the 3%+ grocery/dining are probably the most important ones, IMHO. Add in 5% cards as you find ones that fit your spending habits well.

I got the same letter. I don't see a downside since I only ever use the 0% financing anyway or pay in full whatevee it is I bought. Do you remember when the new cards were supposed to be mailed out? I lost my letter

Personally, I think the Best Buy credit card is a valuable card since they offer such great financing options and since it’s your first card ever maybe consider getting more cards to make up for the Age of your Best Buy card and then once that’s done then cancel it. However I have the regular BBY card that has no AF not sure which one you have but if it does have an AF that would maybe push you to get a no AF use that for a bit and then cancel the BBY again to make up the difference of the Age on your credit. Just my 2¢.

Where did you see this so called "limit" change? Credit limit rarely changes, and certainly don't change back and forth as you described.

The card also has no annual fee, so I don't know what $100 fees you are talking about.

Have you been using the card? Are you sure you paid off everything? Because it sounds like you didn't and are being charged interest. What exactly are those fees? Have you talked to someone at BestBuy or Citi?

Your best bet is to call them asap and ask about the mysterious "fees" you see every August. You should have done this the first time around, but better late than never.

Im in the same situation but my Best Buy card doesn’t charge me any fees. I usually just buy a game or something small on it and pay if off immediately to keep it open although recently used to buy a tv with zero interest. The old line of credit does help your average age of accounts that helps your credit score, but I wouldn’t keep it if its charging you fees.

credit limit is the same unless u get an increase, that doesnt make sense

it sounds like ur paying either 0 or the minimum payment and ur not paying off the entire card? because they have 0% APR financing and u said ur paying $100 in fees, which is probably interest

since the card is free, i would personally keep it open. 6 years of credit history is alot. just bill something small on it and set ur thing on autopay to last statement

I wouldn’t recommend you to cancel this account unless it the Best Buy credit card Gold with 49 or 59.99 annual fee. No annual fees are better keep them open as long as posible