A Best Buy credit card is a line of credit offered by the company Best Buy to its customers for the purchase of their products in the store or online. Best Buy is a leading provider and retailer of technology products, services, and solutions. Their products and services can be availed via store visits or online transactions. By using their offered credit card, customers can have an easier and faster way of paying for their purchases.
Best Buy offers two types of credit cards – one is a store only credit card, which can only be used for in-store or Best Buy website purchases, while the other one is a Best Buy Visa Card which can be used for both Best Buy and other company purchases.
There are two ways to apply for a Best Buy credit card – online or in-store. For both application processes, the customer must be at least 18 years of age (for US residents) or 21 years old (Puerto Rico) and present a social security number and government-issued ID with photo.
Best Buy credit cards finance the purchases of customers who are unable to pay in cash or who leverage their financial needs. The card has multiple promotional financing offers and flexible financing options where interest charges are deferred for a set time period, such as:
Interest won’t accrue if the card’s outstanding balance is paid in full by the end of the promotional period. If this condition is not met, then interest will accrue on each month’s balance based on the annual percentage rates (APR). Compare that to simple interest. The grace period for paying the account in full is 25 days after the close of each billing cycle.
Both Best Buy credit cards provide reward points, which are 5% of each purchase. The Best Buy Visa card has more to offer though, by also giving 2% back in rewards for food and grocery purchases plus an extra 1% on other everyday items.
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