Is The Best Buy Card Worth It?

What are the benefits of a Best Buy credit card?

The top Best Buy credit card benefits include 10% back the day you’re approved, 5% 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..

Can I use my Best Buy card anywhere?

There are two basic Best Buy credit cards This is a “closed-loop” store card, meaning it’s accepted only at Best Buy and BestBuy.com. There is no annual fee. My Best Buy Visa. This is an “open-loop” credit card, accepted anywhere that takes Visa.

Does Best Buy offer financing?

Best Buy financing is a program exclusively at Best Buy where you can make qualifying purchases at the retailer and interest is deferred for a specific period of time. … As long as you pay off the purchase within the agreed amount of time, you won’t’ pay interest.

How do I increase my credit limit with Best Buy?

Log in to your account. Select “Card Services” and then “Credit Limit Increase.”…Here’s how to request a Best Buy credit limit increase by phone:Call customer service at 1-800-347-9700.Enter your card number and ask to speak with a representative.Ask for a higher limit and explain why you deserve it.More items…•

What credit score does Best Buy use?

Vicky Wagner, Member. Citi uses all three major credit bureaus to evaluate Best Buy Store Card applications. That doesn’t mean it will pull all three of your credit reports, though. Citi will mostly use your Experian report, with Equifax also being quite likely.

What credit score is needed for Best Buy store card?

In general, you’ll need a good credit score to be approved for the top Visa card (generally 700-749). Otherwise, you’ll likely need a fair credit score (generally 660-699) to qualify for the standard Best Buy version.

How do I know if I get approved for Best Buy Credit Card?

Most Best Buy credit card approval decisions are issued instantly. You can check your application status by calling the Best Buy Credit Card Center at 1-888-574-1301. If your application is approved, you can expect your new card to arrive by mail within 10 business days.

Is it worth getting a Best Buy credit card?

While those first three cards can be worth it, you’d need to spend over $1,180 per year at Best Buy using the My Best Buy® Visa® Gold before your rewards outweighed the annual fee. That’s not a good deal, especially when you could probably get a credit card for bad credit with no annual fee.

Is Best Buy card hard to get?

Your Best Buy credit card approval odds are pretty good as long as your credit score is at least 640. There are actually two Best Buy credit cards, a Visa and a store card that you can only use at Best Buy. Your odds of Best Buy Visa approval will only be good if your credit score is at least 700.

Will applying for a Best Buy card hurt my credit?

You can apply for the Best Buy credit card without worrying that you will ruin your credit. … This means that you will have a hit on your credit report, which will cause your score to lower. Another way that this card can affect your credit score is if you do not pay your bill in full each month.

How can I build my credit fast?

Steps to Improve Your Credit ScoresPay Your Bills on Time. … Get Credit for Making Utility and Cell Phone Payments on Time. … Pay off Debt and Keep Balances Low on Credit Cards and Other Revolving Credit. … Apply for and Open New Credit Accounts Only as Needed. … Don’t Close Unused Credit Cards.More items…•

Can I take cash out of my Best Buy Credit Card?

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.