The Best Buy Card rewards you on tech purchases but charges an annual fee

Best Buy offers two co-branded credit cards through Citi: the Best Buy Card (no annual fee) and the Best Buy Plus Card ($199 annual fee). Both earn rewards on purchases at Best Buy and Best Buy's online marketplace. The Plus Card earns more per dollar spent and includes additional perks like extended warranties and return windows. Neither card is a rewards card for everyday spending outside Best Buy — the cash back rates are low or nonexistent on groceries, gas, and other categories.

The choice between them depends on how much you spend at Best Buy annually and whether the extra benefits justify the $199 fee. A household that buys computers, monitors, appliances, and gaming gear regularly may break even quickly. Someone who visits Best Buy a few times a year will likely save money with the no-fee version.

Key Takeaways

  • The Best Buy Card earns 1.5% cash back on Best Buy purchases with no annual fee, while the Best Buy Plus Card earns 2% cash back but costs $199 per year.
  • Both cards offer special financing options on large purchases, typically 12 to 24 months interest-free depending on the item and promotion.
  • The Plus Card includes extended return windows (60 days instead of 15), extended warranties, and price protection that the standard card does not.
  • Rewards are issued as Best Buy certificates that expire after two years, so you must use them or lose them.
  • These cards offer no rewards outside Best Buy, making them poor choices for general spending or travel.

Rewards rates and how they compare to other tech cards

The Best Buy Card earns 1.5% cash back on all Best Buy purchases. The Best Buy Plus Card earns 2% cash back on the same purchases. Both earn 1% on all other purchases. For context, a general-purpose rewards card like the Chase Sapphire Preferred earns 2% on dining and travel but only 1% on most other categories. A card like the American Express Blue Cash Preferred earns 3% on internet, cable, and streaming services but requires an annual fee of $95.

The Best Buy cards' advantage is narrow: they reward you specifically for tech and appliance purchases at Best Buy. If you buy a $2,000 laptop, you earn $30 to $40 in rewards depending on which card you hold. The same purchase on a 2% flat-rate card would earn $40. The Best Buy Plus Card pulls ahead only if you spend enough to offset the $199 annual fee — roughly $10,000 per year in Best Buy purchases to break even on rewards alone.

Rewards are issued as Best Buy certificates, not cash back. They arrive in your account within 30 days and expire after two years. You cannot transfer them, combine them with another account, or redeem them for anything other than Best Buy merchandise and services. This matters if you plan to leave the card unused for long stretches.

Special financing and promotional offers

Both cards offer promotional financing on may have access to purchases. Best Buy regularly runs 12-month, 18-month, and 24-month interest-free financing offers on items like computers, appliances, TVs, and audio equipment. The specific terms change by product and season. You must make at least the minimum monthly payment to keep the promotional rate — miss a payment and the full interest accrues retroactively.

These offers are not exclusive to cardholders. Best Buy offers the same financing to customers paying with other cards or cash, though the terms may differ. The card does not automatically unlock longer financing windows. You see the available terms at checkout, and the card straightforward makes it easier to manage the payments in one place.

If you carry a balance beyond the promotional period, the card's standard APR applies. Best Buy does not publish a standard APR range on its website — you learn the rate only after you are approved. This is typical for retail cards, but it means you cannot compare the card's regular interest rate to competitors before explore.

Extended returns, warranties, and price protection

The Best Buy Plus Card extends your return window from 15 days to 60 days on most items. This matters for large purchases where you might need time to test the product or compare it to alternatives. The standard Best Buy return policy allows 15 days for most electronics and 30 days for appliances; the Plus Card adds 45 extra days on top of that window.

The Plus Card also includes extended warranty coverage. Best Buy's standard warranty is typically one year on most electronics. The card extends this to two years total. This is useful for laptops, tablets, and mid-range appliances, though high-end items often come with manufacturer warranties that already exceed two years. You do not need to purchase Best Buy's separate protection plan if you hold the Plus Card — the coverage is automatic.

Price protection is included on the Plus Card: if the price of an item you bought drops within 15 days, the card will refund the difference. This applies to Best Buy purchases only. You must request the refund within 15 days of purchase and provide proof of the lower price.

Annual fee and whether it makes financial sense

The Best Buy Plus Card costs $199 per year with no waiver for the first year. You pay the fee whether you use the card or not. To justify the fee, you need to earn at least $199 in rewards annually, which requires roughly $10,000 in Best Buy spending per year (at the 2% rate). That breaks down to about $833 per month.

For a household that buys a new computer every two years, replaces a monitor or printer annually, and occasionally upgrades appliances, $10,000 per year is realistic. For someone who buys a gaming console every few years and the occasional accessory, the fee will cost more than the rewards earned.

The extended return window and warranty coverage have real value if you use them, but they are not worth $199 on their own. Best Buy's 15-day return window is standard for electronics, and most items come with manufacturer warranties. The Plus Card's additions are conveniences, not necessities. Factor them in only if you know you will use them.

How the Best Buy Card compares to store cards from other retailers

Best Buy's card structure mirrors those of other major retailers. Target's RedCard earns 5% on Target purchases but has no annual fee. Amazon's store card earns 3% on Amazon purchases and 1% elsewhere, also with no fee. Costco's card earns 2% on Costco purchases and 1% elsewhere, with a $60 annual fee. Best Buy's Plus Card sits in the middle: higher rewards than most store cards, but also a higher annual fee.

The key difference is category breadth. Target and Amazon cards reward you across a wider range of products and services. Best Buy's card is narrower — it rewards you only at Best Buy. This makes it useful only if Best Buy is your primary tech retailer. If you buy laptops from Amazon, monitors from Newegg, and gaming gear from specialty retailers, the Best Buy Card will not help much.

Store cards also typically offer financing promotions that are available to all customers, not just cardholders. Best Buy is no exception. You do not need the card to access 12-month or 24-month interest-free financing on large purchases — you can use any payment method. The card straightforward bundles the financing with rewards and extended benefits.

Who should and should not get this card

Get the Best Buy Card (no fee) if you shop at Best Buy regularly and want to earn rewards on those purchases. It costs nothing and earns 1.5% on every Best Buy purchase. There is no downside to holding it if you already plan to shop there. The rewards are modest, but they are free.

Get the Best Buy Plus Card if you spend at least $10,000 per year at Best Buy and value the extended return window and warranty coverage. This applies to small business owners who buy computers and equipment regularly, households that replace appliances frequently, or tech enthusiasts who upgrade gaming and audio gear often. For everyone else, the $199 fee will exceed the rewards earned.

Skip both cards if you buy tech from multiple retailers or rarely shop at Best Buy. A general-purpose rewards card will serve you better. If you do shop at Best Buy occasionally, use the no-fee card and ignore the Plus version unless your spending genuinely justifies it.

Frequently Asked Questions

Can I use the Best Buy Card outside Best Buy?

Yes, but the rewards rate drops to 1% on non-Best Buy purchases. For everyday spending like groceries or gas, a general-purpose rewards card earning 1.5% or 2% flat will earn more. The Best Buy Card is best used only at Best Buy.

What happens to my rewards if I close the card?

Your Best Buy certificates remain valid for two years from the date they were issued, even if you close the card. You can continue to use them at Best Buy or online during that window. After two years, they expire and cannot be recovered.

Does the card offer travel or purchase protection?

The Best Buy Card offers no travel insurance, trip cancellation coverage, or purchase protection beyond what the Plus Card includes. If you are looking for travel benefits, a premium rewards card like the Chase Sapphire Preferred or American Express Platinum will serve you better.

Can I use the financing offers without the card?

Yes. Best Buy offers the same promotional financing (12 months, 18 months, 24 months interest-free) to all customers regardless of payment method. The card does not unlock exclusive financing terms — it straightforward makes it easier to track payments if you choose to use the card for the purchase.

What is the APR if I carry a balance after the promotional period ends?

Best Buy does not publish the standard APR on its website. The rate is determined after you are approved and depends on your credit score and creditworthiness. You can call Citi to ask about the typical range before explore, but you will not know your exact rate until approval.