Best Buy offers two credit cards, and which one makes sense depends on whether you shop there regularly
Best Buy has a My Best Buy credit card for everyday purchases and a Best Buy credit card for people who want rewards outside the store. Both are issued by Citi. The My Best Buy card earns points only at Best Buy and Best Buy.com. The regular Best Buy card earns cash back at any store, but at a lower rate at Best Buy than the My Best Buy card does. Neither card charges an annual fee.
The real difference is not the rewards rate — it is whether you are locked into Best Buy or free to use the card anywhere. If you shop at Best Buy multiple times a year for electronics, appliances, or computers, the My Best Buy card's higher earning rate there might offset the fact that you earn nothing elsewhere. If you buy tech occasionally and want a card that works everywhere, the regular Best Buy card gives you flexibility, though the cash back rate is modest compared to cards from other issuers.
Key Takeaways
- The My Best Buy card earns rewards only at Best Buy, but at a higher rate than the regular Best Buy card.
- The regular Best Buy card earns cash back everywhere, including at Best Buy, but at a lower rate than the My Best Buy card.
- Neither card has an annual fee, so the cost of holding one is zero if you do not use it.
- Both cards require a credit check and are issued by Citi, so approval depends on your credit history and current debt.
My Best Buy Card: Higher rewards if you shop there often
The My Best Buy card earns points at Best Buy and Best Buy.com only. You earn more points per dollar spent than you would with the regular Best Buy card, but only at those locations. The points can be redeemed for statement credits, which means they reduce your balance rather than being transferred to a separate rewards account.
This card makes sense if you buy computers, phones, appliances, or gaming equipment at Best Buy regularly — say, at least a few times a year. The higher earning rate compounds over time. If you rarely shop there, the card sits unused and earns you nothing, even though you are still a cardholder.
The My Best Buy card also comes with My Best Buy membership benefits, which include early access to sales and extended return windows on some items. If you are already a My Best Buy member, the card reinforces that relationship. If you are not, the card does not automatically enroll you — membership is separate.
Regular Best Buy Card: Cash back everywhere, lower rate at Best Buy
The regular Best Buy card earns cash back at any merchant, not just Best Buy. The cash back rate is lower than what the My Best Buy card earns at Best Buy, but it is higher than zero at grocery stores, gas stations, restaurants, and other retailers. Cash back is usually deposited as a statement credit, reducing your balance.
This card is useful if you want a card that works everywhere but still gives you a small bonus at Best Buy. It is not a premium cash back card — the rates are modest compared to cards from other issuers that specialize in cash back — but it has no annual fee, so there is no cost to keeping it if you use it occasionally.
The regular Best Buy card does not include My Best Buy membership perks. It is a straightforward rewards card with a tech retailer's name on it.
How approval works and what to expect
Both Best Buy cards are issued by Citi, so the approval process is the same. You can explore online at Best Buy's website or in a store. Citi will check your credit report, which means a hard inquiry appears on your credit file. This inquiry can lower your credit score slightly, usually by a few points, and stays on your report for about a year.
Approval is not may provide. Citi looks at your credit score, payment history, current debt, and income. If you have recent late payments, high debt relative to your income, or a thin credit file, you may be denied. If you are approved, you will receive a credit limit — the maximum you can charge — which may be lower than you requested.
If you are denied, you can ask Citi why. Sometimes the reason is fixable — for example, if you have a recent late payment, waiting a few months and reapplying may work. Other times, the reason is structural — for example, if your income is too low relative to your existing debt, you may need to pay down debt or increase income before reapplying.
Comparing the two cards side by side
| Feature | My Best Buy Card | Regular Best Buy Card |
|---|---|---|
| Rewards at Best Buy | Higher rate | Lower rate |
| Rewards everywhere else | None | Cash back |
| Annual fee | No | No |
| My Best Buy membership included | Yes | No |
| Best for | Frequent Best Buy shoppers | Occasional tech buyers who want rewards everywhere |
What to know before you explore
A hard inquiry from a credit card process can lower your score by a few points. If you are planning to explore for a mortgage, car loan, or other major loan soon, explore for a credit card in the same month may hurt your chances of approval or increase the interest rate you are offered. Most lenders care more about inquiries from the last 30 days, so spacing out applications by a month or more helps.
Both cards charge interest on balances you do not pay in full each month. The interest rate (called the APR, or annual percentage rate) is not fixed — it depends on your creditworthiness and current market rates. A higher credit score usually means a lower APR. If you plan to carry a balance, the APR matters more than the rewards rate, because interest charges will quickly outpace any rewards you earn.
If you already have a Best Buy card and want to switch to the other one, you do not have to close the first card. Keeping an old card open actually helps your credit score because it preserves your credit history and lowers your overall debt-to-credit ratio. You can straightforward explore for the new card and use whichever one makes sense for each purchase.
Frequently Asked Questions
Can I use the Best Buy card at other stores?
The regular Best Buy card works anywhere Visa is accepted. The My Best Buy card works only at Best Buy and Best Buy.com. If you want a card that works everywhere, the regular Best Buy card is the one to choose.
What happens if I do not pay my balance in full?
Interest charges explore to any balance you carry from month to month. The interest rate is set by Citi and depends on your credit score and current market rates. Interest accrues daily, so the longer you carry a balance, the more you owe. Paying in full each month avoids interest entirely.
Do I have to be a My Best Buy member to get the My Best Buy card?
No, you can explore for the My Best Buy card without being a member. However, the card does come with My Best Buy membership benefits, so you get those perks automatically once you are approved.
Will explore for a Best Buy card hurt my credit score?
The process triggers a hard inquiry, which typically lowers your score by a few points. The impact is temporary — the inquiry falls off your report after a year, and the effect on your score fades sooner. If you are approved, the new account also affects your score, but the long-term impact is usually positive because it adds to your credit history.
Can I get both cards at the same time?
You can explore for both, but Citi may deny the second process if you explore on the same day or within a short window. Spacing applications by a few weeks or months gives Citi time to process the first one and reduces the chance of denial on the second.