What the Citi Best Buy Credit Card does
The Citi Best Buy credit card is a rewards card designed specifically for people who shop at Best Buy. It earns points on every purchase you make there, and those points convert directly into Best Buy gift cards or certificates you can use in-store or online. You get a higher earning rate at Best Buy than you would with a general rewards card, which is the main reason to carry it if you shop there regularly.
The card comes in two versions: one with an annual fee and one without. The no-annual-fee version earns a lower rate of points per dollar spent. The paid version earns more points per dollar but charges you a yearly fee, so the math only works if you spend enough at Best Buy to earn back more than the fee costs. Best Buy also runs periodic bonus point promotions for cardholders, which can shift the value calculation.
This is not a travel rewards card, a cash-back card, or a general-purpose card. It is built for a specific retailer. That means its value depends entirely on how much you actually spend at Best Buy and whether you would use the points you earn.
Key Takeaways
- The card earns points only at Best Buy (or at a higher rate there), so it makes sense only if you shop there regularly enough to offset any annual fee.
- Points convert to Best Buy gift cards or certificates, not cash or airline miles, so you must be willing to spend the rewards at that retailer.
- The no-annual-fee version exists but earns fewer points per dollar, so compare the earning rate against the paid version's fee to see which saves you money.
- Best Buy runs bonus point promotions throughout the year, and these can significantly increase the card's value during certain periods.
- The card's rewards are only useful if you actually redeem them, so factor in whether you will actually convert points to gift cards or let them sit unused.
The two versions and their earning rates
Citi offers this card in two forms. The standard version has no annual fee and earns a base rate of points per dollar at Best Buy. The premium version charges an annual fee but earns a higher base rate of points per dollar at Best Buy, plus it may include additional perks like exclusive sales access or bonus points on certain product categories.
To decide which version makes sense for you, calculate your annual Best Buy spending and multiply it by the earning rate difference. If you spend $2,000 a year at Best Buy and the premium version earns 1 extra point per $100 spent compared to the no-fee version, that's 20 extra points per year. Then check what those points are worth in Best Buy gift cards. If the value of those extra points is less than the annual fee, the no-fee version is the better choice. If it exceeds the fee, the premium version pays for itself.
Best Buy also runs limited-time bonus point offers for cardholders—sometimes doubling or tripling points on specific product categories for a set period. These promotions can swing the value calculation, so check Best Buy's website or your cardholder materials before deciding which version to open.
How points convert to rewards you can actually use
Points on this card do not sit in an abstract account. They convert directly into Best Buy gift cards or certificates that you redeem at the register or online. The conversion rate is fixed: a certain number of points equals a specific dollar amount of Best Buy credit. You do not choose between cash, travel, or merchandise—it is Best Buy credit only.
This matters because it means your rewards are only valuable if you plan to spend money at Best Buy anyway. If you earn 500 points but never shop there again, those points are worthless. Unlike a cash-back card where you can use the money anywhere, or a travel card where you can book flights, this card locks your rewards into a single retailer.
You can check your points balance through your Citi account online or by phone. When you have enough points to convert to a gift card, you initiate the redemption through your account, and Best Buy mails you the certificate or adds the credit to your Best Buy account if you have one.
Annual fees and when they make financial sense
The annual fee on the premium version varies and is charged once per year. To know whether paying it makes sense, you need to know three things: how much you spend at Best Buy annually, the earning rate difference between the two versions, and what those extra points are worth in dollars.
Here is a concrete example: if the premium version costs $95 per year and earns 2 points per dollar at Best Buy while the no-fee version earns 1 point per dollar, you need to earn at least $95 worth of extra points to break even. If each point is worth $0.01 in Best Buy credit, you would need 9,500 extra points per year, which means you would need to spend $4,750 annually at Best Buy. If you spend less than that, the no-fee card saves you money. If you spend more, the premium card pays for itself.
The fee is charged on your statement once per year, usually on your account anniversary. You can cancel the card before that date to avoid the fee, though you would lose access to any points you have accumulated.
What happens to your points if you close the card
If you close the Citi Best Buy card, your points do not disappear when ready, but they may expire after a set period of inactivity. Check your cardholder agreement for the exact policy, as point expiration rules vary by card issuer and can change. Some cards give you a grace period to redeem points after closing; others do not.
The safest approach is to redeem all your points before you close the card. Convert them to a Best Buy gift card or certificate, and you keep the value. Once you close the account, you lose the ability to earn new points, but any gift cards you have already received are yours to use.
If you are thinking about closing the card because the annual fee is not worth it, redeem your points first, then close before the next fee posts. This way you get the value of what you earned without paying another year's fee.
How this card compares to other rewards options
A general-purpose cash-back card typically earns 1 to 2 percent cash back on all purchases, including Best Buy. The Citi Best Buy card earns more points per dollar at Best Buy specifically, but those points are locked into Best Buy credit. If you shop at Best Buy regularly and nowhere else, the Best Buy card likely gives you more value. If you shop at many retailers and want flexibility, a cash-back card is more useful even if the earning rate is lower.
A travel rewards card earns points toward flights or hotel stays, which may be worth more per point than Best Buy credit, depending on how you redeem. But again, those points are not useful if you do not travel or do not want to use them for travel.
The key question is not which card has the highest earning rate in a vacuum, but which card's rewards you will actually use. A card that earns 5 points per dollar at a store you never visit is worthless. A card that earns 1 point per dollar at a store where you spend $10,000 a year is valuable.
Bonus point promotions and how to track them
Best Buy runs periodic promotions that offer extra points to cardholders on specific purchases. These might be "earn 5x points on all laptops this weekend" or "earn triple points on all purchases in December." These promotions can significantly increase the value of the card during certain periods, so it is worth checking before making a large purchase.
You can find current promotions on Best Buy's website under the credit card section, in your Citi cardholder materials, or by calling the customer service number on the back of your card. Some promotions are automatic; others require you to opt in or meet a minimum purchase amount. Read the terms carefully so you understand what you need to do to earn the bonus points.
If you are planning a large tech purchase, timing it to coincide with a bonus point promotion can add significant value. A $2,000 laptop purchase during a 5x points promotion earns 10,000 points instead of 2,000, which could be worth $100 or more in Best Buy credit depending on the conversion rate.
Frequently Asked Questions
Do I earn points on Best Buy purchases made with a different card?
No. Points are earned only when you use the Citi Best Buy card itself. If you pay with cash, a different credit card, or a debit card, you earn no points on that purchase. This is why the card is only valuable if you actually use it at Best Buy rather than leaving it at home.
Can I use my Best Buy points to pay my credit card bill?
No. Points convert only to Best Buy gift cards or certificates, not to statement credits or payments toward your balance. You must redeem them as Best Buy credit and then use that credit to make purchases at Best Buy.
What if I earn points but never redeem them?
Points may expire after a period of inactivity, typically one to three years depending on the card's terms. Check your cardholder agreement for the exact policy. If points expire unused, you lose their value, so redeem them before they expire or before you close the card.
Does the card earn points on Best Buy gift cards I purchase?
This varies by card and by Best Buy's current policy. Some cards earn points on gift card purchases; others do not. Contact Citi or Best Buy directly to confirm the current rule, as policies can change.
Can I transfer my points to someone else?
Points are typically tied to your account and cannot be transferred to another person. However, once you redeem points into a Best Buy gift card, that gift card can be given to anyone. So if you want to give your rewards to someone else, redeem them to a gift card first.