If you spend so much time at Best Buy that you’re an honorary member of the Geek Squad, you might be considering getting a credit card from the retailer. But if your credit needs some work, you may be wondering, “How can I get approved for a Best Buy credit card?”
How Does the Best Buy Credit Card Work? An Overview
Best Buy offers two credit cards: the My Best Buy Credit Card and the My Best Buy Visa®. With each card, you’ll get 5% back in rewards on most Best Buy purchases (or 6% if you’re a My Best Buy Elite Plus member).
Best Buy Credit Cards Rewards and Benefits
Applicants can choose between the rewards or promotional financing — six to 24 months with deferred interest — on purchases of $199 or more.
The main difference between the cards is that the benefits stop there with the My Best Buy Credit Card. It’s a closed-loop card, so you can only use it at Best Buy.
With the My Best Buy Visa®, you’ll also get 2% back on dining and 1% back everywhere else. The card also runs promotional bonuses.
For example, through December 2018, the card offered 3% back on grocery and furniture purchases, and it’s also running a 3% back promotion on gas purchases with no current expiration.
How can I get approved for a Best Buy credit card?
If you want to get one of these cards, it’s important to know the Best Buy credit card approval requirements. Because the Visa-branded card offers better rewards and wider acceptance, you’ll typically need a credit score that’s considered good or better.
However, if you don’t qualify for that card, you may be able to get approved for the basic store card that’s targeted more for people with fair or limited credit, such as the Milestone Gold Mastercard, Deserve Classic Mastercard, and the Indigo Platinum.
To give you an idea of what those ranges mean, here’s how FICO describes each credit score range.
Keep in mind, however, that they don’t just check your credit score. Banks are also interested in knowing income and debt situations.
Specifically, they’ll calculate your debt-to-income ratio (DTI) — your monthly debt payments divided by your monthly gross income. If it’s very low, that can help offset a lower credit score.
On the flip side, a very high DTI can make it harder to get approved, even with a good credit score. As a result, it’s important that you pay down your debt as much as possible or increase your income if you’re worried about not getting approved.
Related questions to the Best Buy credit cards
As we did our research, we came across some other questions that you may have about the Best Buy credit cards.
Here’s a quick Q&A to answer some of them:
Can you use the Best Buy credit card online?
You can use the basic store credit card on BestBuy.com, but that’s it. The Visa-branded card, however, can be used anywhere Visa is accepted, including online retailers.
What bank does Best Buy use for their credit cards?
Citi is the issuer for both Best Buy credit cards.
What are the Best Buy credit card approval requirements?
Credit card issuers typically don’t share their full criteria for approval. But from our research, we’ve seen that the Visa-branded card typically requires at least good credit, and the basic store card is targeted to people with limited or fair credit.
How do I check my Best Buy credit card approval status?
If you don’t get an immediate approval response, you can check the status by calling 888-574-1301 or by going to their check application status page here/.
Can I get a Best Buy credit card with bad credit?
It’s possible, especially if your overall credit profile fits the issuer’s criteria. But there are no guarantees.
Does a Best Buy card build credit?
It is possible to build your credit with a Best Buy card since it is a credit card.
How do you make a payment for Best Buy credit card?
There are four ways to pay for your statement which are online, in-store, by mail and by phone.
You will have to log in to your account through their account management portal here to pay online. You can make a payment by calling their customer service line 888-574-1301. And also, to make a payment by mail, you can send your payment to the following address:
My Best Buy® Credit Card Payments
P.O. Box 9001007
Louisville, KY 40290-1007
How do I reach the Best Buy credit card customer service?
If you’ve already received your card, call the number on the back of the card. Alternatively, you can call 888-574-1301.
What are some other credit cards that are easier to get approved for?
Store credit cards and secured credit cards are generally easier to get approved for than traditional rewards credit cards. Some card issuers market unsecured credit cards for bad credit, but they often charge outrageous fees. Always read the fine print before you apply.
Is a Best Buy credit card right for you?
Now that you know how you can get approved for a Best Buy credit card, it’s important to decide whether or not it’s right for you. There are plenty of rewards credit cards out there for people with good credit; there are also other alternatives if your credit score is limited or fair.
So, before you apply for the card, we recommend comparing the cards with other options, including top store credit cards, credit cards for bad credit, and rewards credit cards if you have good credit.
As you check out other credit cards, you’ll have a better chance of finding the one that best fits your spending habits and credit situation. And in the end, that very well may still be one of the Best Buy credit cards.
The important thing is that you take the time to do your due diligence so that you can make sure you have the right card in your wallet.