My Best Buy Visa Card

Rewards by category

Our take

This card fits the household that treats Best Buy as its default electronics store. Qualifying purchases there earn 5% back in rewards, at 2.5 points per dollar, and the everyday categories are respectable for a store-linked card: 3% on gas plus 2% on groceries, dining, and takeout everywhere Visa is accepted. It carries no annual fee, which keeps the decision simple.

The tradeoff sits in redemption. Rewards arrive as Best Buy certificates you can only spend at Best Buy, and SwipeCaddy's ranking values each point at 0.9 cents, so the 3x gas rate is worth about 2.7% and the 2x categories about 1.8% in cash-equivalent terms. There are two catches: choosing promotional financing on a purchase earns no rewards, and some applicants are approved for a $59-annual-fee version based on creditworthiness.

In a small wallet, treat it as the Best Buy specialist and the gas card, not the everything card. The base rate is 1x and every reward comes back as a store certificate, so pair it with a flat-rate card for general spending. The lack of foreign transaction fees is a modest bonus if you travel, though the rewards themselves still only spend at Best Buy.

The math

Run $200 a month of gas through this card and you're earning about $65 a year at our conservative valuations. There's no annual fee to earn back — everything above the 1x base rate is pure upside.

Store bonuses

• Best Buy5x

Key benefits

• 5% back in rewards at Best Buy (2.5 points per $1)
• Flexible financing options on Best Buy purchases
• No foreign transaction fees
• 3% back on gas, 2% on grocery, dining and takeout everywhere Visa is accepted

Common questions

Does My Best Buy Visa Card have an annual fee?

No — My Best Buy Visa Card has no annual fee.

What does My Best Buy Visa Card earn on gas?

3x on gas.

What rewards does My Best Buy Visa Card earn on everything else?

1x on all other purchases, in My Best Buy Rewards.

What's the catch with the 5% rate at Best Buy?

The 5% applies to qualifying Best Buy purchases only when you choose Standard Credit at checkout; if you pick promotional financing for a purchase, that purchase earns no rewards. Rewards also come as Best Buy certificates, not cash. Decide at the register whether the financing or the 5% is worth more for that specific purchase.

Can I redeem My Best Buy Visa Card rewards outside Best Buy?

No. Rewards are issued as Best Buy certificates that are redeemable only at Best Buy, which is why SwipeCaddy's ranking values each point at 0.9 cents rather than a full cent. If you would rather hold cash you can spend anywhere, run most purchases on a flat-rate cash-back card and save this one for Best Buy and gas.

Related reading

• How we value points and miles (and why our numbers are lower than everyone else's)SwipeCaddy ranks cards by reward rate × a conservative cash value per point: 1¢ for cash back and transferable points (Chase, Amex, Citi, Capital One, Bilt), 1.1–1.3¢ for airline miles, 0.4–1.4¢ for hotel points, and 0.8–0.9¢ for store currencies. Optimistic transfer values are recorded for context but never ranked, because most people never achieve them.