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Updated at 2018/07/11

The Best Buy credit card is issued by Citibank. The card is designed to encourage spending for products offered by Best Buy in stores and online. It offers 5% back in rewards for regular Best Buy members and 6% back in rewards for Elite Plus members or 12-month financing on purchases of $399 and up. The card can be used only to pay for goods and services offered by Best Buy.

Best Buy Credit Card

In addition to a reward bonus, the Best Buy credit card offers special financing terms on purchases over a certain dollar amount. At the time of purchase using a Best Buy credit card, a cardholder can choose either a reward option or a special financing option, which allows him to pay off his balance in fixed monthly installments over a promotional time period. During the promotional period, no interest is charged as long as the cardholder makes timely payments and remains in good standing. Additionally, in 2017, Best Buy credit card offers its holders 10% back in rewards on their first purchases.

Best Buy Credit Card Fees

The Best Buy credit card comes with no annual fees, but it charges penalty fees of up to $37 for late payments and returned payments. Citibank charges interest on overdue balances. The interest rate on a Best Buy credit card is equal to the current prime rate published by the Wall Street Journal plus 21.99%. Given a prime rate of 4.25% in 2017, the annual percentage rate for a Best Buy credit card stands at 26.24%. Citibank has a minimum interest charge of $2.

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