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My Best Buy Visa Card (Overview) - YouTube
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hey there i'm jeff with creditcards.com
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today we're covering the my best buy
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visa card now i personally don't have
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this card but our producer dylan behind
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the camera say hi dylan how's it going
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he has this card he's had it for several
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years now so
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he helped me with this review and we're
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going to cover the main things you need
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to know about the card we do however
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have a full review that's on our website
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creditcards.com so uh you may even be
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watching this video within our full
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review if that's the case you're in the
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right place but if you're watching on
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youtube
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i can link that full review in the video
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description below so make sure to check
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out that full review let's start off
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with the rewards for the card and some
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of the other interesting qualities now
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for starters the card earns five percent
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back and rewards on qualifying best buy
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purchases this might go without saying
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but that would include you know
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purchases in store
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online via bestbuy.com and through the
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best buy mobile app and actually if
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you're an elite plus member you would
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earn an additional one percent back in
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rewards for a total of six percent back
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and rewards now you can become an elite
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plus member by spending a certain amount
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each calendar year and you can learn
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more about that in our full review but
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even if you aren't an elite plus member
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five percent back in rewards is still
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pretty darn good and on top of that you
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would earn three percent background
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rewards on gas purchases two percent
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back in rewards on grocery store
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purchases two percent back in rewards on
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dining purchases including bars and
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restaurants and then one percent back in
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rewards on all other purchases now i do
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like the fact that it earns decent
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rewards outside of best buy
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and keep in mind also that it's a visa
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so it should be accepted almost
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everywhere that credit cards are what's
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also nice is that the card doesn't have
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an annual fee it has a zero dollar
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annual fee so it's not costing you
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anything to keep it in your wallet year
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to year
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uh even if you're only using it to take
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advantage of special financing offers in
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fact that's actually what dylan does he
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doesn't really spend a whole lot on the
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card
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aside from bigger items to take
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advantage of any special financing
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offers that they do have and another
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thing to be aware of although i don't
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really think this changes how you look
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at the card
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is that it's a rewards credit card not a
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cash back credit card so presumably when
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you're spending on it you're earning
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points as opposed to cash back in fact
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when they say you earn a five percent
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back in rewards on best buy purchases
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effectively that is what's happening
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although technically speaking you're
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actually earning two and a half points
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per dollar spent in this category it's
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just that best buy assigns a value of
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two cents per point so let's say you
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spend 500 on bestbuy.com using this card
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you would earn 1
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250 points which would have a
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certificate value of twenty five dollars
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or let's say you spend five hundred
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dollars elsewhere maybe at an auto parts
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store just as an example you would earn
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250 points because it's the tier that
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earns one percent back in rewards which
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have a certificate value
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of five dollars also just so you know
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you redeem your points as a discount on
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future best buy purchases which means
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effectively speaking your points are
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stuck within best buy which i don't
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think is surprising
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and by the way everything i mentioned in
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this video is accurate as of when we're
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publishing this video
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if you want to make sure that something
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hasn't changed make sure to check out
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our full review that stays up to date
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whereas this video is harder to come
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back and update but as of now
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you know everything is accurate when
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we're publishing this video now the one
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thing that i think is a major impediment
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to people getting this card at least
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when you're talking about the rewards
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not necessarily the financing is how
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your rewards are issued and how long
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they take to expire now i won't go into
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the details here we have that in our
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full review but you know suffice it to
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say that best buy has a system to
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basically make sure you are frequently
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shopping with them honestly i don't
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really like this part about the card and
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i tend to think if you're looking at
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this card as a rewards credit card you
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may be better off just looking for a
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general cash back credit card we've got
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guides about this on our website if
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you're watching on youtube i can link
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our guide to the best cash back credit
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cards on our website
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you know i think it's always worth
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looking into other credit cards but i
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would say in this case in particular you
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want to weigh how you're going to use
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the card what you're looking at it as if
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you're looking at it as a you know
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financing vehicle okay maybe it makes
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sense if you're looking at further
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rewards okay
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worth looking into but you should also
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uh consider some other general you know
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not store specific cash back credit
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cards and again we have all sorts of
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guides on our website so that's about it
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for the video you know hopefully you
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found it helpful
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uh definitely there's a lot more in our
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full review have a great day
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[Music]
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you
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