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Guide to Best Buy Credit Card in Canada

Best Buy Credit Card is a good way to procure goods while allowing you to pay for your purchase over time using their flexible financing options. Citibank is the issuing bank for Best Buy Credit Card, it is not a general card that can be utilized in any store like Amazon or Walmart. Best Buy is free, no activation fee required, all transactions are carried out via Citibank and Best Buy for My Best Buy cards. Credit cards are a good way to build and improve your credit. It might be difficult getting one from a conventional bank, particularly if their lending limitations are strict.

The Best Buy Credit Card can be used to procure goods online and in-store with Best Buy. It is created to ease payment for large in-store procurement with no interest over a fixed term for customers who utilize Best Buy Credit  Card exclusively at any Best Buy outlet or online. Note that, you are required to pay a fixed interest rate for online procurement. Best Buy offers its customers two different types of credit cards which allow people to shop either in Best Buy stores or any store that accepts Visa Cards.

Types of Best Buy Credit Card

There are currently two types of best buy credit cards. They are:

  • My Best Buy Credit Card

This is a store card than can be used at any Best Buy outlet and BestBuy.com. There are no annual fees attached to this card.

  • My Best Buy Visa

This is a Best Buy credit card that can be used in any store that accepts Visa. This account offers extra rewards for making purchases outside of Best Buy. There are two versions to this card, with the only major difference being the annual fee. After your application submission, you’ll be informed if your application was approved for a Gold or a platinum card. The Gold card is charged an annual fee of $59, while the platinum card has no annual fee attached to it. The card you get approved on depends on your eligibility, generally, when you apply to a Best Buy credit card, you’ll first be deemed for the My Best Buy Visa Platinum. If you don’t meet the requirement, you’ll then be deemed for the My Best Buy Credit Card Preferred, My Best Buy Credit Card and My Best Buy Visa God respectively.

Benefits of Best Buy Cards

As a carrier any of Best Buy credit card, you automatically join the My Best Buy frequent shopper program. In this program, rewards are earned for utilizing your card. These rewards are calculated as points in the program. The frequent shopper program has three major levels, which are:

  • Basic

The basic level is open to everyone to join.

  • Elite

You attain the elite level when you spend $1,509 in a year at Best Buy.

  • Elite Plus

This is the ultimate level; you attain this level by spending $3,500 in a year.

Eligibility 

Thinking of applying for a Best Buy credit card? Below are things you need to know to be qualified:

  • Be a Canadian citizen or a permanent resident 18 years and above.
  • If you are a resident of Quebec, you’ll be required to pay a $35 annual fee.

Documents needed to process your application include:

  • Your name
  • Residential status
  • Contact information
  • Email and phone number

Application Process

The application process involved in acquiring a Best Buy credit card is seamless and swift. Approvals are instantaneous available both in-store and online. To apply via the in-store channel, go in person to the customer service desk at any Best Buy store. To apply online log on to Best Buy’s official website and follow the pop-up instructions.

Activation Period

Best Buy credit card activation takes almost immediately to process, in less than 3-5 minutes your application is finalized if you use the in-store channel. If you made your application online, it takes 5-10 business days for your card to be delivered. Your card will be activated that same day and you can utilize it for purchase immediately. To finalize the in-store application, you will be required to provide the following:

  • A piece of photo ID
  • Two pieces of non-photo ID either from a driver’s license, health card, Canadian passport, permanent residence card, Canadian birth certificate, Record of landing and Canadian citizenship card, etc.
  • A valid credit card

Note that the driver’s license and health card are voluntary requirements in Quebec.

Best Buy credit card allows you to enjoy the following benefits:

  • No annual fees
  • Unlimited financial option and in-store procurement
  • Special financial discount all through the years
  • Online account access
  • Free extra cards
  • Optional card care protection

Best Buy Financing in Canada

With the Best Buy credit card in Canada, you are open to 6, 12, and 36 months financing options. To know where you fill in, contact any in-store outlets to get information on how to take advantage of these options. Note that, extended financing in Canada is restricted to in-store purchases, and Reserve and pickup orders.

How to Pay Your Best Buy Credit Bill

You can make payment via any Best Buy store or by cash. You can also make online payment or mail a check.

Financing Best Buy

My Best Buy Credit Card offers several financial benefits. With these offers, you can defer interest for a stipulated period. This can be realized by paying off the whole purchase balance before the promotional financing term comes to an end. With this, you don’t have to pay any interest on that procurement. You must make a monthly payment into your Best Buy account

Getting a Best Buy Card without Credit Card

If you do not have a bad credit card history or no credit card history, Best Buy will not approve yours for a card.

Withdrawing Money from a Best Buy Account

If you are a verified holder of the Best Buy Visa card, you can withdraw money from an ATM up to your established cash limit. Your cash limit can be found on your monthly statement. Though you will be charged a 5% fee for withdrawal and a 39.24% APR will commence immediately.

 Best Buy credit card limit

A good credit score increases your credit card limit. For Best Buy Store Card, the limit is around $2,500 – $7,500 while Best Buy Visa the limit is $2,000. Also, you can request your Best Buy credit limit to be increased. This can be done online or by contacting customer service. Note that you are restricted to one Best Buy credit limit increase with six months. You can apply again immediately you your first request were declined.

Accessing Your Best Buy Account

You can find your Best Buy credit ID on your membership card, on your account home page with you check online or on your best bit credit card. To check your credit card status via phone:

  • Contact best buy credit card center on 1-888-574-130
  • Input your social security number
  • Provide your application reference number
  • Enter your Social Security number.

Credit score 

You will need a good credit score to be approved for top Visa cards ranging around 700-749. The best buy store card is for applicants with at least 640 score, while the Best Buy visa requires at least 700 credit score.

Does Best Buy Improve Credit Score?

If you’re utilizing a Best Buy credit card and paying off the balance of the card when due, your credit score will improve significantly. Making timely payments of any outstanding credit balances helps build a strong credit history. Also, you won’t accrue any late fee or surged interest rate.

Lost/Stolen Best Buy Credit Card

In cases of theft or misplacement, you can contact CitiBank as soon as you realize to cancel your existing card. Once your card is canceled, it would be disabled, thus, nobody will be able to use it for any fraudulent transaction.

How Long Does Best Buy Reward Take

If you make purchases of eligible products, your Best Buy points will be posted to your best buy account in about 15 days from your procurement, delivery or shipment date. Note that purchases made outside Best Buy using My Best Buy Visa are posted monthly. Large purchases made with a Best Buy Credit Card may qualify for extra discounts. Usually, when these discounts are available, they’ll be called out on the product pages and in your cart. To receive these discounts, ensure to use your Best Buy credit card when checking out.

Notably, the standard rewards program has no difference on all cards. You have the chance to pick between:

  • Deferred-interest financing for large purchases
  • 5% back on all procurement made at Best Buy for Basic and Elite members, while 6% for Elite Plus members.

For online users, note that you cannot use your card the same month it expires. This is to ensure that funds are retrieved before the card expires. If there is an urgent need for you to place an order, it is advisable to use the in-store channel, choose a different payment method, or contact your card issuer to get a new card. Normally, a new card comes with an updated expiry date.

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