/investopedia-social-share-default-ab113c8afd9a439dbc4c68b1926292f4.png "How the My Best Buy Credit Card Works: Benefits and Rewards 1")
Greatest Purchase (BBY) is a shopper electronics retail chain with greater than 1,000 areas and roughly 100,000 workers positioned all through america and Canada. Greatest Purchase offers a wide range of merchandise to industrial, authorities, and personal shoppers together with home equipment, computer systems, cell telephones, gaming techniques, sound techniques, {hardware}, software program, and leisure merchandise. Along with items, Greatest Purchase and its subsidiaries present providers similar to product design, session, set up and restore. Subsidiaries of Greatest Purchase embody Geek Squad, Magnolia Hello-Fi, Pacific Kitchen and Residence, Greatest Purchase Enterprise, Greatest Purchase Well being, CST, Geek Squad, GreatCall, and Full of life.
How the My Greatest Purchase Playing cards Work
The My Greatest Purchase Bank cards are playing cards that may be acquired on-line or in a Greatest Purchase retailer. Whereas the My Greatest Purchase Visa card can be utilized and earn rewards anyplace, the My Greatest Purchase card can solely be utilized in a Greatest Purchase retailer or at BestBuy.com. Like many retailer playing cards, the My Greatest Purchase card provides rewards and advantages like promotional financing for purchases made by Greatest Purchase. It provides the usual excessive annual proportion price (APR) of most retailer bank cards and requires honest or higher credit score to be issued.
Key Takeaways
- The My Greatest Purchase Card is a card issued by Citibank that can be utilized on-line or in-store at Greatest Purchase and its subsidiaries and will get 5%-6% rewards at Greatest Purchase.
- The My Greatest Purchase Visa Card is a card issued by Citibank that can be utilized anyplace and will get 5%-6% rewards on Greatest Purchase purchases, 3% on fuel purchases, 2% on grocery and eating purchases, and 1% on all the pieces else.
- You want honest credit score or higher to get accepted for a My Greatest Purchase card. The higher your credit score, the extra possible you’re to be supplied the My Greatest Purchase Visa bank card.
- As of November 2021, the annual proportion price for the My Greatest Purchase Card was 25.24%
Rewards and Advantages
The primary benefit of the My Greatest Purchase bank card is that it provides 5% again in rewards to its common cardholders and 6% again to Elite Plus members on qualifying purchases.
The My Greatest Purchase card additionally consists of deferred curiosity promotional provides, that means that you simply pay $0 in curiosity in case your steadiness is paid in full by the tip of the promotional interval. As of Nov. 19, 2021, the next provides are in place by Dec. 26, 2021.
- 12 months of no curiosity on purchases $299 & up
- 18 months of no curiosity on purchases $499 & up
The Phrases and Situations printed by the cardboard’s issuer Citibank record potential different promotional financing you might be supplied together with
- 24 months of no curiosity (no specified minimal quantity)
- 36 months of no curiosity (no specified minimal quantity)
- No curiosity if paid in full by a specified date. (no specified minimal quantity)
In case you are enthusiastic about making a big buy it could be attainable to get certainly one of these longer, unadvertised promotional deferred rates of interest by chatting with a Greatest Purchase worker or supervisor.
Vital
Rewards can solely be redeemed within the type of a rewards certificates, which may solely be used at Greatest Purchase or certainly one of its subsidiaries.
Alternate options to the My Greatest Purchase Credit score Card
In case you are contemplating getting a My Greatest Purchase card to finance a big buy at Greatest Purchase, there are different playing cards that supply 0% APR promotional rates of interest for longer phrases, in addition to 0% promotional rates of interest with a money again bonus as properly.
The U.S. Financial institution Visa Platinum provides a price of 0% curiosity for 20 billing cycles (2 months longer than Greatest Purchase’s longest marketed interval),
The Chase Freedom Limitless bank card additionally provides 0% APR for 15 months AND provides $200 in money again bonus when you spend $500 in purchases inside the first 3 months after account opening and 1.5% money again on all the pieces. You’ll be able to redeem your factors by straight money again or by the Chase Final Rewards program.
The Capital One SavorOne Money Rewards bank card provides 0% APR for 15 months AND a $200 money again bonus when you spend $500 in purchases inside the first 3 months after account opening. And also you earn 3% money again on eating, leisure, grocery shops and 1% again on all the pieces else.
| My Greatest Purchase Card Vs. Alternate options | |||||
|---|---|---|---|---|---|
| Card | My Greatest Purchase (financed) | My Greatest Purchase (not financed) | USB Platinum | Chase Freedom Limitless | Capital One SavorOne |
| Rewards | $0 | $150 (rewards certificates solely redeemable at Greatest Purchase) | $0 | $222.50 (money again, or Final Rewards) | $215 (money again) |
| APR | 0% APR for 18 months | 25.24% | 0% APR for 20 billing cycles | 0% APR for 15 months | 0% APR for 15 months |
Phrases and Situations of the Greatest Purchase Credit score Card
Like all bank card, the Greatest Purchase bank card options phrases and circumstances that needs to be reviewed completely. The phrases and circumstances embody the APR, late fee charges, penalties, and different helpful data. The next is up to date data for the Greatest Purchase bank card as of November 2021:
- APR: 26.99%
- Late Cost Charge: as much as $40 for shoppers who fail to make the minimal fee by the due date
- Grace Interval: At Least 25 days
- Minimal Curiosity Cost: $2
- Annual Charge: $0
Who Ought to Take into account the My Greatest Purchase Credit score Card?
People seeking to make a considerably massive buy at Greatest Purchase in a single day to both make the most of the one time 10% reward, or the promotional 0% rate of interest financing choices ought to take into account a My Greatest Purchase Bank card. Moreover, anybody who outlets at Greatest Purchase continuously sufficient that the upper rewards price of a My Greatest Purchase Card (5%-6%) versus a normal money again bank card of 1%-3% is definitely worth the trouble of rewards solely being issued within the type of rewards certificates. Like many retailer bank cards, Greatest Purchase points rewards this approach to maintain prospects coming again in and spending cash to allow them to use their certificates. People contemplating this bank card ought to fastidiously take into account whether or not they’ll spend greater than they imply to because of the rewards certificates system.
Greatest Purchase Credit score Card FAQs
What are the My Greatest Purchase Playing cards charges?
As of November 2021, the My Greatest Purchase playing cards carried annual proportion price curiosity expenses with variable charges between 23.24% and 27.99% and stuck charges from 9% to 24.34%. My Greatest Purchase Visa playing cards have been issued with variable charges of 10.74% to 27.99% and non-variable charges from 9.99% to twenty.24%.
What’s the Distinction Between the My Greatest Purchase card and the My Greatest Purchase Visa card?
The My Greatest Purchase Visa card can be utilized anyplace and earns rewards on purchases made anyplace. The My Greatest Purchase card can solely be used at Greatest Purchase and solely earns rewards on purchases made at Greatest Purchase.
The place Can Somebody Get the My Greatest Purchase Credit score Card?
You will get the My Greatest Purchase Bank card in-store at Greatest Purchase or on-line at BestBuy.com.
What Form of Credit score Is Required for the My Greatest Purchase Credit score Card?
Honest or higher credit score is required to get accepted for a My Greatest Purchase bank card. The higher your credit score, the better your odds of being accepted for the My Greatest Purchase Visa card.
The Backside Line
The My Greatest Purchase bank card and the My Greatest Purchase Visa card have the identical excessive rates of interest that the majority different retailer bank cards have. The rewards system is respectable at 5% again however can solely be redeemed as a rewards certificates at Greatest Purchase, which makes it a much less enticing card for the overall shopper than a normal money again rewards system. The My Greatest Purchase card is an efficient alternative In case you are seeking to finance a big buy, similar to redoing the home equipment in your kitchen, or if you’re somebody who outlets at Greatest Purchase continuously sufficient that the 5% again at Greatest Purchase is definitely worth the inconvenience of the rewards certificates system.