Can the Best Buy credit card be used anywhere?

The Best Buy credit card can only be used in Best Buy stores and when making purchases online through the Best Buy website. Outside of Best Buy, the card is not accepted, since it is not associated with any major financial card networks such as MasterCard, Visa, American Express or Discover. However, Best Buy offers the Best Buy MasterCard credit card that can be used anywhere MasterCard-branded cards are accepted.

The Best Buy credit card is issued by Citibank, and it is designed to benefit customers who can use this card exclusively at Best Buy stores and its website. The main advantage of the card is that it offers 5% back in rewards to its regular cardholders and 6% back to Elite Plus members. In 2017, Best Buy offers special six-month financing for purchases in excess of $199; 12-month financing for purchases in excess of $399; 18-month financing for major appliance purchases totaling $599 or up; and 24-month financing on home theater purchases totaling $799 and up. During the promotional period for the special financing offer, Best Buy credit cardholders do not have to pay interest if they make their fixed monthly payments on time and pay off their balances at the end of the promotion period.

Besides its promotional financing, the Best Buy credit card charges its customers an interest rate that is equal to the prime rate plus 21.99%. The card also has a late payment penalty of up to $38. Citibank charges a minimum interest of $2. If you use the card outside Best Buy, the rewards are 2% back for dining out and grocery purchases and 1% back for so-called everyday purchases.