If you are a Best Buy customer and would love some rewards and financing plans, you can opt for My Best Buy Credit Card.
Just like with any other credit card, there are some details you should keep in mind: the APR (Annual Percentage Rate), which is as high as 27.24%, late payment fees ($39) to list the ones that are more dangerous, financially speaking, since they can easily get you in serious debt
While the conditions should always be consulted on their main website (here is the main offer), here are the most important details to have in mind:
- This offer is only valid for new accounts.
- You must be at least 18 years of age (21 years of age, if a resident of Puerto Rico). If you are married, you may apply for a separate account.
- Annual Percentage Rate (APR) for Purchases – 27.24%
- Due date – at least 25 days after the close of each billing cycle. Pay the ENTIRE balance by the due date each month to avoid paying interest.
- Minimum interest charge – at least $2
- Late payment – up to $39
Just like with every other credit card, using it responsibly can allow you to save money and clear your cash flow, otherwise you can get into serious debt.
How to use My Best Buy Credit Card responsibly
Shop only for what you need
I am still shocked to see how much junk Americans can buy every chance they get. It’s true that we are constantly bombarded with sales and offers, so it’s almost impossible to keep a straight head and not splurge on useless stuff. This is why I have absolutely no subscriptions to any ‘offers’ and my mantra is: there’s always gonna be another sale.
Pay your balance in full
If you plan on getting just another credit card to max out and get into even bigger debt, maybe this one is not the best option, as the APR is pretty steep at 27.24%. So use it only when you know the balance can be paid in full to avoid losing all this money.
Beware of the late fees
Just like any other credit card offer, the late fees can get you into deeper financial trouble, as you’ll pay up to $39 if you forgot to make the payment on time. In this case automated payments work the best, you never have to worry about missing due dates.
