Best Buy Credit Card

Basic Benefits:

Introductory APR: 0% for first 3 months Standard APR: 19.80%, 23.15%, 23.80%, or 27.15% Variable* *Determined by your credit history Get 4% cash back on all purchases from Best Buy Get 2% cash back on grocery and dinning purchases Get 1% back on purchases made everywhere else Annual Fee: None Issuer: HSBC Bank

Review
The Best Buy Reward Zone MasterCard is part of the Reward Zone program for Best Buy customers. The regular Reward Zone program is free to participate in and anyone can become a member. With this program you earn one point for each dollar spent at Best Buy when you use your reward zone membership card (which is just like the Kroger or CVS cards for example). For every 250 points you will automatically receive a $5 gift certificate that expires in 6 months. Be especially careful with your gift certificates, because I had a few and didn’t realize that they would expire so fast, and they will not be replaced. To stay an active member you must make one purchase a year.

With the credit card you earn points for every purchase you make. Four points per dollar spent at Best Buy, two points per dollar spent at restaurants and on groceries, and one point per dollar everywhere else.

The Best Buy credit card comes with an option for Account Shield(SM). This feature costs $0.90 a month per $100.00 of you average daily balance. The benefits of this plan are if you become unemployed, disabled, have a loss of life, or property damage you can cancel part of your debt. It doesn’t go into detail about how much of the debt you can cancel and you are still required to make minimum monthly payments. I would waive this service. To me it just sounds like another way for the bank to squeeze additional money out of your wallet.

Even the lowest interest rate is pretty high at 19.80%. If you really like shopping at Best Buy this card might be worth it as long as you pay off your account balance every month to avoid paying interest.