Credit cards

Financing Your Purchase at Best Buy

WHAT YOU NEED TO KNOW
  • You must make a monthly payment.
  • You must pay the entire promotional purchase balance by the end of the financing term or you will have to pay the interest charged on each month's balance at the Annual Percentage Rate (APR) for regular purchases.
  • If you have any questions or if you have multiple purchases and would like to direct how your payment is applied across those multiple purchases, call Citibank at 1-888-574-1301.

HOW DOES FLEXIBLE FINANCING WORK AT BEST BUY?

With the My Best Buy® Credit Cards, you can take advantage of various financing offers. With these offers, interest is deferred for a set period of time.

By paying off the full purchase balance before the promotional financing term has ended, you will not have to pay any interest on that purchase.

However, if the purchase balance is not paid in full by the end of the promotional financing term, then the interest charged on each month's balance will be owed at the APR for regular purchases.

TAKE A LOOK AT THESE EXAMPLES

Let's say you purchase a laptop for $300 through a 6-month flexible financing plan with an APR of 26%. (Your APR on your credit card account may be different.)

SCENARIO 1 — BALANCE PAID IN FULL WITHIN 6 MONTHS*

You will NOT be charged interest

MONTH 1 MONTH 2 MONTH 3 MONTH 4 MONTH 5 MONTH 6 Total Paid $300
Payment 50 50 50 50 50 50 0
INTEREST
Interest $6.50 $5.42 $4.33 $3.25 $2.17 $1.08
Interest Accrues from Date of Purchase Principal Balance Paid $300
SCENARIO 2 — BALANCE NOT PAID IN FULL WITHIN 6 MONTHS*

You WILL be charged the Regular Purchase interest rate from the date of purchase.

MONTH 1 MONTH 2 MONTH 3 MONTH 4 MONTH 5 MONTH 6 Total Paid $193
Payment 27 27 27 27 27 27 31
INTEREST DUE TO DATE
Interest $6.50 $5.92 $5.33 $4.75 $4.16 $3.58
Interest Accrues from Date of Purchase Principal Balance Paid $162

For an APR on regular purchases of 26% and monthly payments of $27 with no other balances on your credit card, you would pay interest of approximately $31 at the end of the promotional financing term. Your APR on your credit card account may be different.


WHERE CAN I GET INFO ABOUT MY CREDIT CARD ACCOUNT?

Get started by taking a look at your My Best Buy Credit Card statement. Inside you can review all the details on your flexible financing plan, including when it needs to be paid in full to avoid paying any interest.

View Citibank account online ›


HOW DO I AVOID PAYING INTEREST?

You must pay off the entire promotional financing balance by the end of the promotional period or you'll have to pay all the interest that would have been charged if there wasn't a promotional financing offer.

You may have to pay more than your minimum due on your monthly credit card statement to avoid paying interest. If you have only one promotional balance, an easy way to do this is to divide the promotional balance by the promotional period and pay that amount each month.

Learn more ›

If you have any questions or if you have multiple purchases and would like to direct how your payment is applied across those multiple purchases, call Citibank at 1-888-574-1301.

Payments above your minimum payment amount must (as required by law) be applied to the highest APR balances first. If you have balances on your account besides the promotional financing, your payment will be applied to the regular balance first, unless you call Citibank. During the last 2–3 billing cycles of a promotion, payments above your minimum payment are applied to the expiring promotional balance.

REMINDER: You must pay at least the minimum payment amount each month.

USE THESE TOOLS TO UNDERSTAND YOUR FINANCING
phone

Call Citibank at 1-888-574-1301 to apply any amount over your minimum payment to your promotional financing balance.

KEEP IN MIND

You must pay off the full promotional financing balance by the end of the promotional period to avoid paying interest on that balance. You may have to pay more than your minimum due on your monthly credit card statement to do so.


FREQUENTLY ASKED QUESTIONS
How does promotional financing work?

Best Buy may have a number of promotional financing offers, which may also be called "Special Financing" or "Flexible Financing." Examples include 6-month financing on purchases of $199 and up, or 12-month financing on purchases of $399 and up. These offers may change from time to time, but the way they work stays the same.

Interest accrues but is deferred during the promotional period. If you pay off the full promotional financing balance before the promotional period has ended, you will not have to pay any interest that accrued on the promotional financing balance.

If the promotional financing balance is not paid in full by the end of the promotional period (for example, 6 or 12 months), then the interest charged on each month's balance will be owed at the Annual Percentage Rate (APR) for regular purchases. This is the same APR as would have been charged if there were no promotional financing offers.

NOTE: Your specific APR can be found on your Account Terms or monthly credit card statement. Your monthly credit card statement will also show detailed information about your promotional financing plan, including the remaining balance and when the promotional financing period ends. Additionally, you can find your APRs on the Account Terms you received when you opened your credit card account, or online.

How do I avoid interest charges on my promotional financing promotion?

In order to avoid paying interest, pay off the full promotional financing balance before the promotional period has ended.

How do I avoid interest charges on my purchases that do not qualify for promotional financing?

You can avoid interest charges on these purchases by paying the entire balance, excluding any promotional financing balance you may have, during the grace period. The grace period is at least 25 days after the close of each billing cycle. To get a grace period on purchases, you must pay the New Balance on your monthly credit card statement by the payment due date every billing cycle.

I don't want to pay any interest. If I pay the minimum due, will that pay off my account with no interest charges?

You may have to pay more than your minimum due on your monthly credit card statement to avoid paying interest. If you have only one promotional balance, an easy way to do this is to divide the promotional balance by the promotional period and pay that amount each month.

Learn more ›

If you have any questions or if you have multiple purchases and would like to direct how your payment is applied across those multiple purchases, call Citibank at 1-888-574-1301.

Payments above your minimum payment amount must (as required by law) be applied to the highest APR balances first. If you have balances on your account besides the promotional financing, your payment will be applied to the regular balance with a higher APR first, unless you call Citibank. During the last 2–3 billing cycles of a promotion, payments above your minimum payment are applied to the expiring promotional balance.

REMINDER: In all events, you must pay at least the minimum payment amount each month.

Where can I view my promotional financing balance?

You can find your promotional financing balance either on your monthly credit card statement or Citibank account online.

If you're getting your monthly credit card statement electronically, don't forget to review it online so you know your promotional financing balance and when the promotional period ends.

Where can I call with questions about my promotional financing plan?

Call Citibank Customer Service at 1-888-574-1301.

Where can I view my Annual Percentage Rates (APRs)?

You can find your APRs on the Account Terms you received when you opened your credit card account, on your monthly statement, or Citibank account online.