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Best Buy Reward Zone MasterCard Review

Earn 4% back on Best Buy purchases

About.com Rating 4 Star Rating

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You get automatic rewards redemptions after you earn as little as $5.

Who the Best Buy Reward Zone MasterCard is for

  • Customers who want to earn rewards on their Best Buy purchases.

Credit Rating Required

  • Fair to excellent (600+)

About the Best Buy Reward Zone MasterCard

Pros

  • Generous rewards on Best Buy purchases (4% back).
  • Low redemption threshold ($5).

Cons

  • Somewhat confusing rewards program.
  • High interest rates.

Rewards

  • Two points per dollar on Best Buy purchases (4% rebate)
  • One point per dollar on dining and grocery purchases (2% rebate).
  • One point for every $2 on all other purchases (1% rebate).

APRs

  • 17.99% to 22.99% on purchases and balance transfers, depending on your credit history.
  • Penalty interest rate: 29.99%.

Fees

  • Annual fee: None.
  • Late payment fee: Up to $35.
  • Return payment fee: Up to $25.
  • Over the limit fee: Up to $25.
  • Balance transfer fee: 3% of balance.
  • Foreign purchase fee: 3%.

Best Buy Reward Zone MasterCard Review

Despite a confusing points menu, the rewards on this credit are pretty generous.

You earn two points for every dollar you spend at Best Buy or BestBuy.com, which works out to a 4% rebate. You get one point per dollar - or 2% back - on dining and grocery purchases, and one point for every $2 - or 1% - on all other purchases. In other words, you'd have to spend only $125 - the price of a small television - at Best Buy to earn $5. That's not bad.

The best feature of this card is the low redemption threshold. As soon as you earn 250 points, you get a $5 gift certificate good at Best Buy stores or its website. By comparison, you have to earn $10 in rewards with the Walmart Discover Card before you get a rewards certificate, which is one of the lowest redemption thresholds out there.

But you need to be quick to redeem your certificates: they expire 180 days from the date of issue.

If you shop a lot at Best Buy, you can qualify for Premier Silver status after you spend $2,500 in qualifying purchases in a single year. That qualifies you to earn an additional ¼ bonus point on each dollar you spend on the card.

On the negative side, the APRs on this card are rather steep, so make sure you pay your balance in full to avoid any finance charges.

The card is issued by HSBC Bank.

Recommendation

If you shop a lot at Best Buy, whether for high-end electronics or movies and DVDs, you'll be able to earn free stuff quickly with this card.

The only credit card with a lower rewards redemption threshold than this one is the Amazon.com Rewards Visa Card. Now you can redeem your rewards points almost as fast as you earn them without waiting until you reach a minimum threshold.

Apply for the Best Buy Reward Zone MasterCard.

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