Rewards or financing, not both
Best Buy makes you choose at checkout. Standard Credit earns the 5% in certificates. A 12-, 18- or 24-month financing plan earns nothing on the card.
On a $1,500 laptop, Standard Credit returns $75 in certificates, or $90 at 6% with a membership. Twelve months of 0% financing lets you keep the money in savings while you pay it down. At 4% interest, with the balance shrinking from $1,500 to zero over the year, that's about $30. The certificates win unless you need the year to pay. If you do take the financing, read whether the plan charges deferred interest when the balance isn't paid in time.
Why general cards come up short
Best Buy typically codes as an electronics store (MCC 5732). No mainstream card has a standing electronics bonus, so most cards pay their base rate there. That's why the table above tops out around 3% for flat-rate cards while the store cards pay 5%.
U.S. Bank Shopper Cash Rewards is the exception to check: it pays 6% on the first $1,500 a quarter at two retailers you choose from its list, which has included Best Buy. The list can change, so confirm Best Buy is on it before you enroll for the quarter.
When a general card is the better pick anyway
- You rarely shop at Best Buy. Certificates only pay off if you come back. A 2% cash back card's $30 on a $1,500 purchase is money you can spend anywhere.
- The purchase needs protection. Some general cards add a year of extended warranty to the manufacturer's, or pay for theft and damage soon after purchase. On a TV or laptop that can be worth more than the 3-point gap. Check your card's benefits guide.
- You'd pay interest. Rewards don't survive a carried balance at a store card's APR.