Q:

What are the terms of Best Buy credit card payments?

A:

Quick Answer

A Best Buy credit card holder may make payments at any time online, in person at a Best Buy store, by mail or by phone, as stated on BestBuy.com. In-store payments may be by cash or check. As of 2015, Best Buy has an automated system to handle phone payments.

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Full Answer

There is no charge to use Best Buy's automated phone system. A consumer may also pay by phone using a valid check, but the check must be drawn on a bank in the United States. Best Buy also offers interest-free repayment of purchases of $399 or more, but these purchases must be paid in full within 12 months. If a consumer does not pay in full within the 12 months from the purchase date, BestBuy.com states that it charges interest retroactively from the purchase date.

As of July 2015, the annual percent rate, or APR, was between 23.24 and 27.99 percent if variable and between 9.99 and 24.75 percent if not variable, and APR is based on the consumer's credit score. The penalty APR is not variable up to 29.99 percent, and the minimum interest charge is $2. My Best Buy MasterCard and Visa APRs are slightly different. There may also be an annual fee of between $0 and $59 based on the cardholder's credit rating.

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