Best Buy Card vs. Amazon Card: Which Should You Choose?

Choosing the right store credit card can feel like a high-stakes decision, especially when it involves two retail giants like Best Buy and Amazon. These cards promise exclusive rewards, special financing, and a streamlined shopping experience, but the best choice isn’t always obvious. Your decision can significantly impact your wallet, depending on your shopping habits, financial discipline, and long-term goals. Do you live for the latest tech releases, or are you a dedicated online shopper who values variety and speed?

Making an informed choice requires looking beyond the flashy sign-up bonuses. It means digging into the details of reward structures, understanding the fine print on interest rates, and weighing the real-world benefits against potential pitfalls. This comprehensive guide will break down the comparison between the Best Buy Credit Card and the Amazon Store Card, helping you navigate the complexities of each offering. We’ll explore everything from rewards and fees to eligibility and user experiences, so you can confidently select the card that aligns perfectly with your lifestyle.

Overview of Both Cards

Before diving into a side-by-side comparison, it’s important to understand what each card is and who backs it. Store credit cards are often issued by major banks, and these two are no exception.

The Best Buy Credit Card

The Best Buy credit card program is managed by Citibank. It’s designed for loyal Best Buy customers, offering a way to earn rewards or access special financing on tech purchases. Best Buy actually offers two main versions:

1. My Best Buy® Credit Card: This is a “closed-loop” or store-only card, meaning you can only use it for purchases at Best Buy and BestBuy.com.
2. My Best Buy® Visa® Card: This is an “open-loop” card. When you apply, you are often first considered for this Visa version, which can be used anywhere Visa is accepted. It earns rewards both inside and outside of Best Buy.

For the purpose of this comparison, we will focus primarily on the rewards and financing offered at Best Buy, which are core to both card versions.

The Amazon Store Card

The Amazon Store Card is issued by Synchrony Bank. This is a closed-loop card designed exclusively for use on Amazon.com and with select merchants that use Amazon Pay. It is targeted at frequent Amazon shoppers, offering a choice between promotional financing or rewards on purchases.

Similar to Best Buy, Amazon also has an open-loop Visa card (the Prime Visa, issued by Chase), but the Amazon Store Card is its primary direct financing and rewards tool. We will focus on the Synchrony-issued store card, as it is the most direct competitor to Best Buy’s store-specific offerings.

Benefits and Rewards: A Head-to-Head Battle

This is where the real competition begins. Both cards offer compelling incentives, but they cater to different priorities: long-term rewards vs. immediate financing.

Best Buy’s Rewards and Financing

The My Best Buy Credit Card gives cardholders a choice on every qualifying purchase: earn rewards or take advantage of flexible financing.

Rewards Program:

• 5% Back in Rewards: Cardholders get 5% back on nearly all Best Buy purchases. This is earned as 2.5 points per dollar spent. For every 250 points, you receive a $5 reward certificate.
• Elite Plus Status: Spending $3,500 in a calendar year on the card upgrades you to Elite Plus status, which bumps your rewards to 6% back (3 points per dollar).
• My Best Buy Visa® Card Bonus Categories: The Visa version also earns rewards outside of Best Buy: 3% back on gas, 2% back on dining and groceries, and 1% on all other purchases. These rewards are also issued as Best Buy reward certificates.

The reward system is straightforward for frequent Best Buy shoppers. If you spend $500, you get $25 back in rewards to use on a future purchase. It encourages a cycle of shopping and saving within the Best Buy ecosystem.

Promotional Financing:
This is arguably the card’s main attraction for big-ticket items. Best Buy offers deferred interest financing for various periods, such as:

• No interest if paid in full within 12, 18, or 24 months on qualifying purchases.
• The length of the financing offer often depends on the purchase total. For example, a $999 TV might qualify for 18 months of financing.

Crucially, you cannot earn rewards and use promotional financing on the same purchase. You must choose one or the other at checkout.

Amazon’s Rewards and Financing

The Amazon Store Card also operates on a choice-based system, but it’s structured differently, especially for Prime members.

Rewards Program (for Prime Members):

• 5% Back: Amazon Prime members with the Amazon Store Card (often called the Prime Store Card) can earn 5% back on their Amazon.com purchases.
• Statement Credits or Points: Unlike Best Buy’s certificate system, Amazon’s rewards can be redeemed directly as a statement credit or used to pay for future purchases at checkout. This offers more flexibility.
• Rotating Promotions: Occasionally, Amazon offers 10% or even 15% back on select categories of items for Prime Store Card holders.

If you are not a Prime member, the Amazon Store Card does not offer a standard rewards program. Its primary benefit for non-Prime users is access to financing.

Promotional Financing:
Amazon offers two types of financing:

1. Equal Monthly Payments: Pay for a purchase over 6, 12, or 24 months with 0% APR. The total cost is divided into equal payments, making it easy to budget.
2. Special Financing (Deferred Interest): Offers “no interest if paid in full” over 6, 12, or 24 months. This is the same type of deferred interest plan offered by Best Buy.

Like Best Buy, you must choose between receiving 5% back and using a financing offer. You cannot have both on the same purchase.

Comparison Summary

Interest Rates and Fees: The Fine Print Matters

Store cards are notorious for high interest rates, and these two are no exception. This is where a great deal can turn into a financial headache if you’re not careful.

Interest Rates (APR)

• Best Buy Credit Card: The standard purchase APR is typically very high, often hovering around 28-30%. This rate applies to any balance carried outside of a promotional financing period.
• Amazon Store Card: The standard variable purchase APR is also high, usually in the 29-30% range.

These rates are significantly higher than the average for a general-purpose credit card. It is never a good idea to carry a regular balance on either of these cards.

The Deferred Interest Trap

Both cards heavily promote “no interest if paid in full” offers. It’s vital to understand what this means.

• How it Works: Interest is calculated on your purchase from day one at the standard high APR. It just sits in the background.
• If You Succeed: If you pay off the entire purchase balance before the promotional period ends, all that accrued interest is waived. You pay zero interest.
• If You Fail: If there is even $1 remaining on that promotional balance when the period expires, the bank will charge you all the interest that has been accruing from the original purchase date.

Example: You buy a $2,000 laptop with a 24-month deferred interest plan. You make payments but have a $50 balance left at the end of 24 months. You will suddenly be hit with approximately $1,200 in interest charges (24 months of interest at ~30% APR on the original $2,000).

Amazon’s “Equal Monthly Payments” offer is a much safer alternative. With this plan, you pay 0% APR, and if you miss a payment, you only face a late fee, not retroactive interest.

Late Fees and Other Charges

Both cards charge late payment fees, which are standard across the industry. A first-time late payment might cost around $30, while subsequent late payments within a few months can rise to around $41. Neither card has an annual fee.

Eligibility Criteria: Can You Get Approved?

Approval for store cards is generally easier than for premium travel rewards cards, but you’ll still need a decent credit history.

• Best Buy Credit Card: This card, issued by Citibank, is known to be slightly more selective. You’ll likely need a fair to good credit score (640+) for a solid chance of approval. Citi often pulls from Experian or Equifax. When you apply, they will first see if you qualify for the My Best Buy® Visa® Card. If not, they will then consider you for the store-only card.
• Amazon Store Card: Synchrony Bank is known for being a bit more lenient with approvals. Applicants with scores in the low-to-mid 600s may be approved, sometimes with a lower credit limit. Amazon also has a “pre-qualify” option that lets you check your eligibility without a hard inquiry on your credit report. Furthermore, Amazon offers a Secured Card option for those who don’t qualify for the standard store card, making it a good tool for credit-builders.

User Reviews and Practical Examples

Hearing from actual users provides context that product descriptions can’t.

Best Buy User Feedback:

• Pros: Users love the financing options for large, planned purchases like appliances or home theater setups. Being able to walk into a store, buy a new TV, and spread the cost over two years with no interest is a major draw. The 5% rewards are also praised by those who frequently buy smaller items like video games and accessories.
• Cons: The biggest complaint by far relates to the deferred interest trap. Many unsuspecting consumers have been burned by massive interest charges. Another common frustration is that reward certificates expire and can be forgotten.

Amazon Store Card User Feedback:

• Pros: Prime members rave about the simplicity of the 5% back, which is easy to redeem at checkout. The “Equal Monthly Payments” option is seen as a much safer and more transparent financing tool. The card’s integration with the Amazon ecosystem is seamless.
• Cons: The high standard APR is a common negative point. Some users are disappointed that the 5% reward is exclusive to Prime members. Non-Prime users get very little value outside of financing.

Practical Scenarios

Scenario 1: The Tech Enthusiast (Alex)
Alex loves upgrading his home theater and computer setup every few years. He wants to buy a new $3,000 OLED TV.

• With Best Buy: He can use the 24-month deferred interest financing. He sets a calendar reminder and divides $3,000 by 24, paying $125 each month to ensure it’s paid off on time. He forgoes the $150 in rewards but gets two years to pay without interest. This is a perfect fit.
• With Amazon: He could also get 24-month financing, but his TV might be cheaper on Amazon. He weighs the price difference against the risk of deferred interest (if he chooses that option) or the certainty of Equal Monthly Payments.

Scenario 2: The Everyday Shopper (Maria)
Maria is an Amazon Prime member who buys everything from household goods and clothing to electronics on Amazon.

• With Amazon: The Prime Store Card is a powerhouse. She gets 5% back on all her frequent purchases, which adds up to hundreds of dollars in savings per year. When she needs to buy a new vacuum cleaner for $400, she chooses the 5% back instead of financing.
• With Best Buy: The Best Buy card would be of little use to her, as she rarely shops there. Even the Visa version would only give her 2% on groceries, which is less than what many general-purpose cashback cards offer.

Who Should Choose Which Card?

Your choice boils down to your primary shopping destination and financial strategy.

Choose the Best Buy Credit Card if:

• You are a loyal Best Buy shopper who makes frequent large and small tech purchases.
• You value the ability to get long-term, no-interest financing on big-ticket items and are disciplined enough to pay it off before the promotion ends.
• You appreciate the in-person shopping experience and want expert advice before buying.
• You see the rewards as a bonus for your loyalty to the brand.

Choose the Amazon Store Card if:

• You are an Amazon Prime member who shops on Amazon for a wide variety of goods, not just electronics.
• You prefer a simple, flexible rewards system (cash back/statement credit) over store certificates.
• You want access to safer “Equal Monthly Payments” financing alongside deferred interest options.
• You have a fair credit score and might appreciate Synchrony’s more lenient approval odds or the secured card option to build credit.

Conclusion

Neither the Best Buy Credit Card nor the Amazon Store Card is inherently “better”—they are specialized tools for different types of consumers.

The Best Buy Credit Card excels as a financing vehicle for large, considered electronics purchases. Its strength lies in deferred interest plans that let you take home expensive tech today and pay for it over time, provided you are meticulous about paying it off. The rewards are a nice perk for dedicated tech shoppers.

The Amazon Store Card, particularly for Prime members, is a rewards-generating machine for the modern online shopper. Its 5% cash back on a vast marketplace of goods, combined with more flexible reward redemption and safer financing options, makes it a daily-use powerhouse.

Before you apply, look at your last year of spending. If your statements are filled with Best Buy purchases, their card is a logical fit. If your credit card history reads like an Amazon order list, the choice is clear. Ultimately, the best card is the one that rewards you for the shopping you already do, without luring you into high-interest debt.

Frequently Asked Questions (FAQs)

Q: Can I use the Best Buy Credit Card outside of Best Buy?
A: Only if you are approved for the My Best Buy® Visa® Card. The standard My Best Buy® Credit Card is a store-only card.

Q: Is the Amazon Store Card the same as the Amazon Prime Visa?
A: No. The Amazon Store Card is issued by Synchrony Bank and can only be used on Amazon. The Prime Visa is issued by Chase Bank and can be used anywhere Visa is accepted, earning rewards at different rates in various categories.

Q: Do I need a good credit score to get either card?
A: Generally, you’ll need a fair to good credit score (640+). The Best Buy card (Citibank) may be slightly harder to get than the Amazon Store Card (Synchrony Bank), which also offers a secured version for those building credit.

Q: How do I avoid the deferred interest trap?
A: Always divide the total purchase amount by the number of months in the promotional period and pay at least that amount every month. Set up automatic payments and a calendar reminder for the expiration date. Try to pay it off a month early to be safe.

Q: If I’m not an Amazon Prime member, is the Amazon Store Card worth it?
A: For non-Prime members, the card’s only benefit is access to promotional financing. It does not earn rewards. If you only need financing, it can be useful, but it lacks the everyday value it provides to Prime members.

Q: Can I get both rewards and financing on a single purchase?
A: No. Both cards require you to choose between earning rewards (e.g., 5% back) or using a promotional financing offer on any given qualifying purchase. You cannot do both.