Best Buy Visa Adds Gift Card Redemption Option

jj10939 · ‎08-02-2024

I logged into my BB Visa account and noticed a new banner at the top of the page stating points may now be redeemed for gift cards at other merchants including Amazon, department stores, restaurants, etc. Great enhancement to the card.

I've really enjoyed having this card. For a store branded Visa card, I feel like it has a lot of value. I frequently receive balance transfer offers, albeit with a 5% transfer fee, bonus reward categories, and now being able to redeem for gift cards makes it even better!

MissLiz · ‎08-02-2024

Very cool!

“A woman’s best protection is a little money of her own.” – Clare Boothe Luce

ptatohed · ‎08-02-2024

Why is redeeming for GCs better than redeeming for CB? You would then lose out on any CB you might get otherwise using a CC with that GC purchase.

[Until I can make a pretty signature, here’s an updated draft]

Everyday 5% CB:
Chase prime Visa // citi CUSTOM CASH “A” // citi CUSTOM CASH “B” // citi SHOP YOUR WAY (5% gas (in points), lucrative spending offers) // mylowe’s Rewards // Target circle card // primis Perks debit Visa (50c CB per transaction (5% CB or more up to $10 spend))

5% CB rotating:
Chase “OG” freedom Visa // DISCOVER it Cash Back // nusenda CU Platinum Cash Rewards

Everyday 4% CB:
US Bank Smartly (v1.0)

Everyday 3% / 2.2% CB:
AOD FCU Visa Signature (3%, sockdrawered) // upgrade Cash Rewards Elite (2.2%, sockdrawered)

Welcome Offer / credits only:
Chase SAPPHIRE PREFFERED (grabbed my $1,000, sockdrawered, will cancel) // NFCU FLAGSHIP REWARDS (elevated Welcome Offer, annual prime credit, sockdrawered)

Hotel card:
Chase IHG ONE REWARDS PREMIER (elevated Welcome Offer, 1 free night/yr)

On my radar:
Langely FCU Signature Cash Back (5% CB monthly selectable cat) // Safe CU Cash Back+ (Quarterly rotating 5% CB cats plus bonus cats) // upgrade MyFive Cash Rewards (5% CB monthly selectable cat) // US Bank Kroger (and family) World Elite Master Card(s) (5% CB Mobile Wallet)

northway · ‎08-02-2024

@ptatohed wrote:
Why is redeeming for GCs better than redeeming for CB? You would then lose out on any CB you might get otherwise using a CC with that GC purchase.

Considering the card didn't offer cashback, only a 5% rewards credit that can be used to issue a Best Buy Rewards certificate, allowing redemptions for other options is pretty decent. Especially considering that the card has a rotating 5% category.

Personal Cards:

unsungivy · ‎08-02-2024

@northway wrote:
@ptatohed wrote:
Why is redeeming for GCs better than redeeming for CB? You would then lose out on any CB you might get otherwise using a CC with that GC purchase.
Considering the card didn't offer cashback, only a 5% rewards credit that can be used to issue a Best Buy Rewards certificate, allowing redemptions for other options is pretty decent. Especially considering that the card has a rotating 5% category.

Wait, what? The Best Buy Visa has a rotating category?

Robinhood Gold Card VS | $10k @ 29.49% (prime + 22.49%) | 8/20/2025

Gemini Card WMC | $21k @ 16.74% (prime + 9.74%) | 6/21/2022

Elan Financial Max Cash Preferred WMC | $25k @ 18.24% (prime + 11.24%) | 7/20/2021

Elan Financial Max Cash Preferred VS | $25k @ 18.24% (prime + 11.24%) | 7/20/2021

BofA Customized Cash Rewards VS (no FTF) | $28k @ 16.74% (prime + 9.74%) | 4/13/2025

BofA Customized Cash Rewards VS | $25k @ 14.74% (prime + 7.74%) | 4/13/2019

BofA Customized Cash Rewards WMC | $25k @ 14.74% (prime + 7.74%) | 4/13/2022

Citi ThankYou MC | $10.4k @ 32.74% (prime + 25.74%) | 7/20/2024

Chase Freedom Flex WMC | $25k @ 20.99% (prime + 13.99%) | 7/20/2024

Amazon Prime VS | $25k @ 17.99% (prime + 10.99%) | 1/20/2021

Chase Marriott Bonvoy Boundless VS | $17.1k @ 24.99% (prime + 17.99%) | 7/20/2025

AU -

The Ritz-Carlton Card VI (Authorized User) | $20k @ 20.24% (prime + 12.99%) | 9/11/2023

Sock -

AOD FCU VS | $5k @ 17.99%-!? (prime + 9.50%) | 6/15/2021

Affinity FCU Cash Rewards VS | $35k @ 16.25% (prime + 9.25%) | 6/17/2022

AmEx Blue Cash Everyday | $10k @ 17.74% (prime + 10.74%) | 7/20/2022

AmEx EveryDay | $20k @ 16.74% (prime + 9.74%) | 8/12/2003

Chopping Block -

Chase Ink Business Unlimited VS Business | $500 @ 16.99% (prime + 9.99%) | 6/21/2024

Macy’s AmEx | $25k @ 29.74% (prime + 22.74%) | 5/13/2011

Biz -

Chase Ink Business Preferred VS Business | $25k @ 16.99% (prime + 9.99%) | 6/21/2021

Chase Ink Business Cash VS Business | $3.5k @ 16.99% (prime + 9.99%) | 6/21/2025

AmEx Blue Business Plus | $30k @ 16.99% (prime + 9.99%) | 6/21/2024

AmEx Marriott Bonvoy Business | $25k @ 26.74% (prime + 19.74%) | 6/21/2025

Debit Cards -

PayPal Debit Card | 5% Cashback | 9/21/2024

Quontic Cash Rewards Checking Debit Card | 1% Cashback | 12/1/2024

Affinity Cash Back Debit Card | 1% Cashback | 9/21/2024

Affinity High-Yield Checking Debit Card | 5.5% APY on $15k | 9/21/2024

On my

AmEx Marriott Bonvoy Brilliant | Planned 7/20/2026

Dadof31978 · ‎08-02-2024

doing that for anything but a Best Buy gift card reduces the value by 50%...so not a smart way to use points.

Anonymous · ‎08-03-2024

@Dadof31978 wrote:
doing that for anything but a Best Buy gift card reduces the value by 50%...so not a smart way to use points.

Oh, that makes it less exciting!

Anonymous · ‎08-03-2024

@Anonymous wrote:
@Dadof31978 wrote:
doing that for anything but a Best Buy gift card reduces the value by 50%...so not a smart way to use points.
Oh, that makes it less exciting!

After I had read that last night I was wondering how I could make all my rewards value worth 50% more.

But in all fairness we understand he meant 5% less.

(Or did I miss something and points redemption for "other merchants" is devalued?)

Also, I do see the "gift cards at other merchants" option they added to be nice addition.
Situationally the points may be worth more (to you) if nothing is needed from Bestbuy.