This showed up in my inbox a few days ago:
10% back! Not too shabby. Keep in mind, though, that you won’t get 10% back on gift card purchases. If you recall, it was a 10% promotion that got that loophole shut down last year when too many people signed up for the Best Buy card and jumped on that deal.
I actually tested this a few months ago to see if anything had changed and yes, bonus points are still not being awarded on either Visas or retail gift cards. However: you do get base points, which work are 2% of your purchase. The fees on Visa cards are 3%, so that’s a money-loser, but if you have a Citi card with a 5% bonus on electronics, this would be a good way to max out your deal.
Best Buy also periodically runs other point multiplier promos, such as this one which is still going on:
5X points is the equivalent of 10% back since each Best Buy point is worth 2%. So you’d be getting 10% back on your stove, plus an additional 8% back if you use a Best Buy credit card. That’s not too bad if it’s a purchase you were going to make anyway. If you have the credit card and you’re into reselling, I’d keep an eye on Best Buy promos through the end of the month in case anything pops up.
In other retail news, Toys R Us is running an October promotion for their cardholders as well:
That’s a 3-4% bonus. The TRU card only pays 1% for purchases outside the store (vs. 8% for store purchases), so that makes this a 4-5% card for spending up to that $350 cap. If you have a Toys R Us near you and some toys to buy this year, then it’s a decent deal. Otherwise, you’re not missing out on much.