Hi, I was planning to buy a tablet, and I saw this thing called best buy financing, where it says that you can pay portions per month instead of paying in full. Is that what it means? Does anyone know exactly what is best buy financing? Thanks in advance!

Is there a way I can finance a purchase from Best Buy without signing up for and using their credit card?

As some of you may be aware, Best Buy offers a credit card that has promotional financing so you can buy more expensive electronics without having to worry about typical interest or minimum payments (if you pay it off in full by the financing timeline agreement). Well when I was on the fence about financing a product I asked a Best Buy employee if it would hurt my credit to finance by holding a balance, they said it would not impact it at all. I was skeptical and for good reason as I just found out today on credit karma that my credit score dropped significantly from financing with the credit card. Not blaming anyone but myself, I just want others to be aware, your promotional finance DOES in fact affect your credit score! I don’t want others who are watching their credit for something make the same mistake I did.

I plan on buying an iPhone, apple watch, maybe airpods (and some other tech things) over the next year. Best buy carries all the apple products and has financing available so I am leaning towards it. I can also buy other things at best buy. I will be moving to a new apartment. I'm not really looking for the cash back or rewards as I'd rather have the financing.

I do have 2 cards already that has rewards: capital one savor (3k limit) and chase freedom unlimited (1k limit). I don't plan on opening any cards after this for a while. So should I get the best buy credit (not store card) or are there better options available? Should I consider the apple card?

I notice prior to going to checkout, it says 24 month financing is available (have best buy cc).

However, there is no field to select financing instead of payment upfront. Am I missing something? I've tried the app, a few different browsers, but nothing.

Second question: If I finance a device, does it take the full amount off, or just an installment each month?

EDIT:

Interesting. I just noticed something.

I have a device I am trading in. When I put that in, the option does not show up (it does if I remove it). However, if I were to keep the trade in for the phone, but also add another valued item in cart, the option to finance shows up. It stays there when I remove said secondary item. Weird.

Question: Would it be best I just go in-store and do a trade in? If I trade-in store, can I still select to finance the remainder of the phone price?

I’m a student looking to get a MacBook and currently I only have the money to finance one, I already have 5 credit cards and a score of 740 (I don’t know if that is relevant) but there is a MacBook on sale at Best Buy and I was looking to finance it but the only way is to get the BB card and I don’t plan on financing any other devices from them in the future.

So what exactly is the fine print on financing electronics at Best Buy through Citi? From what I can tell, you are screwed if you don’t pay it off completely by the end of the agreement (12mnths). Is it just a credit card and I get approved for a certain limit on that card with 0 interest for 12 months? What happens after I pay it off? Do I just keep this card? What can I use it for? Do I just close it? Would it have any negative effect on my credit? Why would a person want to pay upfront rather than finance? How does Best Buy/ Citi profit from 0% interest? Any insight helps, thanks.

I recently opened a Best Buy card and bought a computer for $2,500. It said ‘financing available,’ so I chose the 18-month plan. They opened the credit card for me, and when I saw that my credit card utilization on that card was 60%, I didn’t understand what was going on. My overall utilization across all my cards is 3%, so I’m not sure how much this Best Buy card will negatively affect my credit score. I had no idea that this kind of financing works like this — no one tells you about it. How negative is this, and is it okay to keep paying it monthly like this, or is it not the best option?

I’m very new to credit cards so if I were to buy this using my credit card. So will I be in det by 1500$ or just 83 a month . And say I miss a month will it then be 166???

Edit: I understand the difference between deferred interest and 0% interest.

Purchased a new Nikon Z8 at Best Buy on sale over the weekend, selected the 12mo 0% BB financing and the nice sales associate told me that if I called customer service after it cleared and asked for 24mo, I could get it extended. Called this morning and had no issues quickly getting it. Just wanted to point this out for anyone who might be thinking about a big purchase, or who has made one recently.