Best Buy offers several payment plans, but the terms and interest rates depend on which card you use and what you're buying

Best Buy's payment plans let you split purchases into monthly payments instead of paying upfront. The most common option is their My Best Buy credit card, which offers 0% interest for 12, 18, or 24 months on may have access to purchases — but only if you make your minimum payments on time. If you miss a payment or don't pay off the balance before the promotional period ends, you'll owe interest retroactively on the full original amount.

Best Buy also offers Affirm, a third-party financing service that shows you the interest rate and total cost upfront before you commit. Affirm terms typically run 3 to 12 months, and unlike the credit card, the interest rate is fixed from the start — you know exactly what you're paying. A third option is PayPal Credit, which works similarly to the Best Buy card but through PayPal's system.

The catch: not every item qualifies for every plan, and the terms change based on the product category and your creditworthiness. A laptop might may have access to for 24 months interest-free, while a phone might only get 12 months. You need to check at checkout to see what's actually available for your specific purchase.

Key Takeaways

  • Best Buy's credit card offers 0% interest for 12 to 24 months on may have access to purchases, but interest applies retroactively if you miss a payment or don't pay off the balance in time.
  • Affirm shows you the exact interest rate and total cost before you commit, with terms usually between 3 and 12 months.
  • Not all products may have access to for all plans — availability depends on the item and your credit profile, and you'll see your options at checkout.
  • Missing a payment on the Best Buy card can trigger the full retroactive interest charge, so set up automatic payments if you use that option.

How the Best Buy Credit Card Plan Works

The My Best Buy credit card is a store card issued by Citi. When you use it for a may have access to purchase, you can choose a promotional period: 12, 18, or 24 months at 0% interest. During that time, you pay a fixed monthly amount. As long as you make every payment on time and pay off the full balance before the promotion ends, you pay no interest.

The risk is the retroactive interest clause. If you miss even one payment or still owe money when the promotional period expires, Best Buy charges you interest on the entire original purchase amount, calculated from the purchase date. For example, if you bought a $1,200 laptop on a 24-month 0% plan and missed one payment, you could suddenly owe hundreds of dollars in interest on top of what you still owe.

You can also use the card to make regular purchases at Best Buy and earn rewards points, but those don't get the promotional rate — they carry the card's standard APR, which varies based on your credit. The card also comes with a $0 annual fee.

Affirm: Fixed Interest Rates and Shorter Terms

Affirm is a separate financing company that Best Buy partners with. Instead of a promotional 0% rate that can flip to high interest, Affirm shows you the exact interest rate and monthly payment before you commit. You see the total cost of the loan upfront, so there are no surprises later.

Affirm terms are usually shorter than the credit card — typically 3, 6, or 12 months — and the interest rate depends on your credit profile and the loan term. A shorter loan means lower total interest but higher monthly payments. Affirm also reports your payment history to the credit bureaus, so making payments on time helps your credit score.

One advantage: Affirm doesn't have the retroactive interest trap. Your rate is locked in, and you know exactly what you'll pay. The downside is that the interest rate is rarely 0%, so you'll pay something, even if it's a small amount on a short-term loan.

PayPal Credit and Other Options

Best Buy also accepts PayPal Credit, which works like the Best Buy card — it offers 0% interest for a set period (usually 6 or 12 months) on may have access to purchases. The same retroactive interest rule applies: if you don't pay off the balance in time or miss a payment, you owe interest on the full amount from the purchase date.

Some Best Buy locations may also offer Synchrony financing on certain product categories like appliances or furniture, though this is less common than the credit card or Affirm. Terms and rates vary by product and your credit.

You can also use a regular credit card or debit card to pay upfront, but that doesn't give you the benefit of splitting payments over time. Some people use a rewards credit card to earn points while paying in full, which avoids interest entirely.

What Qualifies and What Doesn't

Best Buy doesn't let you use payment plans on every purchase. Typically, items under $200 to $300 don't may have access to, though this threshold varies. Gift cards, digital content, and services usually can't be financed. Some clearance or open-box items may also be excluded.

The product category matters too. High-ticket items like TVs, laptops, and appliances almost always may have access to for the longest promotional periods. Smaller electronics, accessories, and software may have shorter terms or no promotional rate at all. You'll see what's available for your specific item when you add it to your cart and proceed to checkout.

Your credit profile also affects what you're offered. If you have excellent credit, you might see 24-month 0% options. If your credit is fair or poor, you might only see shorter terms or Affirm with a higher interest rate. Best Buy doesn't publish exact credit score requirements, but the system evaluates you at checkout.

How to Avoid Paying Unexpected Interest

If you choose the Best Buy credit card's 0% promotional rate, set up automatic payments immediately. Calculate the monthly payment yourself and set it to debit your bank account on the same day each month — don't rely on remembering to pay manually. Missing even one payment triggers the retroactive interest, which can be hundreds of dollars on a large purchase.

Mark your calendar for the last month of the promotional period. If you haven't paid off the balance by then, you'll owe the retroactive interest. Some people pay off the balance a few days early just to be safe, since processing times can vary.

If you're unsure whether you can pay off the balance in time, Affirm is the safer choice. You know the exact interest rate upfront, and there's no penalty for paying early. You can also pay off an Affirm loan early without extra fees, which can save you interest.

Read the terms before you commit. Best Buy's website and the checkout page both show the promotional period, the monthly payment, and the APR that applies if the promotion ends. Take a screenshot or write down the details so you have proof of what you agreed to.

When a Payment Plan Makes Sense

A payment plan works best when you're buying something expensive that you need now and can afford to pay off within the promotional period. If you're buying a $1,500 laptop for work and you know you'll have the money in 12 months, a 0% plan saves you money compared to putting it on a regular credit card that charges interest immediately.

A payment plan is riskier if your income is unstable or you're not sure you can make the payments. If you lose your job or have an unexpected expense, missing a payment on the Best Buy card means you suddenly owe years of retroactive interest. In that case, it's better to save up and pay upfront, or use Affirm so you at least know the worst-case interest cost.

Payment plans also make sense for building credit, but only if you make every payment on time. Affirm and the Best Buy card both report to credit bureaus, so a perfect payment history helps your score. A missed payment or late payment hurts it.

Frequently Asked Questions

What happens if I pay off the balance early?

On the Best Buy credit card, you can pay off the balance early without penalty, and you won't owe any interest as long as you pay it off before the promotional period ends. With Affirm, you can also pay early without penalty, and you'll save on interest since you're paying less time's worth of interest charges.

Can I return an item I bought on a payment plan?

Yes, but the refund goes back to the payment plan account, not as cash. If you return the item, your remaining balance is canceled, and you stop making payments. If you've already made some payments, those don't come back to you — the refund just eliminates what's left to pay.

What's the difference between the Best Buy card and Affirm?

The Best Buy card offers 0% interest but charges retroactive interest if you miss a payment or don't pay off in time. Affirm charges interest upfront but locks in the rate and has no retroactive penalty. Affirm is safer if you're worried about missing a payment; the Best Buy card is cheaper if you're confident you'll pay on time.

Do I need a Best Buy credit card to use a payment plan?

No. You can use Affirm or PayPal Credit without the Best Buy card. You only need the Best Buy card if you want to use their specific 0% promotional offers. You'll see all available options at checkout.

Will a payment plan hurt my credit score?

Opening a new credit account (like the Best Buy card) causes a small temporary dip in your score. Making on-time payments helps your score over time. Missing payments or carrying a high balance hurts it. Affirm also reports to credit bureaus, so the same rules apply.