Best Buy offers payment plans through two main routes: their own Best Buy Credit Card and third-party financing through Affirm
Best Buy does not run a single unified payment plan program. Instead, they partner with two separate lenders. The Best Buy Credit Card (issued by Citi) offers promotional financing on purchases over a certain amount—typically 0% APR for 12, 18, or 24 months depending on the item and current promotion. Affirm, a point-of-sale lender, lets you split purchases into fixed monthly payments at checkout, with terms ranging from 3 to 36 months. You do not need a Best Buy card to use Affirm; you can choose it as a payment method at any time.
Which option you see depends on what you are buying and how much you spend. Televisions, laptops, appliances, and gaming systems typically may have access to for both. Smaller items, accessories, and clearance merchandise may not. Best Buy also runs seasonal promotions—Black Friday, back-to-school, holiday sales—that change the terms and thresholds, so the offer available today may not be the same next month.
Key Takeaways
- Best Buy Credit Card financing is 0% APR for 12 to 24 months on may have access to purchases, but you must apply for and be approved for the card first.
- Affirm lets you pay in installments at checkout without a credit card, and you see your exact interest rate before you confirm the purchase.
- Both options require a credit check, and both can be denied if your credit score or income does not meet the lender's threshold.
- Missing a payment on either plan can trigger late fees, higher interest rates, and damage to your credit score.
- Best Buy's return policy still applies to items bought on a payment plan, but you remain responsible for the remaining balance if you return the item.
Best Buy Credit Card: 0% APR promotions and how they work
The Best Buy Credit Card is a Citi card designed specifically for Best Buy purchases. When you use it, you unlock promotional financing offers that are not available to other payment methods. A typical promotion might read "0% APR for 18 months on purchases of $399 or more"—meaning if you buy a laptop for $600, you pay no interest as long as you pay off the full balance within 18 months.
To use this card, you must apply in-store or online, pass a credit check, and receive approval before you can make a purchase. The application takes a few minutes. If you are approved, you receive a card number immediately (digital or physical, depending on how you apply) and can use it right away. If you are denied, you can still shop at Best Buy using another payment method or try again later.
The catch: if you do not pay off the full balance by the end of the promotional period, the remaining balance is hit with the card's standard APR, which varies but typically ranges from 18% to 24%. This is called deferred interest—the interest is not charged during the promotion, but it kicks in retroactively if you miss the deadline. A $600 laptop financed for 18 months at 0% costs $33.33 per month. If you pay $500 in 18 months and still owe $100, that $100 suddenly accrues interest at the card's full rate.
Affirm: Fixed payments with transparent pricing
Affirm is a separate company that Best Buy partners with. At checkout, you can choose Affirm as your payment method instead of a credit card or debit card. You enter your information, Affirm runs a soft credit check (which does not hurt your credit score), and you see your exact payment schedule and interest rate before you confirm the purchase.
Affirm offers terms from 3 months to 36 months. A $500 purchase might be $166.67 per month for 3 months with no interest, or $20 per month for 24 months with interest added. You see all of this before you click "confirm"—there are no hidden fees or surprise interest charges later. If you do not like the rate, you can decline and choose a different payment method.
Affirm payments are due on a fixed schedule—usually the same day each month. You can pay early without penalty. If you miss a payment, Affirm charges a late fee (typically $10 to $35 depending on the state) and reports the missed payment to credit bureaus, which damages your credit score. Unlike the Best Buy card, Affirm does not use deferred interest; the interest you see upfront is the interest you pay.
Credit checks, approval, and what disqualifies you
Both the Best Buy Credit Card and Affirm require a credit check. For the Best Buy card, this is a hard inquiry, meaning it shows up on your credit report and can lower your score by a few points. For Affirm, it is typically a soft inquiry at first, though Affirm may do a hard pull if you are approved and proceed with the purchase.
Approval depends on your credit score, income, and existing debt. There is no published minimum score for either, but generally a score of 600 or higher improves your chances with the Best Buy card. Affirm tends to approve people with lower scores, but may offer shorter terms or higher interest rates. If you are denied by one lender, you can still try the other—they use different criteria.
You can be denied or offered worse terms if you have recent late payments, high existing debt, very low income, or if you have already opened too many new accounts recently. If you are denied, Best Buy still accepts standard payment methods: debit cards, regular credit cards, PayPal, and gift cards.
What happens if you return an item bought on a payment plan
Best Buy's return policy applies regardless of how you paid. You have 15 days to return most items for a full refund (some items have different windows). If you return something you bought on a payment plan, the refund goes back to the payment method you used—the Best Buy card or Affirm account.
Here is the important part: returning the item does not automatically cancel the payment plan. If you financed a $600 laptop and returned it on day 10, the refund is processed, but you are still responsible for making the remaining payments unless you actively cancel the plan. Contact Best Buy or Affirm to confirm the plan is closed. If you do not, you may receive bills for payments on an item you no longer own.
If you return an item and the refund is processed before your next payment is due, you should not owe anything. But if a payment has already been charged, you may need to request a refund from the lender directly.
Late payments, interest, and damage to your credit
Missing a payment on either plan has real consequences. On the Best Buy Credit Card, a missed payment triggers a late fee (typically $25 to $40), and if the balance is not paid within 60 days, the deferred interest kicks in immediately—meaning all the interest you avoided during the promotional period is charged at once. A $600 purchase financed for 18 months at 0% suddenly owes months of retroactive interest.
On Affirm, a missed payment results in a late fee and is reported to credit bureaus within 30 days. Your credit score drops, and future lenders see the missed payment for seven years. Affirm may also suspend your account, preventing you from using Affirm for future purchases at Best Buy or other retailers.
Both lenders can pursue collection action if payments remain unpaid for several months. This means phone calls, letters, and potentially a lawsuit to recover the debt. The debt can also be sold to a collection agency, which continues to pursue you.
Comparing Best Buy Credit Card and Affirm side by side
| Feature | Best Buy Credit Card | Affirm |
|---|---|---|
| Interest rate | 0% APR for promotional period (12–24 months typical); standard APR after (18–24%) | Varies by term and creditworthiness; shown before purchase |
| Application required | Yes, separate from purchase | No; done at checkout |
| Credit check type | Hard inquiry | Soft inquiry initially; may be hard if approved |
| Payment terms | 12, 18, or 24 months (varies by promotion) | 3 to 36 months |
| Deferred interest | Yes; charged retroactively if balance not paid in full by end of promotion | No; interest is fixed and transparent upfront |
| Late fees | $25–$40 typical | $10–$35 typical (varies by state) |
| Can use elsewhere | Yes; it is a Citi credit card usable anywhere Visa is accepted | Only at Best Buy and other Affirm partners |
Frequently Asked Questions
Can I use both the Best Buy Credit Card and Affirm on the same purchase?
No. You choose one payment method at checkout. You can use the Best Buy card for one purchase and Affirm for another, but not both on the same transaction.
What if I pay off my Best Buy card balance early?
You can pay off the balance at any time without penalty. Paying early ends the promotional period, but you avoid deferred interest charges. There is no prepayment fee.
Does Affirm work on all Best Buy purchases?
Affirm is available on most items, but some exclusions exist: gift cards, services, certain clearance items, and items under a minimum price threshold (usually around $35). You see whether Affirm is available when you reach checkout.
What is my credit score after using a payment plan?
Using a payment plan and making on-time payments can actually help your credit score over time, because it shows you can manage installment debt responsibly. Missing payments or carrying a high balance hurts your score.
Can I transfer my Best Buy card balance to another card?
Yes, you can transfer the balance to another credit card, but you lose the 0% promotional rate and pay the new card's APR instead. This is rarely a good move unless the new card offers a lower rate or longer promotional period.