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New Member
Posts: 2
Registered: ‎10-20-2019
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My Best Buy Terms updated October 21, 2019

Received an email October 20, 2019 stating the My Best Buy program terms have changed with a link to the updated terms & conditions. Found the following terms concerning reward points interesting.

Section 3
My Best Buy Credit Card and My Best Buy Visa Card

i Core members receive 2 points for every $1 spent.
ii Elite members receive 1.5 points for every $1 spent.
iii Elite Plus members receive 1.75 points for every $1 spent.

It seems to may be advantageous to remain a Core member!
Regular Member
Posts: 31
Registered: ‎06-22-2015

Re: My Best Buy Terms updated October 21, 2019

The terms in that link are still the terms from February 2019, they haven't posted the new terms yet (it says you can read them October 21st). The terms you posted are referring to the additional points for using the Best Buy credit card. Base points are 0.5 for core, 1 for elite, and 1.25 for elite plus. This means that with the credit card you have no additional benefit for being an elite member (still 5% back total) but you get an extra 1% for being elite plus. For base points you get the equivalent of 1% back for core, 2% for elite, and 2.5% for elite plus. I wonder what the changes are tomorrow.
New Member
Posts: 5
Registered: ‎01-26-2018

Re: My Best Buy Terms updated October 21, 2019

Like ajm268 said, those are the points specifically for the credit card. The points for the being a My Best Buy Member are quite a bit different. For core members they are .5 a point for every $1 spent. Elite members get 1 for every $1. And Elite Plus members get 1.25 for every $1. Anyway. It would have been nice to see the actual updated T&C, instead of them linking the original -_- Not entirely sure what the point of that was. 

New Member
Posts: 2
Registered: ‎10-20-2019

Re: My Best Buy Terms updated October 21, 2019

Would have made sense for the link to be to the actual updated terms! I did notice the date of the terms, I assumed it was an error. I do understand the points in question are specifically for the credit card, still seems to be incorrectly weighted for core members according to the T&C.

Also, to be Elite, you must spend $1,500 within a calendar year; via either Best Buy purchases with or without using the Best Buy credit card or using the Best Buy credit card anywhere. This gives you an extra .5 points per $1; doubling your reward, a decent incentive. To be Elite plus, you have to spend $3,500, gaining you only an extra .25 points beyond Elite... seemingly a less than glorious incentive for spending an extra $2,000, doesn't really seem worth it IMHO.

I think they could rework their bonus structure to better incentivize an increase in spending habits; at a bare minimum for Elite plus, 1.5 points per $1, preferably 1.75 points per $1. I guess there is a limit where profitability is concerned, and to be honest, I'm not sure what that line is; but in today's competitive market, they need to utilize every incentive they can offer to combat a certain unnamed online behemoth.

Other considerations would be the limited market who will spend $3,500 every calendar year (almost solely business purchases) and the fact that many just see the additional reward without doing the actual math.
Regular Member
Posts: 31
Registered: ‎06-22-2015

Re: My Best Buy Terms updated October 21, 2019

It used to be similar to what you're suggesting, markrw, but the rewards program has increasingly worsened over the years. Fewer points per dollar spent, the cancellation of gamer's club unlocked (and the free gamer's club), coupons fewer and farther between with ever more restrictions to the point that they're practically useless for anything other than cheap accessories. I seriously doubt they'll make things better any time soon. That's not unique to Best Buy though.
Posts: 82
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Registered: ‎06-16-2014

Re: My Best Buy Terms updated October 21, 2019

Thank you, everyone, for reaching about the recent changes that happened with the My Best BuyTerms.

 

You are correct that these changes did happen today, October 21, 2019. I encourage you all to take a look at the My Best Buy™ Terms online where you will see right away all the changes that have occurred. We appreciate you all for being loyal members.

 

Don't forget to check out exclusive deals for My Best Buy™ members on the Offers page as well!

Heidi|Senior Social Media Specialist | Best Buy® Corporate
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