How to Cancel a Best Buy Credit Card

You can close your Best Buy credit card account by calling the customer service center. However, there are some things you should know before officially canceling your credit card, so you don’t cost yourself money or damage your credit score.

If you’re on the fence about deactivating your Best Buy account, there are alternatives you can explore.

What to know before canceling your Best Buy credit card

Closing a credit card account has some hidden consequences you should consider before you take steps to officially shut down your Best Buy credit card account. Here are some things to consider before ending your line of credit:

• Your points will stay in your account: According to Best Buy, any unredeemed rewards you’ve earned on your credit card will remain in your Best Buy account even after you’ve canceled your card.
• You won’t get your annual fee back: If you’ve already paid an annual fee for your Best Buy credit card, you won’t get any of it refunded when you cancel—even if you still have most of the year left. Unless you’re also paying monthly fees, consider waiting to cancel until right before your next annual fee is due, so you can continue taking advantage of your Best Buy credit card’s benefits in the meantime.
• You’ll still get billed: If you leave an unpaid balance on your Best Buy credit card, the debt won’t disappear when you close the account. Instead, you’ll continue to be billed until the balance is paid in full, even if your Best Buy account is fully closed.
• Your credit score may drop: Canceling a credit card may affect your credit utilization ratio and your credit age (though the latter will only be affected in your VantageScore, not your FICO score). Both of these are factors in your credit score, so you may see a slight drop in points when you shut down your Best Buy credit account.

How to close a Best Buy credit card account

The only way to cancel a Best Buy credit card is over the phone.

How to cancel a Best Buy credit card by phone

To cancel your Best Buy credit card by phone, call (888) 574-1301.

Tell the agent you want to cancel your credit card and provide them with your account details.

Alternatives to canceling your Best Buy credit card

If you’re not yet set on closing your Best Buy credit card for good, consider one of these alternatives.

Request a different card

If your current Best Buy credit card isn’t serving your needs well enough, consider requesting a credit card upgrade or downgrade.

If your card costs too much in fees that you don’t feel are offset by rewards, call the number on the back of your Best Buy credit card and ask if you can downgrade to a less expensive card.

If your current Best Buy credit card doesn’t offer enough rewards or benefits, call the number on the back of your card and request an upgrade to a better credit card. Note that whether they accept your request will likely be based on your borrowing history and current credit standing.

Request a credit limit increase

Considering canceling your Best Buy credit card because you need more credit? Don’t pull the trigger until you’ve first tried requesting a credit limit increase.

To get a Best Buy credit limit increase, call the number on the back of your credit card.

Negotiate your interest rate

If a high interest rate is what’s giving you pause about your Best Buy credit card, consider calling the number on the back of the card and negotiating your credit card interest rate. You may be able to get a lower interest rate if your credit score has improved or if you’re facing unexpected difficulties (like job loss or divorce).

Freeze your card

You may want to cancel your card to resist the temptation of overspending on credit. If you’ve been purchasing past your limit, putting your card away for a while is a great idea. However, you may want to freeze your card rather than close your Best Buy account entirely.

Freezing, or locking, your Best Buy credit card renders the card unusable until you choose to unfreeze it. There are no charges or penalties for freezing a Best Buy credit card.