May 3 (2022): Changes to Best Buy Rewards program, Goodbye Three Tiers

Ch-ch-ch-changes! Starting May 3 in 2022, Best Buy is streamlining their rewards program. Gone will be the three tiers. Everyone will be in a single tier, earning the same percentage, half a point for every $1 spent. Points will be redeemed in 250 point increments. 250 points is a $5 reward certificate, thus making it a 1% reward, since 1 point = 2 cents.

Not sure why they have it twisted like that instead of making it a straight 1:1. It’s the same thing, just the 0.5x and 2x can be confusing to those who do not pay close attention.

Best Buy credit cards earn higher percentages depending on card and promotion.

Some items and brands are not eligible to earn points (check the “E. Receiving points” segment) and some things cannot be paid with a reward certificate (check the “3. Non-Qualifying Redemptions”).

Ironically, the company with the highest profit margins in the universe (Apple/Beats purchases) do not earn points 🙂

Details at the Best Buy Terms and Conditions.

Note that the new terms are at the top of the page under the “Upcoming 5/3/22 update” section. If you scroll further down, you will find the previous terms that expire on 5/2/22. So if you are using your browser’s search feature to look for specific things, make sure you are in the correct section of the page…