Best Buy offers payment plans through two main programs: My Best Buy credit card and Affirm
Best Buy does offer payment plans, but which one you can use depends on what you're buying and how much it costs. The retailer partners with Affirm, a buy-now-pay-later service, and issues its own My Best Buy credit card. Not every product qualifies for every plan, and the terms—how many payments, whether there's interest, how long you have to pay—change based on the item price and your approval.
The fastest way to know what's available for a specific product is to add it to your cart and look at checkout. Best Buy displays all payment options right there, including whether you may have access to and what the monthly payment would be. If you don't see a plan you want, you may not meet the approval requirements for that particular option, or the product may not be may be able to access.
Key Takeaways
- Affirm lets you split purchases into 3, 6, or 12 monthly payments with no interest if you pay on time, though some items have interest-bearing plans.
- The My Best Buy credit card offers special financing (usually 12 to 24 months with no interest) on purchases over a certain amount, but requires a credit card application.
- Payment plan availability depends on the product category and price; not all items at Best Buy may have access to.
- You can see all available payment options at checkout before you commit to a purchase.
- Late payments on Affirm plans trigger interest charges retroactively, and missed payments on the credit card can affect your credit score.
How Affirm works at Best Buy
Affirm is a third-party lender that lets you split a purchase into multiple equal payments. At Best Buy, Affirm typically offers 3, 6, or 12-month plans. The key difference between plans is whether you pay interest: some purchases may have access to for interest-free terms if you pay on time, while others have interest built in from the start. The interest rate and plan length available to you depend on Affirm's assessment of your creditworthiness, which it checks using a soft credit pull (this doesn't hurt your credit score).
When you choose Affirm at checkout, you enter your phone number and the service shows you available plans instantly. You don't need to apply for a separate account beforehand. Affirm sends you a payment schedule, and you make payments on the dates specified—usually monthly. If you miss a payment or pay late, Affirm charges interest on the full original purchase amount, even if you were on an interest-free plan. This retroactive interest can add hundreds of dollars to what you owe.
Affirm payments come out of a bank account or debit card you link during checkout. The service does not report on-time payments to credit bureaus, so paying Affirm won't build your credit history. However, missed or late payments may be reported and can show up on your credit report.
My Best Buy credit card financing offers
Best Buy's own credit card, the My Best Buy card, offers special financing promotions on larger purchases. These are typically 12 to 24 months with no interest if you pay the full balance within the promotional period. The exact offer—how long you have and what the minimum purchase is—changes by product category and by promotion. For example, a laptop might have a 24-month offer while a smaller accessory might not may have access to for any special financing at all.
To use the My Best Buy card, you must apply for it at the register or online. The application is a hard credit pull, which temporarily lowers your credit score by a few points. If you're approved, you get a card number immediately (usually a digital card you can use right away, plus a physical card in the mail). You then make monthly payments on the card like any other credit card.
The danger with this card is the deferred interest trap. If you don't pay off the full promotional balance by the end of the term, Best Buy charges you all the interest that would have accrued during those months—often 20% or more of the purchase price. This happens automatically; you don't get a warning. If you think there's any chance you won't pay it off in time, the My Best Buy card is riskier than Affirm, where interest only applies if you miss a payment, not if you simply don't finish early.
Comparing Affirm and the My Best Buy card
| Feature | Affirm | My Best Buy Card |
|---|---|---|
| Plan lengths | 3, 6, or 12 months (varies by item) | 12 to 24 months (varies by promotion) |
| Interest-free option | Yes, on many items if you pay on time | Yes, if you pay off balance before promo ends |
| Application required | No | Yes (hard credit pull) |
| Credit impact if on-time | None (not reported to bureaus) | Builds credit if you make on-time payments |
| Late payment penalty | Retroactive interest on full amount | Interest charges plus possible credit damage |
| Early payoff | Allowed with no penalty | Allowed with no penalty |
What products may have access to for payment plans at Best Buy
Not everything at Best Buy is may be able to access for payment plans. Generally, larger purchases—laptops, tablets, TVs, gaming consoles, and appliances—are more likely to have options. Smaller items like cables, cases, or software often don't may have access to. Some categories, like open-box or clearance items, may be excluded from special financing.
The best way to check is to browse the product page or add the item to your cart. Best Buy displays available payment options on the product page and again at checkout. If you don't see a payment plan option, that product doesn't may have access to, or you haven't met the approval threshold for that particular plan. You can still buy it with a regular payment method (debit card, credit card, or cash), but you won't be able to split the cost.
How to avoid common payment plan mistakes
The most expensive mistake is missing a payment on the My Best Buy card's promotional financing. Set up automatic payments or a calendar reminder for the due date. If the promotional period is 24 months, mark your calendar for month 23 so you have time to confirm the balance is paid off before interest kicks in. Many people think they have until the last day of the month; they don't. The interest charges apply the moment the promotional period ends if any balance remains.
With Affirm, the risk is a late payment. Even one late payment triggers retroactive interest on the entire purchase. If you're unsure whether you can make the monthly payments on time, choose a shorter plan (3 or 6 months) rather than stretching to 12 months. A shorter commitment is easier to manage and reduces the window for something to go wrong.
Before you commit to any plan, calculate the total cost including interest (if applicable) and divide it by the number of months. Make sure that monthly amount fits your budget. A $1,200 laptop on a 12-month Affirm plan is $100 a month—but only if you never miss a payment. If you do, the interest can push that to $120 or more per month retroactively.
What happens if you can't make a payment
If you miss a payment on Affirm, contact the service immediately. Affirm may allow you to reschedule or skip a payment in some cases, but this varies. The longer you wait, the more likely the missed payment gets reported to credit bureaus and interest gets applied. Affirm's customer service is available through the app or website.
If you miss a payment on the My Best Buy card, the card issuer (Citi) reports it to credit bureaus after 30 days. Your credit score drops, and you may face late fees. More importantly, if you miss a payment during the promotional financing period, you lose the interest-free offer and all deferred interest becomes due immediately. This can turn a $1,200 purchase into a $1,400+ debt overnight.
If you're struggling to make payments, contact the lender (Affirm or Citi) before the payment is due. Some lenders offer hardship programs or payment deferrals, but you have to ask. Ignoring the problem only makes it worse.
Frequently Asked Questions
Can I use both Affirm and the My Best Buy card on the same purchase?
No. At checkout, you choose one payment method. You can't split a single purchase between Affirm and the credit card. However, you can use Affirm on one purchase and the My Best Buy card on another purchase made at a different time.
Does Affirm check my credit score?
Affirm performs a soft credit pull, which doesn't lower your credit score. However, if you miss payments, Affirm may report that to credit bureaus, which does hurt your score. The initial approval check is invisible to other lenders.
What if I want to pay off my Affirm plan early?
You can pay off Affirm early with no penalty. Log into the Affirm app or website and pay the remaining balance whenever you want. This is a good strategy if you get a bonus or tax refund and want to eliminate the debt faster.
Can I return an item I bought on a payment plan?
Yes, but the refund process depends on which plan you used. If you used Affirm, the refund goes back to Affirm and your payment schedule adjusts. If you used the My Best Buy card, the refund credits your card account. In both cases, you stop making payments on the refunded amount. Check Best Buy's return policy for the time window and condition requirements.
What's the difference between a soft and hard credit pull?
A soft pull (Affirm) checks your credit but doesn't show up on your credit report and doesn't lower your score. A hard pull (My Best Buy card application) shows up on your report and typically lowers your score by a few points for a few months. If you apply for multiple credit cards in a short time, multiple hard pulls can add up and hurt your score more.