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Best Buy, Citi Add Pay With Points to Growing Payment Options

Forget checking the couch cushions for spare change. It’s time to check your credit card rewards balance for unused points instead.

Best Buy customers can now use Citi ThankYou Points to pay for all or a portion of most purchases made on BestBuy.com, making it easy and convenient to redeem their points for top tech products.

Consumer electronics are already among the most sought-after redemption categories in the ThankYou Rewards program, and this partnership offers a new, more versatile way for Citi ThankYou members to get items they want the most.

It’s a big win for consumers because they’re now able to redeem points toward virtually any product sold at BestBuy.com, not just a preselected assortment in a rewards catalog. Plus, they can take advantage of sale prices, and they can opt for Store Pickup to get their order right away. (Customers will be able to return items at any Best Buy store, as well.)

“Our partnership with Best Buy is another important milestone for on-demand points redemption that offers members the flexibility to choose to cover all or part of any purchase made on BestBuy.com,” said Mary Hines, Citi’s managing director for benefits, new product development and global rewards.

The partnership between Best Buy and Citi is part of a broader trend of consumers being able to use rewards points as currency. Last year, Best Buy and American Express teamed up to launch “Pay With Points,” to allow customers to redeem their American Express Membership Rewards points to pay for all purchases at BestBuy.com (except e-gift cards).

To pay with points, Citi or American Express rewards members can simply visit BestBuy.com, select the items they wish to buy and enter an eligible credit card at checkout. They can then view their available points balance and select how many points they would like to apply, up to the full purchase amount. After completing the purchase, the full amount will be billed to the customer’s credit card statement. They will receive a statement credit for the dollar value of the points used within 24 to 48 hours.

As technology continues to evolve, so, does the way shoppers pay for goods and services. That’s why Best Buy gives our customers many options. In addition to the old staples of cash, checks and credit cards, we also accept mobile payment platforms such Apple Pay, Android Pay and Samsung Pay, as well as Visa Checkout, PayPal and now AmEx and Citi rewards points.

So go check your rewards balance for unused points. You might just be able to turn them into that new TV or smartphone you’ve been saving up for.