Call Best Buy's card issuer to cancel, not Best Buy itself

The Best Buy credit card is issued by Citi, not by Best Buy. That means you cancel it by calling Citi's customer service line, not Best Buy's store or website. The phone number is on the back of your card. Have your card number ready when you call.

When you reach Citi, tell them you want to close the account. They will ask why, but you do not have to give a detailed reason — "I no longer need it" is enough. They may offer you a lower interest rate or other incentives to keep the card open. You can accept or decline. Either way, the cancellation will go through once you confirm.

After you hang up, the account closes immediately, but the card itself remains valid for a few days while the system updates. Do not use it during this window. You will receive a written confirmation in the mail within one to two weeks.

Key Takeaways

  • Call Citi customer service at the number on the back of your Best Buy card to request cancellation — do not contact Best Buy directly.
  • Citi may offer incentives to keep the account open, but you can decline and proceed with closing it.
  • The account closes immediately when you confirm, though written confirmation arrives by mail within one to two weeks.
  • Pay off any remaining balance before canceling, or your monthly payments will continue until the balance reaches zero.
  • Canceling a card can lower your credit score temporarily because it reduces your total available credit, but the effect usually fades within a few months.

What to do before you call

Check your account balance first. If you owe money, you have two choices: pay it off before canceling, or let the account close and continue making monthly payments until it is paid. Most people pay the balance first to avoid the hassle of a separate monthly bill after closing.

You can check your balance by logging into your Citi account online, calling Citi customer service, or looking at your most recent statement. If you have pending charges that have not posted yet, wait a day or two for them to show up so you know the true balance.

You do not need to cut up the card before calling — Citi will tell you what to do with it after the account closes. Usually they ask you to destroy it yourself or return it.

How cancellation affects your credit score

Closing a credit card typically lowers your credit score in the short term. This happens because your total available credit shrinks. If you had a $5,000 limit on the Best Buy card and $10,000 in total limits across all your cards, closing it drops your total to $5,000. Your credit utilization — the percentage of your available credit you are actually using — goes up, and higher utilization hurts your score.

The damage is usually temporary. Most people see the score recover within three to six months, especially if they keep other accounts open and continue paying on time. The longer-term benefit of canceling an unwanted card often outweighs the short-term dip.

If you are planning to apply for a mortgage, car loan, or other major credit in the next few months, consider waiting to cancel until after you have been approved. The timing matters less if you are not borrowing soon.

What happens to rewards points and cash back

Any rewards or cash back you have already earned will remain in your account after you cancel. You can redeem them before or after closing — Citi will not take them away. Log into your account online to see your current balance and redeem through the rewards portal.

If you have not redeemed yet, do it before you cancel so you do not forget. Once the account is closed, you can still access your rewards for a limited time, but the process becomes more cumbersome. Redeeming while the account is active takes seconds.

If you want to keep the card but stop using it

You do not have to cancel the card if you are just not using it anymore. Closing it lowers your score; keeping it open costs you nothing if there is no annual fee. The Best Buy card has no annual fee, so you can simply stop using it and leave the account open.

Citi may close the account for you if it sits inactive for a very long time — usually a year or more — but this is rare and you will receive notice first. Keeping an old card open actually helps your credit score because it maintains your available credit and shows a longer credit history.

Frequently Asked Questions

Can I cancel over the phone, or do I have to go to Best Buy?

You cancel entirely over the phone with Citi. You do not need to visit a Best Buy store or contact them at all. The phone number is on the back of your card.

What if I have a balance I cannot pay off right now?

You can still cancel the account. Your balance will remain, and you will continue making monthly payments to Citi until it is paid off. The account will show as closed on your credit report, but the debt does not disappear.

Will canceling hurt my credit score permanently?

No. The score typically drops for a few months after cancellation, then recovers. The longer-term impact is usually neutral or slightly positive if you were carrying a balance on the card.

How long does it take for the cancellation to show up on my credit report?

Citi reports the closure to the credit bureaus within 30 days. It may take another 30 to 45 days to appear on your actual credit report, but the account is closed immediately when you call.

Can I reopen the account after I cancel it?

Reopening a closed account is difficult and Citi usually will not do it. If you think you might want the card again, consider keeping it open instead. You can always use it later.