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The My Best Buy terms are changing PSA (One tier for all members)

4 22 March 28, 2022 at 12:57 AM in Tech & Electronics Get Best Buy coupons
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Last Edited by ebaymerchant March 28, 2022 at 01:22 AM
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First post but just got this in my inbox, thought other would want to know about it:

Dear My Best Buy® member,

Thank you for being a part of My Best Buy. We would like to inform you of the updated Terms and Conditions, including changes to the dispute resolution terms, coming to the My Best Buy program on May 3, 2022 (View updated My Best Buy program Terms here).

In an effort to simplify the program, we will be consolidating the Elite Plus, Elite and My Best Buy tiers into a single tier. On May 3, 2022, My Best Buy members in the Elite and Elite Plus tier will be moved into the standard My Best Buy program*.

We are also updating how points are displayed within the program. My Best Buy members will earn 1% back in rewards on qualifying purchases (0.5 points for every $1 spent) at Best Buy® and Participating Properties.

As a My Best Buy Credit Cardmember, you will earn 5% back* in rewards on qualifying net purchases (2.5 points for every $1 spent) at Best Buy and Participating Properties made with your Card when selecting standard credit. In addition, you will have the exclusive benefit of banking* your points until you're ready to issue a My Best Buy reward certificate. If your preferences are currently set to points-banking, we'll keep the preferences saved for you if your Card account remains open.

Thank you for being a My Best Buy Cardmember. If you have any questions or concerns, please contact us at 1‑888‑BEST BUY (1‑888‑237‑8289).

-The Best Buy Team

https://www.bestbuy.com/site/my-b...t=20378788
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Joined Dec 2010
L7: Teacher
> bubble2 2,708 Posts
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dragonkid
03-29-2022 at 11:08 PM.
03-29-2022 at 11:08 PM.
Quote from mav2u :
Yeah, no Elite Plus, no reason to stay with them! I'll get an Apple Card and keep Amazon Prime, get better payback an features! They are definitely shooting themselves in the foot.
Guess in 4 years, Best Buy going out of Business sale.
Quote from SpaceMan6969 :
I agree but why 4 years? They could go bad anytime
They introduced the Reward Zone with an annual fee $10 in 2003 and almost out of business in 2008/ 2009, so now they are pushing Total Tech with $200, so adjusting for inflation, maybe they will die for good in 4 years. Applause
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Joined Aug 2018
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OrangeFlash64
03-30-2022 at 07:17 AM.
03-30-2022 at 07:17 AM.
I guess their accountants ran the numbers and determined that they'd still make more money pushing the TT program and BB credit card than keeping loyal customers who would go OUT OF THEIR WAY to spend a certain amount there each year.

I just don't see how this was calculated to be the best path forward.
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Joined Aug 2011
L3: Novice
> bubble2 103 Posts
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blackursa
03-30-2022 at 03:07 PM.
03-30-2022 at 03:07 PM.
Quote from Astroballs :
Moving the Total Tech membership further into the spotlight.
Honestly, not a bad deal for those making 1-2 major appliance purchases in the year. Came out on top buying a fridge, washer, dryer, and TV altogether. Bundle discounts + free installs + free mounting + expedited delivery + longer return window + 'GSP' included in the price now.
Balances out.

Not the same, for sure, but at least I won't have to spend the $3.5k/yr to get the benefits now.
One gotcha regarding the Geek Squad Protection benefit you'll want to keep in mind: you need to have an active membership to use it. So for 2 years of protection, you'll need to pay $400.

From the terms: With Totaltech, you'll get up to 24 months of product protection on most new Best Buy purchases, including AppleCare+ on Apple products, with an active membership.1
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Joined May 2013
L6: Expert
> bubble2 1,214 Posts
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TechManDad
03-30-2022 at 05:27 PM.
03-30-2022 at 05:27 PM.
There goes the only reason to choose Best Buy over any other merchant.
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Joined Nov 2015
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> bubble2 332 Posts
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OzJodo
03-30-2022 at 06:15 PM.
03-30-2022 at 06:15 PM.
Quote from blackursa :
One gotcha regarding the Geek Squad Protection benefit you'll want to keep in mind: you need to have an active membership to use it. So for 2 years of protection, you'll need to pay $400.

From the terms: With Totaltech, you'll get up to 24 months of product protection on most new Best Buy purchases, including AppleCare+ on Apple products, with an active membership.1

This is true
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Joined Oct 2020
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GreenKite4385
03-30-2022 at 07:35 PM.
03-30-2022 at 07:35 PM.
It's just come to a point for me where I'm not going to leave reviews for reward points or even bother with their rewards system anymore. I will only shop there when I see a unbeatable deal and use my own credit card for rewards.
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Joined May 2009
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tallassmike
03-31-2022 at 08:51 AM.
03-31-2022 at 08:51 AM.
They just renovated my Best Buy and it strangely looks like just the final years of fry's electronics inside.

They expanded the online pick up and added a pick up locker. While the rest of the store just looks like warehouse aisles in a furnished building.

Just sucks since I opened up the credit card last year since I need some appliance refreshes and chose BB over Costco.
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Joined Aug 2011
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blackursa
03-31-2022 at 11:41 AM.
03-31-2022 at 11:41 AM.
There was a pretty long thread on the Best Buy forum where people were expressing how upset they were with the change. Their mods deleted the entire thread this morning.
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Joined Aug 2011
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blackursa
03-31-2022 at 11:52 AM.
03-31-2022 at 11:52 AM.
Never mind. Looks like it's back again.
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Joined Dec 2015
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Spaceman6969
03-31-2022 at 12:27 PM.
03-31-2022 at 12:27 PM.
Quote from blackursa :
There was a pretty long thread on the Best Buy forum where people were expressing how upset they were with the change. Their mods deleted the entire thread this morning.

Link? I want to join and read
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Joined Oct 2010
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> bubble2 5,115 Posts
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ctjester
03-31-2022 at 12:56 PM.
03-31-2022 at 12:56 PM.
Thanks for all the posts. Long time BB credit card holder who banked points. Loved the long return policy and extra points which was an incentive to shop there. Now? Will still use the card but they took away why I used it so much. Bean counters win again over customers!!
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Joined Aug 2011
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blackursa
03-31-2022 at 04:19 PM.
03-31-2022 at 04:19 PM.
Quote from SpaceMan6969 :
Link? I want to join and read
https://forums.bestbuy.com/t5/Eli...-p/1402860
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Joined Nov 2015
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OzJodo
03-31-2022 at 06:07 PM.
03-31-2022 at 06:07 PM.
Quote from blackursa :
https://forums.bestbuy.com/t5/Eli...-p/1402860

Reddit also has a thread going

https://www.reddit.com/r/Bestbuy/...ame=iossmf
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Joined Dec 2010
Live Long And Suck It!
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CheapestGamer
04-01-2022 at 05:11 AM.
04-01-2022 at 05:11 AM.
Quote from blackursa :
https://forums.bestbuy.com/t5/Eli...-p/1402860
This is why I have never spent the required amounts to "earn" the higher levels of their rewards program as companies only care about profits and couldn't care less if you're a loyal customer or not. Besides which I find most stuff cheaper elsewhere.

The only time I have ever had one of the higher tiers was when you could "churn" the same gift cards over and over into prepaid Visa cards, buy Best Buy gift cards with the prepaid Visas (which got you points for the purchase too), then rinse and repeat till you made the required amount of "purchases". The only cost was the activation fee for the Visa cards.
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Joined Jun 2005
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Hiccup
04-01-2022 at 08:01 PM.
04-01-2022 at 08:01 PM.
There's no reason to shop at best buy anymore. Countless competitors have better deals, offers, promotions, incentives, programs, etc. Games are now routinely cheaper at Walmart/ Amazon/ target/ gamestop. Appliances are cheaper at home depot and they include installation/ delivery. Home depot also price matches appliance. Costco does installation/ delivery.

This sucks. Really feels like the end of an era and best buy throwing in the towel. Feels like best buy is going belly up like Frys. Getting really, really strong frys vibes from best buy now. I'll just ship elsewhere because lord knows best buy's customer service wasn't exactly keeping me shopping with them.

This is just such a myopic and asinine decision by the CEO and company. A company should want more customers, not fewer. They should want the foot traffic and eyes and liquidity these customers give. They basically have a solid foundation of customers that spend 3500+ and they suddenly want to get rid of them and send elsewhere. This is akin to a casino saying they don't want gamblers. Best buy was already nearing bankruptcy once. I won't be surprised if they kick the bucket this time around.

Best Buy can bet that I will now be sending my company purchases elsewhere. Also, I will go out of my way to tell others to shop with Amazon, Walmart, target, etc. Elite/Elite Plus wasn't even the greatest thing going but it did enough to get me to purchase way more with best buy than I would otherwise. I'll just skip and shop around more now. I have Costco and Amazon Prime anyway, and like I said, Walmart beats them on new release games.
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Last edited by Hiccup April 1, 2022 at 08:09 PM.
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