Monday, September 7, 2015

Earned Elite Status at Best Buy? Change Your Best Buy Rewards Settings and Your Rewards Certificates Will Never Expire Again!

Best Buy Rewards are nice rewards that come with Best Buy purchases.

Each point is worth $0.02 towards Best Buy money.  

If you have no status, you earn one point in Best Buy Rewards (2%) for every $1 spent.
Elite status members earn 1.1 points for every $1 spent (2.2%).
Elite Plus members earn 1.25 points for every $1 spent (2.5%).

You earn elite status at Best Buy when you spend $1,500 or more in one year.
You earn elite plus status when you spend $3,500 or more in one year.

The problem I used to have was that once you reached a certain threshold, Best Buy would auto issue your rewards and you would have about 2 months to use your certificate.  If you didn't use it, it would expire and your 2-2.5% in rewards was now useless.  This is annoying for a reseller if you can't find something good to buy, but it is even more annoying if you aren't a reseller since you have to find something you will actually use yourself (who buys stuff at Best Buy to use?).

No more for me!  

Apparently, Best Buy has a feature that allows you to choose the threshold when certificates are awarded.  The threshold goes all the way up to 25,000 points ($500 certificate).  

Even better than that, you can choose "Point Banking" and your rewards won't be issued until you issue them yourself.  You can then issue the points when you are ready and you won't have to make a purchase just because your rewards are expiring.

This feature is only available if you have elite or elite plus status (HT: @MilesWhip)

Here is how to do it:
1) Log into your Best Buy Rewards Account and go to Rewards Overview

You should see this screen:

2) Click on "Change"  (Highlighted above).   That will change the threshold in which certificates are awarded.  Mine has already been changed to "Point Banking".  Yours may say "$10".

3) Click on Point Banking from this menu:

4) Done!