Best Buy Layaway and Financing, Explained
Best Buy has no layaway; it offers financing on the My Best Buy Credit Card, lease to own through Progressive Leasing, and Zip installments.
By Olivia HarperContributing writer. Policy checked .
On this page
Store policies and credit terms change. This is a summary in our own words of Best Buy's financing and payment pages, read on October 26, 2026. It is not financial advice; read the official terms before you apply.
Does Best Buy do layaway?
No. Best Buy's Holiday FAQ says it does not offer layaway, and points shoppers to the My Best Buy Credit Card and to lease to own through Progressive Leasing instead. Its Ways to Pay page also lists Zip, a buy now, pay later service.
The My Best Buy Credit Card
Citibank issues two cards: the My Best Buy Credit Card, used only at Best Buy, and the My Best Buy Visa, used anywhere Visa is taken. On each Best Buy purchase you choose one of two things:
- Standard credit: 2.5 points per $1, which Best Buy calls 5% back, before tax.
- Financing: a promotional plan, with no points on that purchase.
At checkout the financing choice defaults to the longest plan you qualify for, and you can pick another.
Financing plans listed on October 26, 2026
| Plan | Minimum purchase | Offer dates |
|---|---|---|
| 12 months | $299 | No end date given |
| 18 months | $499 | October 26 to December 25, 2026 |
| 24 months | $699 | October 26 to December 25, 2026 |
All three are deferred interest plans. If the purchase is not paid in full by the end of the plan, interest is charged back to the purchase date. Best Buy says the offers are subject to credit approval, apply in select stores, can differ online and exclude Easy Replenish orders.
The terms on the same page give an annual fee of $0 to $59 based on creditworthiness, and a variable purchase APR of 27.99% to 30.99% on the store card or 14.49% to 30.99% on the Visa, as of the last 30 days. New cardholders get 2.5 bonus points per $1 on their first day of Standard Credit purchases, if it falls within 14 days of opening the account. You can pay the bill online at Citibank, by phone at 1-888-574-1301, by text or in a store.
Lease to own with Progressive Leasing
Progressive Leasing needs no credit history to apply, though it checks credit bureau data and not everyone is approved. Best Buy's page lists:
- Purchases of $225 and up, on select items, with a $59 first payment plus tax at signing.
- 12 months to ownership, paid weekly, every two weeks or monthly.
- A 90-day purchase option, the cheapest way to own through the program, which still costs more than the cash price.
- Early buyout or return at any time, by calling Progressive at 877-898-1970 (Best Buy cannot do it).
- You must be 18 or older, with a Social Security number or ITIN, a card and a checking account.
Best Buy says owning through a lease costs more than paying the cash price. The program is not offered in Minnesota, New Jersey or Wisconsin; the Ways to Pay page also names Vermont, Wyoming and Puerto Rico, so check your state.
Zip installments
Zip splits a purchase into installments. Best Buy notes it is for US purchases, subject to credit approval and some product limits. It does not list a minimum on its page.
Sources
Best Buy: Holiday FAQ, Ways to Pay, Storewide Financing Details, My Best Buy Credit Card and Progressive Leasing. Policy checked October 26, 2026.