Get a PlayStation credit card, $150 off PS3 purchase

by Ludwig Kietzmann { Nov 25th 2008 at 1:45PM }

If you're going to hurl yourself into an inescapable and ultimately ruinous pit of financial debt, at least do it for a good cause. Like video games! The official PlayStation blog has revealed a sleek little silver number in the form of a PlayStation-branded VISA credit card. Aside from facilitating reckless shopping sprees, the card offers a special introductory sign-up offer: $150 credit towards the purchase of a PlayStation 3. The offer will expire after December 31, 2008.

To partake in this Holidaze deal, you can either get approval and purchase the system online, or apply here and purchase the console from any authorized retailer. Be sure to read the small print -- and if it's all small print, it probably means the repo man is walking away with your computer monitor.

Tags: Credit-Card, Holidaze-2008, Playstation, Visa

Reader Comments (Page 1 of 2)

Henry @ Nov 25th 2008 1:51PM

Ugh, I have sworn to myself never to get a credit card but that is pretty tempting. That and the tiger one lol.

Ayrkain @ Nov 25th 2008 2:02PM

Can I buy a tiger with it?

Tiptup300 @ Nov 25th 2008 2:23PM

I actually need to get one to establish credit. Although I'm going to pay it off instantly when used.

offday @ Nov 25th 2008 2:30PM

I'm in the same boat with the establishing credit problem. I don't have any, and to do anything to establish it, I need it to begin with. It's an endless cycle of crap.

Marty @ Nov 25th 2008 2:40PM

Well I don't know about a PS credit card, but why would you not want a credit card in general? As long as you have self control and you pay your bills every month, there's no reason not to have at least one, especially if you want to establish your credit history. Plus, it's great for emergencies when you don't have cash, and it's safer than using your ATM card everywhere.

Henry @ Nov 25th 2008 2:53PM

Yeah it sounds easy on paper but I just don't trust myself.

Tiptup300 @ Nov 25th 2008 3:08PM

The only bill I can really get is cellphone, and I don't have the credit to enter a contract. You see, this is my dilemma. The cable/internet bill is in my roommate's name, I just pay him for the internet. The rest is all part of rent (which is also in his name.) The only other bill there is is phone.

JCollum @ Nov 25th 2008 3:09PM

@tiptup3000

Best way to build credit is to get it and keep it at about 20% of maximum, then pay the minimum every month. Paying it off in full every month won't really help your FICO score. FICO shows that you can manage debt, paying it off quickly doesn't demonstrate that ability. Weird but true.

Eh @ Nov 25th 2008 3:12PM

Not having credit history will screw you extra hard later in life. Maybe not extra hard, more like super extra mega hard. Credit score checks are getting out of control since there doesnt seem to be any laws against companies denying people services based on credit scores, the way things are going youll be denied to wipe your ass in 10 years if you dont have credit.

It might seem smart to not get a credit card since then you wont have debt, but its really one of the dumbest decisions you can make.

Vcize @ Nov 25th 2008 3:28PM

Not having a credit card at all is just foolish. You're going to end up costing yourself egads of money in the long run with jacked up interest rates on your car/house purchases, deposits on your cellphone contracts, etc due to your lack of credit.

I'm not sure why people think that having a credit card automatically means you're in debt. Just pay it off in full every month, which basically means you're using it like a debit card, and you're only getting perks on top of building credit to save you even more money later. It's win/win/win as long as you have the self-discipline not to screw it up by going on some huge spending spree with money you don't have. Just pretend it's a debit card and that you can only spend as much as in your bank account.

xGeneral DEATHx (Mr ESC Welcome Back Party Ultimate Mega Action Force) @ Nov 25th 2008 4:36PM

To those looking to establish credit:

Buy a house! After that, people will want to throw all sorts of debt your way! And after all, a house's upkeep is so easy....so easy, that...so....so expensive...sigh...

...yeah, get the credit card.

Envoy @ Nov 25th 2008 1:52PM

If I didn't have a PS3 I would be all over this. Anyone with a job and is over 18 should really consider this.

Wiinterfang @ Nov 25th 2008 1:55PM

Let me consider it...NO.

religiousjedi @ Nov 25th 2008 2:00PM

Really? Why should I consider it?

I have a job and the money...but I'm not gonna get bogged down with dozen of credit card dues just so I can get $150 off a PS3...

Especially with a crappy economy.

Hala Madrid!! (THE BIRD IS THE WORD!!) @ Nov 25th 2008 2:06PM

Not really, the economy is fucked up right now dude.

I think a debit card is a better option.

Duke @ Nov 25th 2008 2:43PM

Gotta disagree. People should shy away from adding to their credit card debt at a time of financial weakness.

Don't do it!

butaneko @ Nov 25th 2008 3:39PM

When did everyone become so paranoid about credit cards? Here's a secret, if there are no monthly or annual fees and you pay off your balance at the end of the month, credit cards don't cost you anything! In fact you often get rewards, like $150 off a PS3.

Enjoy your backwards lifestyle involving money orders and CODs.

Duke @ Nov 25th 2008 4:39PM

Way too be overly dramatic and judgmental. I've never used cod before and I think I used a money order once when I was a teen. The issue isn't us being backwards, it’s that people shouldn't run to get more credit cards when the belt has been tightened. So yeah, you can be smart and not gather a lot of debt when you get a new one, but there are a lot of people who are missing the ability to be responsible. See: bankruptcy courts.

Sackolantern PSN ID: johnnynumber5 @ Nov 25th 2008 4:40PM

Yeah you guys are really showing your not very mature or have never actually bought anything. If all you do is pay cash for everything your whole life you won't be able to buy a house at a decent rate.

I see it all the time ... Older people that never had a penny for debt, always paid cash for everything and can't get a loan to save their life.

Even though I have enough money to pay cash for pretty much anyting I want (like a new TV or whatever) I would still get in on some of this 36 months same as cash stuff going on now at retailers like best Buy. Thats right, Best Buy has a special on all purchases $999 and up to get 36 months interest free or same as cash. Not to mention you don't even need a pre-existing credit card to qualify (my friend is the manager there). It's not like you have monthly minimum payments or anyting like that. Just make sure that you pay something every month and have it paid off after 3 years. Great way to build a credit score and good credit history which are essential when making bug purchases later in life.

Duke @ Nov 25th 2008 5:13PM

"Yeah you guys are really showing your not very mature or have never actually bought anything."

Yeah, you're right. I'm so immature. I should jump on the bandwagon to tell people to get a credit card so they can buy a PS3. Yeah, that’s super solid advice when so many people are having financial trouble. My job takes me into bankruptcy courts– so don’t act like I‘m too immature to get it. Do you go to those courts and see the people lined up crying about their credit cards?

Look at the situation in context here. It isn't that I said I don't believe people should get credit (or that I don't have/use any), but this doesn't look like the brightest reason for taking on new credit debt.

Sackolantern PSN ID: johnnynumber5 @ Nov 25th 2008 5:37PM

I guess if you were already going to buy a PS3 it's good incentive to get a credit card. I was talking abou tthe dont get a credit card at all advice more so than some stupid Sony credit card.

Don't be so sensitive Duke didn't mean anything by it. If it came off like that I'm sure sorry.

Captaintek3304 @ Nov 25th 2008 2:01PM

Now...my question is this...

If you take part in the Amazon voting deal and are lucky enough to get one of their PS3 bundles for $199, can you pay for that with this Sony card, and then theoretically get a PS3 for $50?

Wiinterfang @ Nov 25th 2008 2:18PM

or 49.99 to be exact :D

TwistedBishop @ Nov 25th 2008 2:00PM

Even though I took advantage of this offer back in September, I still find it a sad commentary on the price of the PS3.

D_Average @ Nov 25th 2008 2:58PM

I did the same thing myself. No regrets though, loving the system and the card earns me lots of points for future purchases. So if you want another credit card and a PS3 this one is a no brainer.

Stew @ Nov 25th 2008 3:02PM

Why? Even at full price, the PS3 is an insane bargain, at this price, you would have to be a rabid Xbot to ignore it.

Jeremy White @ Nov 25th 2008 2:00PM

I see this being bad for someone in the end.

Poke4Christ @ Nov 25th 2008 2:01PM

Reply to this post with any significant requirements like APR, purchasing minimums, fees, and time before allowed cancelation.

This keeps it up top so people will know.

copa @ Nov 25th 2008 2:39PM

Fee: No Annual Fee

APR: 16.9%

Other Terms and Conditions: You must honor Jack Tretton's financial obligation to pay $1,200 to anyone who can find a PS3 on store shelves.

Kspraydad @ Nov 26th 2008 12:51AM

No fee.

Purchase must be within 45 days of account opening.

Keep card in good standing and payoff within 12 mos = zero interest.

APR is actaully 10.99 not 16.99

Use of this card will grant you an extra year warranty if you register the purchase with Visa.

Paul @ Nov 25th 2008 2:09PM

I did this offer in September and it worked just fine. And there are no annual fees with the card. Though you don't have to do this deal towards a PS3. The deal was that you spend over $299 on anything in the store and get $150 back. So it could be a TV or something else. (Note: It took 2-3 weeks before the discount was applied to the credit card, though it applied before payment was due, so only owed the $250 [plus tax].)

Altairio @ Nov 25th 2008 2:16PM

Just fucking drop the price already. This is ridiculous.

D-5 @ Nov 25th 2008 2:17PM

Who's the intermediary company? I think the Sony Store Mastercard credit card goes through a company/bank called MBNA (Who have done questionable things to customers).

If all of you want a credit card, just go through your bank. A credit card in general is a hassle but it's less of a hassle if you just use your primary bank and deal with them.

primetime4 @ Nov 25th 2008 2:22PM

You make it sound as though MBNA is some kind of mom and pop bank. They are one of the largest credit issuers in america. Chances are they are already your bank.

Paul @ Nov 25th 2008 2:40PM

My Sony card was through Chase.

JCollum @ Nov 25th 2008 3:11PM

MBNA is a very respected bank, real stable. Also very selective about who'll they'll give a card to, as opposed to, well, everyone else.

Jack Tretton @ Nov 25th 2008 5:20PM

Bank of America owns MBNA, and has for at least a year. And, no, BoA is no great shakes either.

Chad @ Nov 25th 2008 2:19PM

I did this over the summer for $100. It was a great deal then & now. I managed to bundle it with the Wal-Mart $100 gift card offer to sweeten the deal. That was a glorious moment.

Kyle smith @ Nov 25th 2008 2:23PM

PS3 sucks Bawls

Vegeta (aka Ska Oreo) @ Nov 25th 2008 2:27PM

Really? Trolling? Did you honestly have nothing better to do then to say something that has absolutely nothing to do with the thread?

Kyle smith @ Nov 25th 2008 2:27PM

I like pancakes

Kyle smith @ Nov 25th 2008 2:33PM

ps3 would be better if it had runescape

JPN @ Nov 25th 2008 2:25PM

I did this last year and it was awesome. However, for my deal, I had to pay it off by a certain time or I was hit with a ton of back interest. I had to put the PS3 on the card. I did it, was approved, bought it all and I had to pay it off in like 6 months and it was same as cash. Awesome.

Marty @ Nov 25th 2008 2:44PM

Leaving something on your credit card for 6 months? By the time you've paid off all the interest over the course of half a year, you've probably put in enough money to buy two PS3's with no discount.

Good grief man, if you can't afford it, don't buy it. Simple as that. This is why our economy is broken.

TwistedBishop @ Nov 25th 2008 2:56PM

He's talking about deferred interest. He didn't pay any finance charges because he paid it off by a certain date.

Even if you didn't, a typical APR of 11-13% would in no way equal the cost of even 1 PS3 without the discount. At 11% you're talking about maybe $2.50 a month. Pay it off in 6 months and you've paid $15 interest to save $150.

That said, I totally agree about buying only what you can pay off quickly. Don't fall into credit traps and constantly live ahead of what you can afford.

Vcize @ Nov 25th 2008 3:24PM

Marty, I believe this card also came with either 6 or 12 months of 0% interest at the time, so by paying it off in 6 months he paid the same amount as if he had paid it off right away.

I do agree with you though, if you don't have the money to drop $400 on a PS3 and pay it off right then and there, you probably shouldn't be buying it on credit. It's one thing if you have plenty of money and are just using the 0% to spread out the payments and leave more to invest, but buying something other than a house or a car that you don't have the disposable income to pay off right then and there is a bigtime slippery slope.

Marty @ Nov 25th 2008 3:34PM

All good points guys, I think you were probably right about the deferred interest.

I must say though, TwistedBishop, I think $2.50 is a bit low, especially since another user above reported the interest rate for the card is 16%. If you buy a $399 PS3 and take off $150, you're left with $249 of debt. If you split that amount into equal payments over 6 months, you'd wrack up MUCH more than $2.50 a month in interest... maybe not enough to buy a couple of PS3's, but it'd be well over the $100 mark.