10x points on ALL PlayStation Network purchases
($20 PSN purchase only gets you about $2 back...)
3x points on ALL PlayStation and Sony purchases at Sony stores and Sony.com
(3% back + tax on top of paying MSRP..., even the Sony card gives 5% back)
3x points at quick service restaurants, movie theaters and on your mobile phone bill
(US Bank's 5% cashback
1x points on all other purchases
I also dislike rewards in points cause they can devalue the points at any time without adjusting the reward rate. They even wrote this in fine print on the bottom of the PS+ and $50 PSN card offer page.
The number of Sony Rewards points required for merchandise in this page is subject to change without notice.
For Example, 5,000 points gets you a $50 PSN card but if capital one feels cheap they can raise it to where you require 6,000 points to get a $50 PSN card. That is why I always go with cashback rewards card cause they need to notify you 30 days in advance if they are going to reduce the cashback rate. They don't need to do that with points cause your still getting 10X points with PSN, 3X points on Sony purchases, etc... The heads up notification with cashback cards will at least give you time to cash out now before your rewards value plummets, you can't do that with reward points.