UPDATE 9/8/09: PLAYSTATION VISA Promo - Back to $100 credit instead of $300

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As of 9/8 - ONLY $100 CREDIT... NO MORE $200 EXTRA CREDIT..

A NEW PLAYSTATION VISA PROMO - UPDATED 8/28/09

YOU DO HAVE TO MAKE THE 1ST PURCHASE OF $ 299 OR MORE FROM SONYSTLE.COM "ONLY" THIS TIME.

3 x $ 100 Statement Credit within 6 months.

1st - $ 100 instantly
2nd - $ 100 after charging $ 1500 to the card within 3 months of card opening
3rd - $ 100 after charging another $ 1500 to the card within 6 months of card opening
Total = $ 300 off after charging $ 3299 = 9% cash back + Reward Points. The best offer from a credit card at the moment or ever.

THIS IS A REGULAR VISA CREDIT CARD with Playstation brand on it. So if you already use your current CC for everyday purchases; such as Gas, Groceries, Phone, Cable etc. Just use this Playstation card until it hits $3000 + $400 for the PS3 within 6 months, collect the $300 off. Don't forget to pay it in full (at the very least by the end of 12 months since it's interest free for 12 months.) THEN YOU CAN KEEP USING THIS CARD TO COLLECT SONY POINTS OR GO BACK TO YOUR OLD CC.

THIS PROMO WORKS BEST FOR "RESPONSIBLE" PEOPLE WHO TAKE ADVANTAGE OF CREDIT CARD COMPANY (GETTING PAID FOR BORROWING INTEREST FREE MONEY FOR AT LEAST 30 DAYS EVERY MONTH) AND USE THE CC FOR EVERYDAY PURCHASES TO MAXIMIZE THE BENEFIT.


PS3 = $ 299.99 - $ 300 - Reward Point Statement Credit = FREE + $$$.


http://www.us.playstation.com/PSN/Events/PlaystationCreditCard/index.html

Get up to $300 back with the PlayStation® Card

SPECIAL OFFER: Apply now for the PlayStation® Card, get instantly approved and get $100 card credit when you purchase a PlayStation®3 system with your new PlayStation® Card.1

BONUS OFFER: Use your PlayStation® Card on your everyday purchases, spend an additional $3,000 or more and qualify for an extra $200 card credits.1
Every time you use the PlayStation® Card - whether it's on digital goods and subscriptions at PlayStation®3 Home, or on everyday purchases like groceries, gasoline or dining - you'll earn valuable Sony Rewards Points redeemable towards the latest Sony products such as: PlayStation® games, Blu-ray Disc™ movies, Sony electronics and much more!2

Terms and Conditions
1. Your first single sales receipt of any products or services purchase(s) made at SonyStyle.com only, equal or greater than $299 ("Qualifying Purchase") within the first 45 days your account is open will automatically qualify you for the first $100 Statement Credit. The first $100 card credit will be applied to your PlayStation® Card account 8-12 weeks after your Special or Qualifying Purchase (Qualifying Purchase does not include balance transfer or balance transfer checks) account must be open and not in default at the time of fulfillment. You will qualify for a second $100 card credit when you charge to your PlayStation® Card account an additional $1,500 within the first 3 months of account open date. You will qualify for a third $100 card credit when you charge to your PlayStation® Card account an additional $1,500 by your 6 month anniversary. Limit of three (3) $100 card credits to each new PlayStation® Card account, after each qualifying spend limit is met within the specified timeframes described above. This offer may not be combined with any other Sony Card or PlayStation® Card offer. In some instances an application may require additional processing, in which case Instant Credit will be unavailable. When you are approved for the PlayStation® Card, you will receive your account and CVV2 number and expiration date on-screen. Please make sure to make note of your account and CVV2 number and expiration date as this information will not be available until you receive your card in the mail. If you are approved, you will be able to make a one-time purchase at SonyRewards.com only, with up to a maximum line of credit of $5,000. Additional purchases with this account cannot be made until your card is received in the mail. This promotional offer is available for new PlayStation® Card account holders only; existing PlayStation® Card account holders or accounts are not eligible. Accounts subject to credit approval. Restrictions and limitations apply. PlayStation® Card credit cards are issued by Chase Bank USA, N.A. See Pricing and rewards for details.
2. You will earn 5 points for each $1 of net purchases made with your Sony Card at Sony Style stores and www.sonystyle.com. You will earn 1 point for each $1 of all other net purchases made with your Sony Card. Purchases of Sony products made at any authorized Sony retailer that earn 1 point for each $1 spent (excluding www.sony.com/playstationcard) are eligible for an additional 2 points from Sony Electronics, Inc. Please visit www.sony.com/playstationcard for more details. Sony Electronics, Inc. is wholly responsible for fulfillment of 2 bonus points. You do not earn points on balance transfers, cash advances, any checks that are used to access your account, overdraft advances, travelers checks, interest, unauthorized or fraudulent charges, or fees of any kind, including fees for products that protect or insure the balances of your account. See Rewards Program Rules and Regulations which will be mailed after your account is established.
 
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[quote name='ZForce915']I wouldn't spend $99 on a PS3 if it were on store shelves.[/QUOTE]
That makes you insane in my opinion :)
 
Too bad I already have a PS3. If you spend more than $500 on your cc every month and pay it off right away it's a good deal. A much higher return vs normal reward or cashback cards.
 
[quote name='62t']I dont know why everyone is saying this is a bad deal. I easily spent more than $500 a month and would jump in if I dont already have a PS3[/QUOTE]

QFT, I use credit cards almost exclusively... I can spend that type of money without even trying... but as I am also very anal about my credit scores (my highest out of the three agencies is 840 out of 850), I wouldnt do this as I have 4 very well established credit cards and wouldnt need another...
 
I would get this if I actually spent 500 dollars a month on things I could put on a credit card. Which I don't even think I spend that much though. Cable, cell phone bill, groceries I only spend like 300 on. If I do electric then thats like another 100. Doesn't feel like worth the trouble though.
 
[quote name='zman73']QFT, I use credit cards almost exclusively... I can spend that type of money without even trying... but as I am also very anal about my credit scores (my highest out of the three agencies is 840 out of 850), I wouldnt do this as I have 4 very well established credit cards and wouldnt need another...[/QUOTE]
840?!?!? Nice work, my highest is like 760.
 
I'm going to have to read the thread and the fine print...
I put $1500-2000 on my CC every month and pay the entire balance off...
I already have a PS3 though I don't want another one right now.
 
[quote name='jooanyenna']That's the only way to do it w/ credit cards.
I make everyday purchase and pay all my bills with my 2% cash reward card and pay them off every billing cycle(I hate paying interest more than anything.)
I spend about 15k a year with my current CC and usually end up getting about $300 back, which is not too bad.

With this sony card,
Spending 3K and get $200 back = 6.66% cash rebate (and you get it back in 6 mo)

Well, it's three times plus better than the cash reward card I normally use.

I'd better bite this one.[/quote]

I did my math wrong.
It's actually,
Spend $3399 and get $300 back = 8.83% cash rebate
(and you get it back in 6 months, unlike my CC which sends me the rebate check in Feb. every year.)
 
[quote name='MSI Magus'][quote name='berzirk']

So in other words its a bad deal if your an idiot that spends money you dont have.[/quote]

mmmm no I pay off my entire balance every month and don't get charged a nickel interest
 
[quote name='ninja dog']only $3399 for a PS3! Deal of the Year![/QUOTE]

Boy, some people just don't get it I guess.
 
[quote name='sobjw']Boy, some people just don't get it I guess.[/QUOTE]

well, do you not have to spend that much to get the PS3?


(I do get it. I'm just being a smart ass.) but still, if this stays, then so do posts for Wii systems and Wii fit in stock.
 
The PS3 is gonna be 299.99 the end of Feb. anyways, so you are only saving an extra 100 bucks and have to spend another 3k. Laughable deal for anybody goofy enough to bite on this one.
 
[quote name='MattVid']*Scratches head*, how is this a bad deal?

For those that are not 12 years old, there are bills to pay every month, no matter what. Apartment rent, phone/cell bills, internet/cable bills, heat, electricity, water, food (you probably spend $200-400 on food a month easily).

This is a credit card, you can charge anything to it. $1500 in 3 months? Lol, I spend this much in one month just on living costs/food/whatever stuff I buy. If you spend less than $1500 in a 3-month period to survive, on your own, I would like to know where you are living. Wake up people, this is basically like getting 30,000 points on a normal credit card (for which you have to spend $30,000 to get) ... this is far from a "bad deal".[/quote]


Well I'm an adult, never do I pay my monthly bills via CC, all by check or direct deposit. But you cant say IMO, that this deal isnt silly. Some adults realize using a CC for everything really isnt the way to go....
 
[quote name='ninja dog']well, do you not have to spend that much to get the PS3? [/quote]

You only will have to spend $399 to get the PS3(80GB). Nobody will twist you arm to spend next $3000 within 6 months just to get that PS3.
Oh actually, it's $299 because they will give you $100 statement credit whether you spend another dime or not.
 
[quote name='MIX_MASTER_ICE']The PS3 is gonna be 299.99 the end of Feb. anyways, so you are only saving an extra 100 bucks and have to spend another 3k. Laughable deal for anybody goofy enough to bite on this one.[/quote]


is this 'feb' price drop confirmed...? people are speculating MAYBE april. but i doubt feb, unless you have proof then apologies in advance.

i think its a pretty good deal. ill be buying plane tickets to japan for myself and wife, so thats about $1600, also planning on buying a 52" samsung lcd which would fulfill the 6 month spending minimum for the full cash back. CC are always paid off monthly, and was planning on buying place tickets and tv with cash/debit so like Law_Professor said, its like a free loan, yes credit will be dinged for the credit check but its in the high 700's so im not too worried.
 
[quote name='Law_Professor']It's not DEBT! You just have to pay off the credit card each month. If you do so, you aren't accumulating debt or paying any interest rates. Hell, it's like a free loan! It's not encouraging you to spend that much on frivolous things... Rather, you can pay your living expenses with the card and then pay them off like you normally would.

I put everything on a credit card. Utilities, gas, car insurance, etc. Then I pay it off at the end of the month. I earn cash back rewards as a result.

So all in all, this really IS a good deal.

Too bad I don't want the hard inquiry (or a new line of credit) on my credit report. It MAY raise a red flag with your other creditors if you're applying for credit during a recession like this.[/quote]

$ on CC = debt until you pay it off.

I also pay bills and such on CC and pay it off before any interest accrues, but (thankfully) I don't have the kind of bills to justify this offer.

Also for the PS3 price drop, the only thing not confirmed is the date it goes into effect. :p
 
[quote name='MIX_MASTER_ICE']The PS3 is gonna be 299.99 the end of Feb. anyways, [/quote]

Please add a link or verify the source of your claim.
 
[quote name='duhdude']Well I'm an adult, never do I pay my monthly bills via CC, all by check or direct deposit. But you cant say IMO, that this deal isnt silly. Some adults realize using a CC for everything really isnt the way to go....[/QUOTE]

If you can pay it off every month, why isn't it the way to go? I never consider my credit card as money that wasn't spent, and since I earn anywhere between 1 and 3 % back on all of my purchases (and have never once paid a dime of interest), it seems much smarter to use my credit card than to use a check card/etc. If you average 10k spent over the course of the year, even a 1% return puts an extra $100 in your pocket that you wouldn't have had using your debit card. Again, using a credit card when you don't have the money (or to spend more money than you should) is stupid, but using it on purchases that you would have made anyway in order to receive a small % in return and never paying interest (not to mention the fact that your money can earn a small amount of interest for the extra month that it sits in the bank) seems like a better idea than spending the same money and receiving no benefit.
 
[quote name='gunm']$ on CC = debt until you pay it off.

I also pay bills and such on CC and pay it off before any interest accrues, but (thankfully) I don't have the kind of bills to justify this offer.

Also for the PS3 price drop, the only thing not confirmed is the date it goes into effect. :p[/quote]

Totally idiot way of framing it.
 
[quote name='jooanyenna']I did my math wrong.
It's actually,
Spend $3399 and get $300 back = 8.83% cash rebate
(and you get it back in 6 months, unlike my CC which sends me the rebate check in Feb. every year.)[/quote]
Wait, maybe I misunderstood. Are you sure the $399 for the PS3 DOESN'T count towards the $3000?

EDIT: N/M I guess the $399 for the PS3 doesn't count towards the $3000: " You will qualify for a second $100 card credit when you charge to your PlayStation Card account an additional $1,500 within the first 3 months of account open date."
 
I can see how this would be a bad deal for some people, like the people who wouldn't pay off their card each and every month.

For someone like myself however this is really quite ideal. I'm planning on purchasing a PS3 in the next week. I regularly spend over $500 per month on cable/internet/food/etc. that I can easliy put on the credit card and pay off at the end of each month. With some patience I save $300 on the PS3.

I'm quite surprised by the seemingly high number of responses from people who don't seem to understand how a credit card works.
 
[quote name='Pengwyns']I can see how this would be a bad deal for some people, like the people who wouldn't pay off their card each and every month.

For someone like myself however this is really quite ideal. I'm planning on purchasing a PS3 in the next week. I regularly spend over $500 per month on cable/internet/food/etc. that I can easliy put on the credit card and pay off at the end of each month. With some patience I save $300 on the PS3.

I'm quite surprised by the seemingly high number of responses from people who don't seem to understand how a credit card works.[/QUOTE]

We have a winner.

Put it like this:
TV - $80
Internet - $50
Phone - $35
Insurance - $120
Water - $50
Electricity - $75
N Gas - $70
Gas - $80

That's $560 right there, and that's not incurring any additional debt. Paying your bills with your credit card, then two days later paying your credit card is not increasing your debt people.
 
Is there any rewards for the card or only this credit?

And there is a reason you use your credit to pay bills. (You still immediately pay them off) But now you also get rewards points or cash back if you pay with the credit. In the end you save more money (of course this is if you pay it back immediately).

As for this card it doesn't seem like it has any rewards or cash back for it. So I don't think that's too good.
 
Also to the people talking about a $100 price drop in the coming months you need to realize this deal is for a $100 PS3 not $300 or even $200. $100 PS3 beats the hell out of $300. Again the deal is $100 back after buying the PS3, $100 after spending $1,500 over several months and then a final $100 off after another 3 months for a total of $300 back on your $400 purchase.
 
[quote name='gunm']For $3K worth of debt, I'd expect at least a 46" 1080p Bravia, a PS3, and a bunch of games for free.

Oh wait, you could buy all that for $3K plus and still have money left over for other things. >_
 
This is a crappy deal for fools who will outspend what they normally spend just to make the $500 mark each month. But for those who spend $500 on "normal expenses," it is actually a very good deal. I spend $250 (parking, gas, MetroCard) on my commute to work in NYC, $50 goes to my phone bill, $90 on a gym membership, and the remaining $100 is easily spent when I go out to eat or drink.

So I'm basically paid $300 to use their card on things I would already be spending money on in the first place.
 
[quote name='duhdude']Well I'm an adult, never do I pay my monthly bills via CC, all by check or direct deposit. But you cant say IMO, that this deal isnt silly. Some adults realize using a CC for everything really isnt the way to go....[/quote]

:bomb:

And why not? I put every single purchase/expense I have on credit. Then I pay it off immediately after I receive the statement (or sooner). I get Thank You Network points from Citi, and cash back from Chase on every single dollar I spend.

I come out on top, EARNING money and gift cards in the process. I've never paid a credit card company any interest. My credit scores across all three bureaus is right around ~730.

Care to explain why this is a bad idea?
 
[quote name='lorddct']Is there any rewards for the card or only this credit?

As for this card it doesn't seem like it has any rewards or cash back for it. So I don't think that's too good.[/quote]

I believe there is always the Sony Reward point, which gives you 5% for Sonystyle purchase, 3% Sony purchases and 1% anything else.

[quote name='zzl365']The only real negative I see here is that if you really don't need a credit card, you may be hurting your credit score to save $300.[/quote]

If you're not planning to buy a house, or $ 100k car within 6 months. $300 is worth more than few points of your credit score. You'll get your point back after 6 months anyway, considering that you never miss a payment.
 
LOL at all the little kiddie's who don't spend more than $100 a month on things because they still live under the umbrella of mommy and daddy.
 
this deal is horrible....only if you were spending that much money anyways, i can see maybe that is worth it, but in the state were in right now with our economy, who spends that much @_@
 
[quote name='zman73']QFT, I use credit cards almost exclusively... I can spend that type of money without even trying... but as I am also very anal about my credit scores (my highest out of the three agencies is 840 out of 850), I wouldnt do this as I have 4 very well established credit cards and wouldnt need another...[/quote]

What keeps you from getting perfect 850?
(I also have well above 800 points even though I have never paid too much attention to my score)
 
[quote name='bigl523']LOL at all the little kiddie's who don't spend more than $100 a month on things because they still live under the umbrella of mommy and daddy.[/quote]
I sometimes miss that umbrella. ;)
 
[quote name='antlp89']I wonder if you can pay tuition with the card...I drop almost 3 grand per quarter on tuition at my school...[/quote]

Most schools do accept CC for tuition. If you charge $3000 for your tuition, you don't even have to charge another dime for next 6 months and you will enjoy your $99 PS3. Wow.
 
[quote name='jooanyenna']Most schools do accept CC for tuition. If you charge $3000 for your tuition, you don't even have to charge another dime for next 6 months and you will enjoy your $99 PS3. Wow.[/quote]


Many also charge a "convenience charge" if you pay the tuition with a credit card.
 
[quote name='Squarehard']this deal is horrible....only if you were spending that much money anyways, i can see maybe that is worth it, but in the state were in right now with our economy, who spends that much @_@[/QUOTE]

You can't read, can you?
 
The only reason people do consider this a bad deal is because MOST people don't actually pay off their debt or credit card bill right away. They usually pay the minimum. Plus, if they experience an emergency, that'll set them back.

The percentage of individuals that actually pay off their credit card debt on time every month so no interest accrues is well below the 10% of the 100% of people that use credit cards. I applaud those that can and do pay on time, because if you don't your actually spending more for the PS3 or anything in the long run with that accrued interest.

In fact, check this out: I watched it and it's actually quite informing on how Credit Cards REALLY work.
http://www.pbs.org/wgbh/pages/frontline/shows/credit/
 
[quote name='Squarehard']this deal is horrible....only if you were spending that much money anyways, i can see maybe that is worth it, but in the state were in right now with our economy, who spends that much @_@[/quote]

People who own a house, cars, and have children spend that much. Its really not that much a month when you start to add up all the bills and entertainment costs every month. My kids activities sit around $400 a month for music/dance/karate/gymnastics. I charge all of them for the rewards and pay them off the following month before getting hit with the interest.
 
buy $1500 in dollar coins from the mint. take them to your bank and cash them out. simple, 100% legal.
 
Let's just all agree that some people can benefit from this deal and some can't.


And way to "frame" yourself with some useless non-contributing post singling me out--you know who you are. Just love it when the lurking newbs talk trash but don't contribute anything useful to the site.
 
people who just pay the minimum on their credit card bills only know the word debt.. just pay off your credit cards in full like the few smart people and its not 3300 in debt-- it is paying your bills on time like the people with good credit
 
fuck is this Sony? Drop the price on the damn system instead of using these ploys to get people to open more Credit just to get some money off.
 
Okay, lets put it this way--

Wii system or Wii Fit goes in stock after being tough to find forever = not a deal, everybody pile on to the OP.

Sony offers a PS3 after you spend $3299 and start a new credit line = omg just open a new credit line and pay off your CC bill every month, this is totally an awesome deal, brah, and if you complain about this deal you are poor, irresponsible, and don't understand how credit works.

Good job cag. Stay classy :lol:

I think they should both stay open...but by the standard this site usually sticks to, this is really not a deal at all.
 
[quote name='Squarehard']this deal is horrible....only if you were spending that much money anyways, i can see maybe that is worth it, but in the state were in right now with our economy, who spends that much @_@[/quote]

just about everyone with a job that is over the age of 23.

$500/a month is only $6000/year. the median (average) salary in the usa is right around $30000/year. 6% of the nation is homeless. so that leaves around 180,000,000 - 200,000,000 people that are making an average of $30000/year. and you dont think these people spend $6000/a year because the economy is down?
 
[quote name='ninja dog']Okay, lets put it this way--

Wii system or Wii Fit goes in stock after being tough to find forever = not a deal, everybody pile on to the OP.

Sony offers a PS3 after you spend $3299 and start a new credit line = omg just open a new credit line and pay off your CC bill every month, this is totally an awesome deal, brah, and if you complain about this deal you are poor, irresponsible, and don't understand how credit works.

Good job cag. Stay classy :lol:

I think they should both stay open...but by the standard this site usually sticks to, this is really not a deal at all.
[/quote]

Hmmm, not for nothing, but the first few posts after the OP are ones bashing this deal. Are they anymore "classy" than the people who complain about Wiis being in stock? Come on. The reality is, this isn't a terrible, assuming you were already looking to potentially open a new line of credit.
 
[quote name='ninja dog']Okay, lets put it this way--

Wii system or Wii Fit goes in stock after being tough to find forever = not a deal, everybody pile on to the OP.

Sony offers a PS3 after you spend $3299 and start a new credit line = omg just open a new credit line and pay off your CC bill every month, this is totally an awesome deal, brah, and if you complain about this deal you are poor, irresponsible, and don't understand how credit works.

Good job cag. Stay classy :lol: [/quote]

Absolutely right!!!!!(even though you probably said this w/ a bit of sarcasm.)
 
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