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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the sony card had that similar term and they allowed use only in sony stores or sonystyles-I actually tried to call them but can't seem to connect me to a right person who would be able to explain how that first 100 work-but nonetheless, treated as a card that'll give you 200 for 3000 , that's about a general 6.6% (or if you want to be picky, 200 for 3300 for a 6% ish) rebate-I don't suppose anybody can really beat that
 
I may go for this, not to get a PS3 but just because it is a decent offer. I charge.....and then pay off every month....about $2000 a month to cover my personal monthly expenses + several recurring expenses for my business.
 
[quote name='nydoofus']Any chance of combining this deal with the current Dell $316 PS3? I noticed in the footnote, it just says the first $299 purchase gets you the credit.[/quote]

first 299 purchase at sonystyle gets you the credit

also some people are reading the terms wrong.

Month 1-3 you need to spend 1500
Month 4-6 you need to spend an additional 1500

You cannot just load the card with 3k in month 1.

cheers
 
[quote name='Glavin']first 299 purchase at sonystyle gets you the credit

also some people are reading the terms wrong.

Month 1-3 you need to spend 1500
Month 4-6 you need to spend an additional 1500

You cannot just load the card with 3k in month 1.

cheers[/QUOTE]


"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 of your account open date."
 
[quote name='Glavin']first 299 purchase at sonystyle gets you the credit

also some people are reading the terms wrong.

Month 1-3 you need to spend 1500
Month 4-6 you need to spend an additional 1500

You cannot just load the card with 3k in month 1.

cheers[/QUOTE]
Yes you can :). I think that's what the post below yours is trying to say... but they're being coy ;).
 
[quote name='colt4by5']Yes you can :). I think that's what the post below yours is trying to say... but they're being coy ;).[/quote]

I stand corrected
 
[quote name='Pengwyns']From SonyStyle.com there is free shipping and tax for me will be $27. I think it may also be worth mentioning that all SonyStyle purchases get 5% rewards, which in effect cancels out almost all the tax. By doing some of the daily questions and getting free rewards points I'll be scoring a Dual Shock 3 for free from rewards after the points are added to my account for the PS3 purchase.

Long story short, I think if you plan on taking advantage of the Sony Rewards site, then tax is basically negliable.[/quote]

Would you mind explaining how the rewards work exactly?

I just signed up for this offer and put in my order for an 80gig system last nite. I have been putting every purchase I can on my Starwood AmEx card. We get a point for every dollar and then 10k or so points gets you a free night at W, Sheradon, Wyndam, St. Regis hotels, etc. We haven't paid for a hotel room in the past several years.

But I digress....now I'll just switch over to this card until I hit the $3k mark.. Won't be tough at all. Worst part is waiting for the card to arrive. I'm buying stuff left and right and just wish I could start using the new card.
 
I signed up for this promo a few weeks ago and purchased the PS3 through Sony Style. I didn't want to take any chances purchasing it elsewhere and losing the $100 credit. Should only take me a couple of months to get $3000 in charges too since I put everything on my credit cards (and pay them off each month, of course).

I already got a free Blu-Ray remote through the Rewards web site too. amheck, check the Sony Rewards thread for the details.
 
Do you have to buy a PS3 to get the first $100 credit? The fine print says

Your first single sales receipt purchase equal or greater than $299 ("Qualifying Purchase") must be made by 3/31/09 and will automatically qualify you for a first $100 Statement Credit.
Click to expand...

According to that you could put ANYTHING on the card for at least $299 and it would qualify - which in itself is an awesome deal. 33% off anything you like, anyone?
 
Oh god, it just gets more confusing. I just received my card in the mail today. I called to activate and asked the rep if I had to buy my PS3 at sonystyle.com or a Sony store, and she said NO on BOTH items. In fact, she said I could get the PS3 or other item anywhere... not just a Authorized Sony Dealer. She even talked to a manager about it. I told her I had already called beforehand and the rep said it had to be a PS3 from sonystyle or a Sony store, but she then said that the terms vary for each person and she was 100% sure that she was correct. So, now comes the dilemma... be safe and buy from a Sony store or take my chances and get the current deal at Dell? I think I'll probably call back one more time... and probably get a different answer.
 
[quote name='colt4by5']Oh god, it just gets more confusing. I just received my card in the mail today. I called to activate and asked the rep if I had to buy my PS3 at sonystyle.com or a Sony store, and she said NO on BOTH items. In fact, she said I could get the PS3 or other item anywhere... not just a Authorized Sony Dealer. She even talked to a manager about it. I told her I had already called beforehand and the rep said it had to be a PS3 from sonystyle or a Sony store, but she then said that the terms vary for each person and she was 100% sure that she was correct. So, now comes the dilemma... be safe and buy from a Sony store or take my chances and get the current deal at Dell? I think I'll probably call back one more time... and probably get a different answer.[/quote]

If you can, report back what happens. I'm about to buy some new audio equipment in excess of $3000 so $300 back would be an insentive. Otherwise i could care less. Does me no good if im forced to buy $400 worth of stuff i dont want in order to activate the promotion.
 
Not sure what 'qualifying purchase' means. My initial take was that you get a PS3 from sonystyle by the end of march, then the remaining $200 is just credited to your account. I'm not so sure now.


As far as the whole credit card vs. cash things goes - I've been using my GM card, getting 5% of all sales going into the reward, for over 15 years. I put everything possible I can on it (and pay it off every month of course). Hasn't cost me a thing in 15 years. So far, I used it with one car purchase, saved me $1600. Added my mom to the account, and she used it on a car purchase - saved her $1800. And I've got a chunk of change on there now if anyone in my family wants a GM (or a toyota with GM cloths of course). If you use CCards right, they put money in your pocket. I HATE dept. The only dept I carry is my house loan. The only people I know that are repulsed by CCards are people who can't seem to use them correctly - but I'm sure there are exceptions.
 
One more thing - if it turns out you can buy anywhere, I will be buying from someplace like Walmart where you can return it if the price drops in April (like many sites are speculating). That means a free PS3 :)

Also - no offense intended to anyone in my last post. I can be a bit course at times.
 
Once again. You have to spend 299 or more at SonyStyle for this to work. And yes you get 100 off that 299. So no you don't have to buy a ps3 but they are banking on that you do.
 
For some this isn't massive debt, it's probably normal money spent over a few months. However, for me, this would be massive, at least by my normal spending habits. If i were buying a few guns, or a computer or even a car (i paid for half of my last car on a credit card lol, cheap car, and 0% interest during card promo period = financing win) i would be totally down for this "deal".


It's nice if you're already spending around this much... bad if you don't.

(also, most of the people here try to AVOID spending lots of money, hence them being such CheapAss Gamers.)
 
[quote name='colt4by5']Oh god, it just gets more confusing. I just received my card in the mail today. I called to activate and asked the rep if I had to buy my PS3 at sonystyle.com or a Sony store, and she said NO on BOTH items. In fact, she said I could get the PS3 or other item anywhere... not just a Authorized Sony Dealer. She even talked to a manager about it. I told her I had already called beforehand and the rep said it had to be a PS3 from sonystyle or a Sony store, but she then said that the terms vary for each person and she was 100% sure that she was correct. So, now comes the dilemma... be safe and buy from a Sony store or take my chances and get the current deal at Dell? I think I'll probably call back one more time... and probably get a different answer.[/quote]

I'd like to put an end to all this speculation about whether or not the qualifying purchase has to be made through SonyStyle or not. Recently I've been greeted with a more detailed version of the offer whenever I log into the Sony Rewards website. Note that in this version of the terms it clearly says the qualifying purchase must be made at a Sony Style store or at SonyStyle.com. Only links to qualifying purchases are for the Uncharted bundle or the 80GB PS3. Hope this clears up some of the confusion.

CLICK FOR PDF
 
[quote name='Pengwyns']I'd like to put an end to all this speculation about whether or not the qualifying purchase has to be made through SonyStyle or not. Recently I've been greeted with a more detailed version of the offer whenever I log into the Sony Rewards website. Note that in this version of the terms it clearly says the qualifying purchase must be made at a Sony Style store or at SonyStyle.com. Only links to qualifying purchases are for the Uncharted bundle or the 80GB PS3. Hope this clears up some of the confusion.

CLICK FOR PDF[/QUOTE]
Sorry, but I don't see where it clearly says that qualifying purchases must be made at sonystyle.com or a Sony store :). In (1), it says that a purchase of $299 or greater will get you the $100 credit. In (2), it says that purchases at sonystyle.com or a Sony store will get you deferred interest. Those seem like separate items. Am I missing something?
 
[quote name='colt4by5']Sorry, but I don't see where it clearly says that qualifying purchases must be made at sonystyle.com or a Sony store :). In (1), it says that a purchase of $299 or greater will get you the $100 credit. In (2), it says that purchases at sonystyle.com or a Sony store will get you deferred interest. Those seem like separate items. Am I missing something?[/quote]

I guess you're correct. Reading comprehension is not my friend sometimes :). I'll just mention that I've verified with the Chase people on three separate occasions that the qualifying purchase must be made at a Sony Style store. Here's one except from a support inquiry.

Date:01-15-2009 11:44:57
From:Credit Card Support
Subject:Re: Rewards Inquiry Message:

Dear:

Thank you for your recent inquiry about your Sony credit card account.

Our records indicate that you have a promotional offer of a $100.00 statement credit if you make a purchase of $299.00 or more at a Sony store or a Sony website within 45 days of your account open date. Unfortunately, authorized Sony dealers are not included in this offer.

If you have any further questions, please reply using the Secure Message Center.

Thank you,
Tim Moeller
E-mail Customer Service Representative
Click to expand...
I'd certainly prefer to order a PS3 from Amazon and save on tax, but I also don't want to get burned. The amount of conflicting information is a bit scary. Hence when I order my PS3 later in the week I'm going to take the safe route and order from SonyStyle.com.
 
[quote name='Pengwyns']I guess you're correct. Reading comprehension is not my friend sometimes :). I'll just mention that I've verified with the Chase people on three separate occasions that the qualifying purchase must be made at a Sony Style store. Here's one except from a support inquiry.


I'd certainly prefer to order a PS3 from Amazon and save on tax, but I also don't want to get burned. The amount of conflicting information is a bit scary. Hence when I order my PS3 later in the week I'm going to take the safe route and order from SonyStyle.com.[/QUOTE]
Yeah, the promo is written horribly. I have also called Sony and Chase... twice before I got the card and now twice after I got the card. The first 2 times, they said I needed to buy from Sony. The 3rd time they said I can buy anywhere. The 4th time (this morning), they first said anywhere, and then she found some other screen that seemed to indicate only from Sony. So, I think I'll play it safe and buy from Sony. I think you may be able to argue your way into buying from anywhere, but it's probably not worth the hassle. Thanks for the email you posted though.
 
I can see how the CSR can be confused also, because with prior promo ($ 50 - $ 150 off), you can buy from any authorized dealer and now you probably can't. It's probably best to buy from SonyStyle to get the $100, and if you worry about the tax, the 5% reward will take care most of it anyway.

Once the PS3 purchase is showing in your statement, you can go to the credit card or reward website and apply for that point to be converted to a statement credit. Mine is done in the same billing cycle, so they're pretty quick. But it also depends on your billing cycle end date.
 
[quote name='gi60']I can see how the CSR can be confused also, because with prior promo ($ 50 - $ 150 off), you can buy from any authorized dealer and now you probably can't. It's probably best to buy from SonyStyle to get the $100, and if you worry about the tax, the 5% reward will take care most of it anyway.[/QUOTE]
It's not really the tax I'm worried about... it's the $316 PS3 at Dell right now that I'd love to jump on with this card :cry:.
 
Let's just put it this way: this is a great deal for a PS3 for at least 95% of people who use credit cards and pay balance in full every month. PERIOD. People saying this is crappy deal because of that $3000 in 6 months number are either stupid or never really planning/budgeting/knowing how much they spent monthly. Yes the economy is bad, but do the grocery stores offer free bread and milk? do the cable company offer free internet service? do the theater offer free shows? do gamestop give free games? If you think the answers are NO, then think about how much you spend for food/drink/gas/cable/insurance/phone and all others. I can't imagine you spend $500 or less.

[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]
 
I just spent time reading all the comments and decided to summarize for those who don't want to:

Bad Deal: If you don't already charge at least $500 on your credit card monthly.

Good Deal: If you do already charge at least $500 on your credit card monthly. You essentially get a PS3 for $99 (80GB) or $199 (for the 160GB) for doing what you would anyways.

The card has 0% interest for the first 12 months so you do not have to pay for it in full since you won't get charged interest. In fact, you should leave a $100 balance on your card by 6th or 7th month so the credit can be applied to it and then you won't have any balance at all (assuming you paid everything else).

You do have to buy from SonyStyle.com and verified by a rep. The rep also verified that the qualifying purchase was either the 80GB or 160GB PS3:
Apply now for the PlayStation® Card, be instantly approved and for a limited time receive a $100 card credit when you purchase a PLAYSTATION®3 system at SonyStyle.com

I wasn't planning on buying a PS3 any time soon but this seems to be to good to pass up. I will be applying and hope I get approved. There shouldn't be any reason for me to be denied as my credit rating is above 700.

Good luck to those who apply.
 
[quote name='hORRIDO2']Just curious - what cards give a better return? This PS3 Visa gives a 10% return, plus the Sony points.[/quote]

10% off what?
 
Not a bad deal, but seriously too much hassle for me, plus I absolutely hate being told where to shop. It makes sense with the current deal that you'd buy direct from Sony, but they should make it more clear that it's $99+tax direct from Sony and not just a "buy a PS3 and we'll send you $300 back" type thing.

The other hassle for me is adding yet another credit card to my pile. I keep all my CCs paid in full, but you're not supposed to close a CC once opened because it hurts your credit score, which is absolute bullshit. If it's got a 0 balance, there should be an EASY way to cancel without it hurting your credit score. I personally think the CC companies set it up this way to discourage people from cancelling cards.

For the kids:

If you're closing a credit card, you first need to get a raise on other cards you're keeping so you maintain the same credit ratio.

Example: Say you have 3 credit cards, One with a $2,000 limit, one with a $1,000 limit, one with a $500 limit. Say you want to get down to just one card. First, see if you can bump up your credit limit on the card you opened first to at least $3500. If so, you can shut down the other two cards right away after doing that. It's about maintaining the same amount of total credit across all cards that keeps your credit score basically intact when closing cards.

It's best to not close your first credit card or your oldest credit card. That's your oldest line of credit and they take that longevity into account.
 
Note: This model will not play PlayStation® 2 games, but is backwards compatible with PS one™ games
Click to expand...

Bah i was almost going to do this but this is a deal breaker for me :cry:

If you work it right it sounds like its a good deal if that is not a deal breaker for you
 
[quote name='PhrostByte']10% off what?[/quote]

$ 300 from $ 3400.. almost 10%, not including 5% statement credit from the 1st $400 and a minimum of 1% from the next $ 3000.

Edit: I have nothing to do at work, so here's the breakdown.

$ 300 credit from $ 3400
$ 20 credit from 1st $ 400 (PS3 - 5% reward)
$ 30 credit from the next $ 3000 (1% reward for everyday purchase)

= $ 350 / $ 3400 = 10.29 % Cash Back. It's hard to beat.

Well, I just remember that Amex Reward Gold Plus is offering me a 25,000 Amex Point for opening their gold card ($ 150 annual fee is waived for the 1st year) and charge $ 1000 in its card in a month. That's a sligthly better deals but this Amex carry annual fee.

For the last time, those of you who afraid opening and closing credit card will hurt your credit score. It will but not by much. I'm the guy who open and close credit card if a cc is offering me $100 bonus for nothing. During the time when people's credit limit is being cut in half and no new credit is offered, my credit limit actually gets an automatic increase and keep getting offer from high quality card. Just close that new cc after you get the bonus, and keep your old cc open and in good standing. I always paid in full by the way. I hope the kids here learn that cc is good for you if you know how to use it.

Read this blog by a guy who take benefit from credit bonuses and offer (0% interest fee, balance transfer, etc) to the limit. http://www.mymoneyblog.com/
 
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this is a pretty good deal if you pay the card off each month. i'm gonna apply and get one as that's what i currently do with two of my cards right now. thanx op!
 
[quote name='gi60']$ 300 from $ 3400.. almost 10%, not including 5% statement credit from the 1st $400 and a minimum of 1% from the next $ 3000.

Edit: I have nothing to do at work, so here's the breakdown.

$ 300 credit from $ 3400
$ 20 credit from 1st $ 400 (PS3 - 5% reward)
$ 30 credit from the next $ 3000 (1% reward for everyday purchase)

= $ 350 / $ 3400 = 10.29 % Cash Back. It's hard to beat.

Well, I just remember that Amex Reward Gold Plus is offering me a 25,000 Amex Point for opening their gold card ($ 150 annual fee is waived for the 1st year) and charge $ 1000 in its card in a month. That's a sligthly better deals but this Amex carry annual fee.

For the last time, those of you who afraid opening and closing credit card will hurt your credit score. It will but not by much. I'm the guy who open and close credit card if a cc is offering me $100 bonus for nothing. During the time when people's credit limit is being cut in half and no new credit is offered, my credit limit actually gets an automatic increase and keep getting offer from high quality card. Just close that new cc after you get the bonus, and keep your old cc open and in good standing. I always paid in full by the way. I hope the kids here learn that cc is good for you if you know how to use it.

Read this blog by a guy who take benefit from credit bonuses and offer (0% interest fee, balance transfer, etc) to the limit. http://www.mymoneyblog.com/[/quote]

That's only for Sony products though.. sure it's good if you want a quick PS3 (although I wouldn't really call it quick since you have to spend so much per month). So, what are you gonna do after you get your PS3? Never use your card again? You're gonna take a hit to your credit score just for a PS3? That's preferring immediate reward to long term. You can get the Citi MTVu card and get 10% off a PS3 on amazon the first day you get your card.
 
[quote name='PhrostByte']That's only for Sony products though.. sure it's good if you want a quick PS3 (although I wouldn't really call it quick since you have to spend so much per month). So, what are you gonna do after you get your PS3? Never use your card again? You're gonna take a hit to your credit score just for a PS3? That's preferring immediate reward to long term. You can get the Citi MTVu card and get 10% off a PS3 on amazon the first day you get your card.[/quote]

"That's only for Sony products though" -- not sure what you mean there, but this is just a regular VISA card, and the point can be apply for statement credit. And actually, MTVu is not the best credit card for those who know CC.

I think you're missing the point here.. 10% of PS3 on Amazon with MTVu card is only $ 40, while this card is $ 300.

And again, $ 300 is worth more than a dink on your credit score that you'll get back after a month or two.

And since you're not spending $ 500 month on everyday purchase, this is not for you.

It's hard to believe that a working adult is not spending $ 500 a month on everyday purchase. Heck, when I'm still in college until 5 years ago, I spent more than $500 a month for food, cellphone, gas, movies, sharing the utilities with 2 roomates (Internet, cable, water, electricity), etc. Maybe SoCal is really expensive.

I envy you guys that don't spend $ 500 / month for everyday purchase.
 
[quote name='vballboy51']Looks like this might be a dead deal? The link no longer brings up the credit card application link.[/quote]

I just tried and it's still working.
 
You don't need to spend anything on Sony product to be qualified for the $200 extra statement credit.

[quote name='PhrostByte']That's only for Sony products though.. sure it's good if you want a quick PS3 (although I wouldn't really call it quick since you have to spend so much per month). So, what are you gonna do after you get your PS3? Never use your card again? You're gonna take a hit to your credit score just for a PS3? That's preferring immediate reward to long term. You can get the Citi MTVu card and get 10% off a PS3 on amazon the first day you get your card.[/quote]
 
[quote name='gi60']"That's only for Sony products though" -- not sure what you mean there, but this is just a regular VISA card, and the point can be apply for statement credit. And actually, MTVu is not the best credit card for those who know CC.

I think you're missing the point here.. 10% of PS3 on Amazon with MTVu card is only $ 40, while this card is $ 300.

And again, $ 300 is worth more than a dink on your credit score that you'll get back after a month or two.

And since you're not spending $ 500 month on everyday purchase, this is not for you.

It's hard to believe that a working adult is not spending $ 500 a month on everyday purchase. Heck, when I'm still in college until 5 years ago, I spent more than $500 a month for food, cellphone, gas, movies, sharing the utilities with 2 roomates (Internet, cable, water, electricity), etc. Maybe SoCal is really expensive.

I envy you guys that don't spend $ 500 / month for everyday purchase.[/quote]

It's $300 total after spending $3,000. I just don't see why this is so great when the MTVu card gives you 10% on all amazon purchases (as well as others). Your card involves doing a bunch of work to get a one-time payoff of $300. After your $300 payoff, your card is pretty much useless. It's only good for some short term gain.

And I usally do spend around $500 a month, I just spread it out over a few cards that offer better cash back rates in different categories.
 
[quote name='PhrostByte']It's $300 total after spending $3,000. I just don't see why this is so great when the MTVu card gives you 10% on all amazon purchases (as well as others). Your card involves doing a bunch of work to get a one-time payoff of $300. After your $300 payoff, your card is pretty much useless. It's only good for some short term gain.

And I usally do spend around $500 a month, I just spread it out over a few cards that offer better cash back rates in different categories.[/quote]

Who cares if the card is useless after $ 3000, just close it. Well, to be fair, It gives up to 5% points even after $ 3000. follow this thread: http://www.cheapassgamer.com/forums/showthread.php?t=210332

The last time I checked, the MTVu card only gives 5% on certain category. But if your MTVu Card gives 10% on all purchases, that's still not a better card, since this one give 10.29%. :) But your MTVu card is one of the best card if it gives 10% on all purchases. I want to apply to that card also.
 
[quote name='gi60']Who cares if the card is useless after $ 3000, just close it. Well, to be fair, It gives up to 5% points even after $ 3000. follow this thread: http://www.cheapassgamer.com/forums/showthread.php?t=210332

The last time I checked, the MTVu card only gives 5% on certain category. But if your MTVu Card gives 10% on all purchases, that's still not a better card, since this one give 10.29%. :) But your MTVu card is one of the best card if it gives 10% on all purchases. I want to apply to that card also.[/quote]

5% points even after $3000? Just for spending money? On what? All purchases? There's no way that's right.. I think you may be leaving out some important details.

And I'd rather not just open and close cards willy nilly, that hurts your credit score. It's a small short term benefit but can be detrimental in the long run.

Also, Citi MTVu is 10 points for 3 months and 5 points afterwards.

EDIT: I checked the site out. This is what it says.


  • 5 points per $1 spent at Sony Style® stores and SonyStyle.com
  • 3 points per $1 spent on Sony purchases from authorized Sony retailers
  • 1 point per $1 spent on everyday purchases
That makes a horrible card unless everything you buy is Sony. My PenFed gives me 5% off gas and my MTVu gives me 5% off bars, restaurants, and bookstores (including amazon). Once again, this is 10% for the first three months.
 
Your credit score will take a hit for just opening and closing cards, and it goes on your full credit report, which banks look at and take into account if you apply for a major loan. If you're not planning on getting loans in the future anyhow, it probably doesn't really matter. And it still might not keep you from getting a loan flat out, but it will not help you, that's for sure.

Opening and immediately closing a credit card expands then shrinks your total credit ratio, this is NOT a good thing and it WILL hurt your credit score. I do not care what some idiot on a blog says. He could easily be lying. When your total credit ratio shrinks, your credit score takes a hit. Banks also don't want to give loans to people who obviously took advantage of lots of credit card offers which were meant to get you to keep a card. A credit card company is a financial institution, like a bank. A bank isn't going to be happy to see someone that screwed over a financial institution, even if they legally did it. I wouldn't want it on my credit report.

Again though, if you're planning to rent your whole life, or at least for the next 3-5 years, it probably wouldn't matter that much, if at all. There are definite advantages to simply renting always. I'd consider it, but I'm too much of a capitalist to throw away money like that with nothing to show. There are pitfalls to home ownership, such as repairs, insurance, yard work, etc, but at least eventually it's your property (unless the gov't decides to seize it from you, google eminent domain).

I don't know where it all goes, because I really don't have that many bills, but damn I easily spend $500+ each month. My car insurance was the lowest it's ever been this time around. 295 for 6 months, nice.
 
[quote name='pwnthee']Your credit score will take a hit for just opening and closing cards, and it goes on your full credit report, which banks look at and take into account if you apply for a major loan. If you're not planning on getting loans in the future anyhow, it probably doesn't really matter. And it still might not keep you from getting a loan flat out, but it will not help you, that's for sure.

Opening and immediately closing a credit card expands then shrinks your total credit ratio, this is NOT a good thing and it WILL hurt your credit score. I do not care what some idiot on a blog says. He could easily be lying. When your total credit ratio shrinks, your credit score takes a hit. Banks also don't want to give loans to people who obviously took advantage of lots of credit card offers which were meant to get you to keep a card. A credit card company is a financial institution, like a bank. A bank isn't going to be happy to see someone that screwed over a financial institution, even if they legally did it. I wouldn't want it on my credit report.

Again though, if you're planning to rent your whole life, or at least for the next 3-5 years, it probably wouldn't matter that much, if at all. There are definite advantages to simply renting always. I'd consider it, but I'm too much of a capitalist to throw away money like that with nothing to show. There are pitfalls to home ownership, such as repairs, insurance, yard work, etc, but at least eventually it's your property (unless the gov't decides to seize it from you, google eminent domain).

I don't know where it all goes, because I really don't have that many bills, but damn I easily spend $500+ each month. My car insurance was the lowest it's ever been this time around. 295 for 6 months, nice.[/quote]

This.
 
[quote name='qwerty1']If you can, report back what happens. I'm about to buy some new audio equipment in excess of $3000 so $300 back would be an insentive. Otherwise i could care less. Does me no good if im forced to buy $400 worth of stuff i dont want in order to activate the promotion.[/QUOTE]
Sorry, I chickened out and bought a PS3 at a Sony store with my card. Didn't feel like going through the hassle of arguing if I bought a PS3 or something else from Dell or Amazon and they tried to refuse the credit. The $100 credit showed up in a few days. I got 5x points from the Sony store, so it almost covered the tax. I'll probably go back to my BP gas card after I get the remaining $200 in credits, but I still like this card due to the sony rewards thread that people keep mentioning. You can get some free points everyday and enter a $1000 daily contest, $10000 monthly contest, and another monthly contest that has some big prizes. I know I've seen at least one CAG member post that they won the daily prize.
 
No need to close the card, just don't use it frequently after you get what you want from it. But do remember to use it. Having 5k on a card and never charging anything but a few gas fill ups here and there will harm your credit score.

But honestly, with the way the financial institutions have taken tax payer money after screwing people over...I don't know if I care about my credit score too much anymore. And I wouldn't be surprised to see a new way to approach the system implemented in the next few years.
 
[quote name='pwnthee']Your credit score will take a hit for just opening and closing cards, and it goes on your full credit report, which banks look at and take into account if you apply for a major loan. If you're not planning on getting loans in the future anyhow, it probably doesn't really matter. And it still might not keep you from getting a loan flat out, but it will not help you, that's for sure.

Opening and immediately closing a credit card expands then shrinks your total credit ratio, this is NOT a good thing and it WILL hurt your credit score. I do not care what some idiot on a blog says. He could easily be lying. When your total credit ratio shrinks, your credit score takes a hit. Banks also don't want to give loans to people who obviously took advantage of lots of credit card offers which were meant to get you to keep a card. A credit card company is a financial institution, like a bank. A bank isn't going to be happy to see someone that screwed over a financial institution, even if they legally did it. I wouldn't want it on my credit report.

Again though, if you're planning to rent your whole life, or at least for the next 3-5 years, it probably wouldn't matter that much, if at all. There are definite advantages to simply renting always. I'd consider it, but I'm too much of a capitalist to throw away money like that with nothing to show. There are pitfalls to home ownership, such as repairs, insurance, yard work, etc, but at least eventually it's your property (unless the gov't decides to seize it from you, google eminent domain).

I don't know where it all goes, because I really don't have that many bills, but damn I easily spend $500+ each month. My car insurance was the lowest it's ever been this time around. 295 for 6 months, nice.[/QUOTE]

However if you keep a credit card and you pay your bills it will build credit. If you keep the card and spend like $50 and pay it off, it is actually a good thing. A CAG that works for credit card company said it is better to pay 4 credit card with $500 each rather than 1 credit card with $2000 as it shows you are responsible able to manage your money.
 
[quote name='62t']However if you keep a credit card and you pay your bills it will build credit. If you keep the card and spend like $50 and pay it off, it is actually a good thing. A CAG that works for credit card company said it is better to pay 4 credit card with $500 each rather than 1 credit card with $2000 as it shows you are responsible able to manage your money.[/quote]

my understanding is that spreading out the balance over numerous cards is better because you have a higher remaining credit to total available credit ratio, which I think translates into a lower risk profile for the credit companies-but again, that's just my understanding of how things work, not saying it's 100% correct.

Don't know if this has been answered yet-but can you spend 299 on sonystyle (not for a ps3, say for a camera or something) and still qualify for the first 100?
 
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That can be accomplished if you just use the card for everything you normaly buy. Should buy some PS3 games and accessories, and then u get the free PS3.

I say excellent deal if you normally have living expenses.
 
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