Capital One offers a PlayStation credit card that can benefit serious gamers out there. While that is certainly not a qualification to obtain this credit card, it can benefit you greatly when it comes to the PlayStation store. As a matter of fact, the only qualification you’ll need to get this card is a good credit standing. Capital One will be the company running your credit report, so if you’re in good standing with Capital One or if you’ve been able to obtain a Capital One credit card before, your chances of getting the PlayStation credit card is high.
The PlayStation credit card is actually a rewards card. The majority of the rewards that you get out of this card are based mostly on gaming habits. First off, you get a reward right away with your first card purchase. You can get a $50 PlayStation store code, which you can use to buy a game or even movies and shows that you can watch through your PlayStation. Next, for every dollar you spend at the PlayStation store and on any PlayStation or Sony products, you can get 5 points. That can add up quite quickly considering that many PlayStation games are pricey to begin with. You can easily pay $40 for one game, and that one purchase alone can rack you up 200 points easily.
One benefit that you get with this credit card that we haven’t really seen before is from your phone bill. You get 3 points for every $1 you spend on your monthly phone bill. This is quite unique to the PlayStation credit card, and we totally get it. Gamers are constantly on their phones to connect with other players everywhere, even globally, so it makes sense for PlayStation to have this reward. If you’re paying $100 per month on your cellphone bill (and that’s actually minimal for typical cellphone use these days), you get an easy 300 points added per month on your rewards credits.
All other purchases will get you 1 point per dollar spent. That’s typical of most cards, but it’s still just great that it’s an option to begin with. You can get a statement credit of up to 50% back if you decide to get a 12-month PlayStation Plus Membership. The membership offers various benefits such as free games. However, you’d have to spend $3k on purchases within a year first to get the 50% back. If you do spend that much, just realize that you’ll be getting $1.5k of it back. That’s a hefty load of your purchases altogether. Lastly, you can also get 10% back as a statement credit again from various other PlayStation services such as PlayStation Vue, PlayStation Music, and PlayStation Now.
There are some key features you should know about this card before trying to get it. It’s not a balance transfer card, so you won’t be able to transfer your balances from other cards. The current regular APR being offered ranges form 15.49% to 24.99% depending on your credit-worthiness. The maximum late fee you can be charged with is $38. It’s on the higher end of charges, but all you’ll have to do to avoid it is pay your bill on time. Capital One does not charge you for going over your limit, but there’s a chance that your purchase can be denied if you ever try to make a purchase. You can also use this card for cash advances. You’ll have a 3% fee with a minimum of $10, and the cash advance APR is the highest at 24.49%. The card has no foreign transaction fees, which is a great benefit for those who travel out of the country often.
The credit card has average reviews for the most part; but being that it’s a Capital One card, it can’t be all that bad. Capital One is known for offering some of the best cards around, and the PlayStation card is just one of their brands. The only way you can make the most out of this card is if you use PlayStation a lot. PlayStation offers more than games, so you can actually use this card to purchase movies and other videos. Also, remember that you can still incur rewards if you use this card to make purchases outside of PlayStation.