The Playstation Credit Card: A Great Card For Gamers

Image of Playstation Credit Card
Rewards Rating
General 60
Airline 50
Hotel 50
Gas 50
Groceries 60

Some of the staff here at ValuePenguin, myself included happen to be big gamers. And when it comes to the next gen consoles we've all chosen to get behind the PS4.(Sorry Xbox Fans!) It was a pleasant shock to us when we came across the Playstation Credit Card from Capital One a card that combined our love of games and personal finance. We're generally not a big fan of narrow use rewards credit cards. More often than not they make it hard to earn rewards. Even when you do earn rewards the rewards rate isn't much to talk about. The Playstation Credit Card is one of the few examples we actually think is worth discussing.

A Ridiculous 10% Rewards Rate on Playstation Store Purchases

What really makes this credit card stand out is the ridiculously high rewards rate playstation owners stand to earn when making purchases on the Playstation Store. The card rewards gamers with 10 points through Sony's reward program for every dollar spent. With points converted at a penny each towards games, accessories and gift cards, cardholders effectively receive a 10% return on all money spent through the Playstation Store. There are very few cards that offer anywhere near this value in all the spending categories we've examined. Even the most generous travel rewards credit cards top off at 3-4%.

Growing Digital Options

In the past even the high reward rate may not have been attractive simply because there weren't many products you could buy through the Playstation Network or Store. Nowadays however with nearly every major title releasing purchasable DLCs and Season Passes the digital options have opened up tremendously. If you're like me then you've even purchased digital copies of games directly from the store itself. The digital offerings are only going to get bigger as it is clear Sony had made it a big focus in their strategy. Each month the library of digital only indie titles continues to grow. Now all these purchases would be eligible for the 10% rewards rate helping you pay for your next game, or digital download. Multiplayer fans paying for Playstation Plus can add that on as another expense to earn rewards with. 

Best of all the card has no annual fees, making it the perfect card to keep around for the singular purpose of squeezing out a little more value in your gaming purchases. If you're gamer that buys any digital content you really should consider making this your primary billing card when it comes to your Playstation. The best strategy is to have this card and use it solely for your digital purchases or those you might make at Sony.com (Cardholders earn 3% when buying at Sony)  

An Added $50 Bonus

If the 10% rewards rate isn't reason enough, new cardholders are also being offered a $50 Playstation Store Code after their first purchase within the first 90 days of getting the card. If you're thinking about buying any DLC content why not take advantage of nearly a free game worth of value. If you don't have any immediate purchase plans buying credits to extend your Playstation Plus membership is a viable way to earn the credit.

Obviously the one drawback with digital content is that you generally can't return or resell it. So if you like to sell your used games to stores like gamestop this card may be of a little less value. As with all rewards credit cards, the Playstation Card will only be worth it if you pay off your balance every month. With interest rates starting at 13.9%, if you maintain a balance on the card at the end of each month it will quickly undo any value you receive from your rewards.

In Depth Analysis

  • Card Features

Card Features

A break down of how the card works including how rewards are earned and your redemption options.

Rewards Rates

When it comes to spending on Playstation's digital content, this card provides a world class rewards rate. If you're a big fan of sony electronics, the 3% rate for  purchases through Sony.com or the Sony Store is not too shabby either.

Spending Category Rewards
Playstation Store 10 points per $1 spent
Sony Store and Sony.com 3 points per $1 spent
Quick Services Restaurants, Movie Theatres 3 points per $1 spent
Mobile Phone Bill 3 points per $1 spent
All Other 1 point per $1 spent

Redeeming Rewards

In order to redeem rewards, cardholders must be a member of Sony's loyalty program at SonyRewards.com. Points earned through the card are associated with the account at Sony Rewards and can be used their for different redemption options. Effectively each reward point is worth a penny towards items available through the reward store, which includes games, movies, gift cards and just about every type of sony product.

 
Comments And Questions

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's website.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program. 

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About Our Credit Card Research

The ValuePenguin team independently researches the features of each credit card we come across to provide unbiased analysis. Using the information we collect, we build a separate computer model for each card to determine how the card performs and how it compares to other options. We make each of our models available to you so you can see how the various cards work for your specific circumstances.

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