Introducing the New PlayStation Credit Card

You only get interest/APR after the first like 9 months of owning the card, and if you pay your balance in full every month your APR wouldn’t even matter.

I think this credit card is worth getting for 1 simple factor. You can get the credit card, have it as the SOLE payment method on your account, get the rewards, get the free credits, maybe use it to pay your cellphone bill, and voila. You have a card that if it gets hacked it’s not your main card, not your main bank account, so it’s incredibly easy to dispute any charges on it.

A credit reporting firm was hacked. I mean, there’s a bit of peace of mind to separate all our cards out.

Only using a Playstation Card for Playstation purchases and maybe your cellphone.

Only using your Amazon card for Amazon purchases.

Only using your gas card for gas stations.

You build your credit, have emergency funds, make it easier to rent or lease later on in life, and you can have a usage pattern that makes reporting credit fraud incredibly easy. But don’t forget to freeze your credit after this. Thanks Experian.

Let’s do a math break down for the fun of it.

$50 for applying and getting approved.
$18 back (divide that by 12 for monthly amount) for a $50 cellphone bill payed every month (times 12 is $600)
$30 dollars off your bill for being a plus subscriber and spending more than $3,000 a year.
$24 for the $2400 you spent that took the $600 you spend on phone service

$122 for the first year $72 for every other year.

That’s your minimum. If you got your mom or dad to get the card, and they only used it the bare minimum that’s how much you’d get. $72. Now if you are a plus subscriber I think that means you get $3 in points, and $30 off the bill. For me I guess that would offset about $300 or so in purchases technically. So… if you spend more than say $450 (if my late at night out of my arsenal math is right) and a plus subscriber you will lose out in the long run or if you eat out a lot.

Otherwise you might benefit from the changes. Much better situation for people who buy 1-3 games a year and plus. Not so much for people like me. Amazon Prime + Prime Rewards will benefit me much more.