PlayStation® Card from Capital One
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If you’re a serious gamer — or you have one living under your roof — the PlayStation® Card from Capital One could save you some dough on PlayStation games, accessories and other Sony products.
You won’t find another card that offers as high a rewards rate on gaming as this one. The Playstation Card from Capital One pays a generous 5 rewards points for every $1 spent at the PlayStation store and also 5 rewards points for every PlayStation or Sony purchase made from authorized retailers. If your goal is to earn credit for more PlayStation games and products, you can’t beat this card.
Sony knows its audience here, as you’ll earn 3x points on mobile phone bills you pay with this card. All other purchases earn 1x point, which means this probably shouldn’t be your credit card of first choice for everyday spending.
With your very first purchase on the card (made within 90 days of account opening), you’ll also get a $50 PlayStation Store code — enough to nearly buy a new game for free.
The points earned from this card are redeemable through the Sony Rewards network, which means that cardholders can redeem their points for anything in the vast online Sony Rewards catalog, including electronics, DVDs, gift cards and even bid on VIP packages to concerts and other events.
You can use your rewards to buy select movies, TV shows and music, but the prices to do so are no bargain. Average movie rentals are around $4.99 each, so you’d likely be better off with a monthly Netflix or Hulu subscription for a few dollars more that offers unlimited viewing. The real value is in the 5x the rewards for buying PlayStation and Sony products and then redeeming those rewards for additional PlayStation stuff.
One big downside of this rewards program is that rewards can’t be used for cash back or a statement credit. You may find the redemption options are too restrictive.
You can also get 50% back as a statement credit off the cost of a 12-month PlayStation Plus Membership if you spend at least $3,000 on the card within a year. Owning this card automatically will get you 10% back as a statement credit off of PlayStation Vue, PlayStation Music and PlayStation Now streaming services.
Who should own this card
Anyone who wants to earn PlayStation-based rewards for their kid (or inner kid) can benefit from owning this card to use on their gaming purchases.
Fees and APR
- There’s no fee to own this card.
- This card comes with an introductory 0% APR offer, which lasts until September 2018. After that, it’s a variable 15.49% to 24.99%.
Extras, perks and using rewards
Once you’re approved for the card and create an online account, you can log back into your account within 7 to 10 days and choose from one of the offered designs to customize your card.
Rewards can be redeemed through the online Sony Marketplace. There is a section on the website that offers deals where you can purchase merchandise at a discounted rewards price. Points will expire five years from the end of the month in which they were earned.
How this card compares
Think of the Amazon Prime Rewards Visa Signature Card as a constant coupon for the busy household that uses Amazon Prime to buy everything from bulk pantry goods to birthday party gifts, sports equipment and other items for their kids. This card’s 5% return on Amazon purchases is among the highest rewards of any credit card on the market today.
With double rewards on all NFL purchases, which includes tickets and concessions at the game and swag from NFLShop.com, owners of the NFL Extra Points Credit Card can revel in all things pigskin.
But there are other rewards cards that will earn you greater rewards across a broader range of categories. And you should use another rewards card with a better rate then the NFL card’s 1x points per $1 spent on all other spending.
The card earns an unlimited 1% cash back when you make a purchase and another 1% back when you pay for those purchases. Big spenders may find this nets more cash-back overall as there’s no ceiling on what you can earn back.