5 Things to Know About the PlayStation Credit Card

Gamers who make frequent PlayStation or Sony purchases may be eager to get their hands on the PlayStation® Visa® Credit Card.

Issued by Comenity Bank, the $0-annual-fee card offers decent rewards for brand products, but you’ll have to do some work to earn them. Plus, you’re limited in terms of what you can redeem those rewards for. A general cash-back credit card would prove much more versatile.

Here are five things to know about the PlayStation® Visa® Credit Card.

» MORE: NerdWallet's best credit cards for gamers

1. Some rewards are inconvenient and tedious to earn

You’ll be automatically enrolled in the Sony Rewards program, which is required in order to earn rewards, when you open the PlayStation® Visa® Credit Card.

Cardholders will earn the following:

• 5 points per $1 spent when you shop directly with PlayStation.

• 5 points per $1 spent on Sony or PlayStation products purchased from an authorized retailer.

• 3 points per $1 spent on cable and internet bill payments.

• 2 points per $1 spent at restaurants.

• 1 point per $1 spent on all other purchases.

Point values will vary depending on what you redeem them for. For example, point values for gift cards hover around .8 cent, while you can snag electronics for a penny per point (as of September 2023).

The elevated rewards on Sony and PlayStation products is compelling. But you’ll have to jump through some hoops to get them. For the card's highest 5x rewards rate, you’ll automatically get 1 point per dollar for brand purchases made at authorized retailers. However, you must submit a Sony Rewards bonus points form through the Sony Rewards app to receive the remaining 4 points. This is cumbersome and rare for a rewards credit card.

For easier and more streamlined rewards earning and redeeming, consider a flat-rate card that earns a solid rate on everything, regardless of category or merchant. The Wells Fargo Active Cash® Card, for example, earns 2% cash back on all purchases and has a $0 annual fee. See more options below.

2. Redemption is clunky and inflexible

Points earned with the PlayStation® Visa® Credit Card can be redeemed toward Sony and PlayStation products available through the Sony Rewards catalog, including movies, TV shows, video games and gift cards. You can also redeem points toward products featured on Sony’s “Deals & Steals” limited-time sales. Plus, you can use your points to purchase tickets to some concerts and other events. But note that points expire after five years, so you must redeem your points during that time frame or lose them.

Although other store-branded credit cards come with similarly restrictive redemption processes, the best rewards credit cards typically don’t make you jump through hoops to use your rewards, nor do they limit what you can use them for.

» MORE: NerdWallet’s best store credit cards

3. There is a sign-up bonus

Once you open the PlayStation® Visa® Credit Card and spend $400 in the first 60 days, you'll earn a $100 statement credit. This offer ends December 31, 2023.

Compared to other retail credit cards, this is a stellar sign-up bonus. But other cards have more valuable welcome offers. With the Wells Fargo Active Cash® Card, for example, new cardholders can earn this offer: Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.

» MORE: Best credit card bonuses for new cardholders

FLAT-RATE CREDIT CARDS TO CONSIDER

4. You can shop instantly after you are approved for the card

Once you’re approved for the PlayStation® Visa® Credit Card, you’ll be sent a temporary shopping pass, which will allow you to make online purchases immediately, rather than waiting for the physical card to be sent to you.

» MORE: Other credit cards you can use instantly after approval

5. It can be expensive to carry a balance

As of September 2023, the variable APR for purchases made with the PlayStation® Visa® Credit Card can be as high as 27.99%.