PlayStation news: Sony announces PlayStation credit card for owners

A winner of Sony's one million Sony Reward points sweepstakes contest. PlayStation official website

PlayStation owners who are wondering how to afford the upcoming plethora of games for the console can now rest, as Sony has unveiled a PlayStation gamer credit card.

In partnership with Capital One, Sony will be introducing its new PlayStation credit card for all fans of the gaming console. Aside from functioning like a regular credit card, it will also give other exclusive bonuses like Sony reward points and PlayStation Store credit. 

Sony Rewards is a program where the owners earn points for purchases on the PlayStation Store. A hundred points equal one dollar, and earning enough points will allow players to purchase games essentially free. The new credit card will give five times more points for PlayStation Store purchases compared to an online or cash purchase and three times the points whenever the owner uses their cell phones to pay bills. 

Owners who have a PlayStation Plus membership will also be able to take advantage of a promo that allows them to use 50 percent of their purchase amount as credit that could be taken off of their 12-month PlayStation Plus subscription. This means that they will be able to pay significantly less for the subscription service as long as they keep their PlayStation credit card purchases high enough.

Further, the card will have no annual fees and will come in various video game-inspired custom designs. The said credit card, however, is a Visa card. Potential buyers who do not live in an area where Visa is accepted will be out of luck. 

Interested buyers will have to take note of the credit card's 23.99 percent (variable) cash advance rate and annual percentage rates of either 14.99 percent, 17.99 percent, 20.99 percent, or 24.99 percent. It will be free of interest for the first 25 days.

That said, no official announcements have been made yet regarding the availability of the offer.

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