Console pricing thread

[patsu]

and aside from the $150 ps3 discount you will get nothing else from the card except the max spending limit listed as debt on your credit report. Many cards offer first month bonuses when you first sign up. Cards that offer general cash back on purchases including every day purchases can easily make you back that $150 by just buying items at shoprite or stop and shop. And will continue to provide you cash back for months and years to come.

Like I said, as great as the scheme sounds, it still doesn't give me $150 discount for a PS3. Look at the thread title.

The cashbacks you mentioned are meagle. And if you read the short article I linked to, you'd know that the user gets reward points for buying other Sony and Playstation products via the card too.

That isn't how it works actually. First you will be polled for your credit which is a negative when other companys are looking into your credit. Secondly having an open line of credit is considered a debt when other companys check your credit report. They will consider the max line you can get from that credit card as debt. So if this card gives you a two thousand line of credit , when someone polls you to buy a new car or a mortage they will consider you as having a $2000 debt and may pass on you . The more open lines of credit the worse off you are. Its recomended to only carry 2-3 credit cards and that they shouldn't be store cards. Also thinking that you'd just open it and then pay the bill and close the credit line wont work either as you will take a negative hit on your credit score.

Your right that eventualy you can build your credit , however it would be much easier with other cards that are part of your bank. Normaly with a linked credit card from a place you have a savings account you can get a lower apr.

Still, it is possible to build a good credit history and get the $150 at the same time. It's up to the applicant to deliberate whether and how to juggle his/her credits. Over the years, I have closed some and obtained new ones. I don't see how it's different this time round.

I never said it was doom and gloom. I only pointed out that this isn't a coupon and there are strings attached adn the strings can be negative

There are many kind of coupon schemes with strings attached.

EDIT: Bumped into an article on Playstation Card: http://www.cnbc.com/id/27897719/site/14081545

 

[dobwal]

Sure and that's all great. But it doesn't give you $150 discounts for a PS3 purchase right ? The cash backs are usually meagle.



Opening a new credit card will cause you a few points at first, but if you pay on time, it helps to build your credit history, and hence a better loan in the future. There are always positives and negatives for everything. Even if you keep your current credit cards, you are still liable for scoring badly. The only real point is to be responsible to your finance.

Now if it's a great deal, I don't see why it's suddenly all doom and gloom to take advantage of it as long as you are as diligent with the new card as your old cards.

Its a great deal if you are a financially responsible person. But Sony is counting on a great deal of people being less than totally responsible. For every person that opens a PS3 card and buys a PS3 for $250.00 and then within 30 days pays the entire amount off there will be plenty of others who will buy a $250.00 PS3, an extra controller, a few games and maybe some other accessories and walk away with owing way more than $250.00 + tax. Sony is counting on that a bulk of these people will spend months to years paying the minimum on the balances allowing for Sony to profit off the interest those consumers will be paying every month.

For alot of people this offer is the equivalent of going to Rent-A-Center and renting to own a PS3, where for 40 dollars a month you can own a PS3 in 24 months.

 

[PARANOiA]

Oh please. Don't be so dramatic - people need to take responsibility for their own ability to afford things. That's like saying Sony shouldn't let people buy a PS3 on a credit card at all, since they may be increasing personal levels of debt.

 

[eastmen]

Like I said, as great as the scheme sounds, it still doesn't give me $150 discount for a PS3. Look at the thread title.

The cashbacks you mentioned are meagle. And if you read the short article I linked to, you'd know that the user gets reward points for buying other Sony and Playstation products via the card too.

meger ? I get 10, 5 and 3 % back depending on the purchase. That is much better than the discounts this card will offer on sony products. Even if it matches the 5% cash back of my card you still only get it on sony products.

Also with my card it wouldn't take very long to get that $150 cash back. It would take me about 2 months of using the card to get that $150 with the introduction % in the firt month. If your responsible you can continue using the card on all purchases not just sony product and continue to get cash back.

The sony card will limit you to the $150 original amount and whatever amount u get form buying sony items. While enjoying a crazy high apr.

Still, it is possible to build a good credit history and get the $150 at the same time. It's up to the applicant to deliberate whether and how to juggle his/her credits. Over the years, I have closed some and obtained new ones. I don't see how it's different this time round

Perhaps but not everyone has great credit already and these cards can hurt.

There are many kind of coupon schemes with strings attached.

EDIT: Bumped into an article on Playstation Card: http://www.cnbc.com/id/27897719/site/14081545

Sure show me a coupon with negative strings attached.

Also nice artricle, to bad it doesn't mention the insane apr rate that they can charge you when you agree to using this card

Oh please. Don't be so dramatic - people need to take responsibility for their own ability to afford things. That's like saying Sony shouldn't let people buy a PS3 on a credit card at all, since they may be increasing personal levels of debt.

I don't agree with opening credit cards for a one time discount. It can hurt many people who don't knwo any better. I was also against personal friends of mine using the microcenter deal a few years ago to get $100 off the xbox 360 . Its just not a smart move.

 

[corduroygt]

Hello,
I just had to join here to correct a misconception about the Sony card.
It really is the best of both worlds.

Look at which bank offers the Sony card, and you'll see it's Chase bank. You log into it using the same webpage and it has the same interface as the Chase freedom card eastmen is bragging about. I have that card, and it used to be my Sony card, here's how:

I got my PS3 last year with a similar deal and I got $100 off and a bunch of points. After making a few more purchases, just enough to get points for a PS3 eye, I called Chase Bank, and told them I'd like to convert my Sony card into the Chase Freedom card. They said no problem and sent me a new card, and discontinued the Sony card after a month or so.

So not only I got $100 off my PS3 (it's even a better deal now with $150 off), but now I have the Chase Freedom card which offers one of the best cashback programs around.

So, by all means, go for the Sony card deal, and after you're done with it, ask Chase to convert it to the Freedom card with its better rewards and cash back that you can use for anything. You can't lose!

 

[patsu]

meger ? I get 10, 5 and 3 % back depending on the purchase. That is much better than the discounts this card will offer on sony products. Even if it matches the 5% cash back of my card you still only get it on sony products.

Also with my card it wouldn't take very long to get that $150 cash back. It would take me about 2 months of using the card to get that $150 with the introduction % in the firt month. If your responsible you can continue using the card on all purchases not just sony product and continue to get cash back.

The sony card will limit you to the $150 original amount and whatever amount u get form buying sony items. While enjoying a crazy high apr.

Perhaps but not everyone has great credit already and these cards can hurt.

Please see corduroygt's response if you really want a Freedom Card.

You still don't get the point. You can get more than $150 back from the Playstation Card or the Freedom Card, but only the former gives you a $150 discount for PS3.

According to Google, Freedom Card has also scaled back its cashback to 1 - 3%.

Sure show me a coupon with negative strings attached.

You should be be able to find them. There are coupons that require you to meet certain quota for example (i.e., accelerate your spending). In the first place, opening a credit card is meant to help your credit. It's only a negative thing if you mismanage it.

I don't agree with opening credit cards for a one time discount. It can hurt many people who don't knwo any better. I was also against personal friends of mine using the microcenter deal a few years ago to get $100 off the xbox 360 . Its just not a smart move.

Whatever. His existing credit card can hurt him too if he doesn't know any better.

Oh please. Don't be so dramatic - people need to take responsibility for their own ability to afford things. That's like saying Sony shouldn't let people buy a PS3 on a credit card at all, since they may be increasing personal levels of debt.

 

[Diamond.G]

Sony may not do a price cut but it may do discounts through selective outlets.

Similar to the X360 deal through Microcenter last year or the year before.

Amazon is offering a limited number of PS3 bundles at $199.

I am hoping to be able to get in on the PS3 @199 deal....

 

[RancidLunchmeat]

I think you really need to look into what some 'credit experts' say about opening store credit cards, or credit cards with low balances.

It is universally accepted as one of the worst things you can do to your credit rating. Eastmen is correct, that in the long run, for the majority of people doing this will cost them more on future interest rates, future credit opportunities, etc.. than they will 'save' on this offer.

And this goes not just for this credit card, it goes for all store credit cards.

I'd also like to mention that the fact that one individual was able to 'close' his Sony account and 'open' another account with the same banking institution does nothing to demonstrate his credit wasn't impacted by the Sony card.

On the contrary, the very fact he had to 'close' his one account in order to 'open' another signifies that they are not the same. Despite his statements to the contrary.

 

[dobwal]

Oh please. Don't be so dramatic - people need to take responsibility for their own ability to afford things. That's like saying Sony shouldn't let people buy a PS3 on a credit card at all, since they may be increasing personal levels of debt.

It has nothing to do with being dramatic. There is nothing "great" about a deal that requires a disclaimer because the greatness of the deal is largely dependent on adhering to a specific set of actions that most consumers won't follow.

Whats the purpose of offering $150.00 off a product who sells for a loss at full retail price and then allow the purchasers to take their time paying off that $250.00? The purpose is that Sony knows that based off consumers habits, the average purchaser will pay enough in interest that will more than offset their $150.00 discount and the discount of the consumers who were smart enough to get away with paying little to no interest on their PS3 purchase.

Yes, its a great deal for the small minority of users, just like ARM loans were great for those who were financially responsible and luckily refinanced to a fixed rate mortgage before the rate on their loan adjusted prior to the mortgage meltdown.

Is Sony wrong for offering such a deal? No. Is it a great deal for general consumers? Also, no.

 

[DrJay24]

The point of the deal isn't to let the balance sit and fester, it's to get the $150 and pay off the CC. If you cannot payoff the balance in the first month you cannot afford the console and you should not buy it on any CC.

Sony is hoping you either use their card or leave a balance. It's no different than a bank giving way a toaster or iPod for opening an account. They are trying to move you from a compititor to themselves.

I recently used the deal. I will get my $150 and cancel my card. I don't need a card, I have great credit and I have zero risk. If you are a kid living in a basement and somehow get approved and then default then you get what you deserve - but going through life as a moron has its risks.

 

[liolio]

In France Sony will offer a 50 euros rebate on the PS3 (likely in response to MS one 40 euros).

 

[Arwin]

Here we're getting commercials now for game bundles, with two new games (like say Resistance 2 and LittleBigPlanet, choice from 8 games) included for the default 399 price

 

[Crossbar]

Here we're getting commercials now for game bundles, with two new games (like say Resistance 2 and LittleBigPlanet, choice from 8 games) included for the default 399 price

Here in Sweden the PS3 is expensive. The bog standard bundles (1 game) cost significantly more than the console SKU, about 460-480 Euro, while the console SKU cost about 420-430 Euro.

Guess what, we got a pre-packed Singstar ABBA PS3 bundle.
It will probably sell a few units.

 

[Arwin]

Even the bog standard toystore which is rarely a good deal has at least one new game packin on their website, e.g. PS3 80GB + Resistance 2 for 399. Same for LBP, Motorstorm 2, etc. From the boxes, these look to be official bundles.

 

[Crossbar]

Even the bog standard toystore which is rarely a good deal has at least one new game packin on their website, e.g. PS3 80GB + Resistance 2 for 399. Same for LBP, Motorstorm 2, etc. From the boxes, these look to be official bundles.

I meant the official bundles, they are significantly more expensive here in Sweden. I don´t know what they are thinking, but Sony has maybe fulfilled their sales target here and cut down on the subsidies.

 

[Arwin]

I meant the official bundles, they are significantly more expensive here in Sweden. I don´t know what they are thinking, but Sony has maybe fulfilled their sales target here and cut down on the subsidies.

These are actually official bundles. The Media Market dea which I've just looked at in more detail is actually one of these official bundles, and then adding one Sony title (Resistance 2, LBP, Buzz, MotorStorm 2, or any of 4 SingStar PS3 discs) for free. Though I don't know what they have the PS3 default bundle priced at, so maybe it's effectively the same deal.

I've actually got friends and colleagues regularly travelling to most Scandinavian countries. Maybe they should bring PS3s next time ...

 

[DuckThor Evil]

I meant the official bundles, they are significantly more expensive here in Sweden. I don´t know what they are thinking, but Sony has maybe fulfilled their sales target here and cut down on the subsidies.

There is an additional middle man operating in Scandinavia called Nordisk Film, who imports Playstation products and takes their cut. In Finland their mark up is 80€, so instead of 399€, what is the price in rest of the Europe we pay 479€ and the situation is similar in all Scandinavian countries. X360 however is selling inline with the European pricing, meaning that you can buy 2 60GB pros, for the price of one PS3.

 

[Crossbar]

There is an additional middle man operating in Scandinavia called Nordisk Film, who imports Playstation products and takes their cut. In Finland their mark up is 80€, so instead of 399€, what is the price in rest of the Europe we pay 479€ and the situation is similar in all Scandinavian countries. X360 however is selling inline with the European pricing, meaning that you can buy 2 60GB pros, for the price of one PS3.

Yeah, I know about Nordisk Film, but Sony could move their business anytime if they wanted to, so I find it hard to believe Nordisk Film is cutting 20% inbetween.

Do the official bundles cost more than 479 € in Finland?

 

[bkilian]

Hello,
I just had to join here to correct a misconception about the Sony card.
It really is the best of both worlds.

Look at which bank offers the Sony card, and you'll see it's Chase bank. You log into it using the same webpage and it has the same interface as the Chase freedom card eastmen is bragging about. I have that card, and it used to be my Sony card, here's how:

I got my PS3 last year with a similar deal and I got $100 off and a bunch of points. After making a few more purchases, just enough to get points for a PS3 eye, I called Chase Bank, and told them I'd like to convert my Sony card into the Chase Freedom card. They said no problem and sent me a new card, and discontinued the Sony card after a month or so.

So not only I got $100 off my PS3 (it's even a better deal now with $150 off), but now I have the Chase Freedom card which offers one of the best cashback programs around.

So, by all means, go for the Sony card deal, and after you're done with it, ask Chase to convert it to the Freedom card with its better rewards and cash back that you can use for anything. You can't lose!

Bah! I have the Amazon card from Chase, pay it off each month, and in the last two months, have earned $225 in amazon gift certificates. I don't need no steenkin' Sony card

Anyways, it's a smart deal for Sony, people think they're getting a deal. Chase takes the risk, and Sony makes a sale.

 

[wco81]

I've had the Sony Visa card for years.

They've credited me about $350 for my PS2 and PS3 purchases.