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01 December 2008 @ 12:43 pm
Now with new and appropriate icon!  
Remember how Sony swore that they weren't going to drop the price on the PS3 this holiday season?

Well _technically_ they didn't lie. However two weeks ago they announced a "Playstation credit card." Like all new-fangled credit cards it allows you to earn points by spending money, in this case towards the purchase of Sony products. However the big kicker is that if you sign up for one between now and December 31st they will give you $150 off the purchase of a PS3. Of course depending on how it affects sales this price drop special offer may end up getting continued. I guess those of you who believed their earlier guarantee of no price drop and already purchased one within the last month and a half are just out of luck. Sorry if i'm the bearer of annoying news.

So the question is, should i take advantage of this? Is it really just a sneaky way to offer a price drop, or is there a catch? I really don't know what i need to look out for with credit card offers since i've only ever had one credit card in my life. It's even an old-fangled one without any kind of incentive program. On the one hand it seems like a shame to break that noble tradition (at least i'm going to pretend it's a noble tradition rather than sheer laziness) but if there's actually no significant catch it would be rather silly not to take them up on the offer. Especially since the only reason i've been putting off the purchase at this point is concerns about the price. (I was also concerned about the return of backwards compatibility for awhile, but i've given up on that fantasy by now.)
Current Mood: curiouscurious
Coraacoraa on December 1st, 2008 08:54 pm (UTC)
Eh. I'm not bothered, because signing up for a credit card to get a discount is really not on my radar, and the same goes for Pav, I think. So it's not really bearing bad news.
DonAithnendonaithnen on December 1st, 2008 08:59 pm (UTC)
Is that because you know something about credit card offers that i don't? Or just cause you don't think it's worth the effort? Up until now i've had so little interest in the pros that i've never really looked into the cons at all, but saving $150 (or i suppose looking at it the other way, getting a PS3 at least a year earlier than i would otherwise) is a pretty big pro.
Coraacoraa on December 1st, 2008 09:12 pm (UTC)
(Warning: long-winded reply!)

Part of it is just a slippery-slope thing. There are so many cool bonus credit cards for things I buy often -- Amazon! Barnes and Noble! Paypal! -- that once I start opening credit cards based on special offers, it's just downhill from there. When my current card expires, I might trade it in for something with a better rewards plan, but I'm iffy on opening new cards for rewards.

Part of it is that I think that the country is in too much damned debt, and I kind of have issues with companies trying to lure people into getting cards by offering promotions. I don't want to put another checkmark on the 'this type of promotion works to get people to open more credit' metric. I realize that that's a personal idiosyncrasy.

Part of it is that I don't want to do the research to see if a promotional card is actually sucktastic. If I'm going to open a card, I want it to be because they offer me a good rate, are easy to manage online, and don't have too many fees -- not because they have a promotion. And since I already have a pretty good card, I don't feel like I want to do all that research. And I don't trust that a big promotional card is going to be a good card, so I'd feel obligated to find the interest schedule, fee schedule and privacy policy. Too much work. ;)

And part of it is that I'm paranoid about debt. I don't want more of it, and even if I never use the card, still, it's a temptation. I don't want too many new lines of credit on my credit report -- partly because I don't think it's great for my score, and partly because the more lines of credit I have to monitor, the more likely I am to miss an error (and errors do occur -- Pav had a couple on his credit report that our mortgage guy had to call around to clean up). And should my identity ever be stolen, heaven forbid, the more things I have open, the more work it will be to resolve.

I just don't like debt, don't like credit cards, don't think that the major banking institutions that issue them have my best interests, um, at heart, and therefore don't want to tie myself to more of that sort of thing, even for a fairly significant discount.

That said, I realize that I am weird about this topic -- and I do have a credit card, and I even use it for some things. I just don't want to be bribed into picking up more of something I don't like. Even if the bribe is really good.

This should not be viewed as a reflection on your decision, whatever it may be. :) It's just a personal Thing.
cwendy41cwendy41 on December 1st, 2008 09:28 pm (UTC)
I'm with you on this one. I've opened up accounts before because of the offers, but found that I don't use the cards much after that initial purchase. I feel bad about closing the account because it might ding your credit score (I don't remember in what circumstance), so I leave it open. But then I have to worry about the account floating around. It seems easier to have one credit card and stick with it. I have two, so that I can use the other one in case of an emergency. Easy to keep track of, easy to remember to pay the bill. When moving and needing to change addresses, having less cards is easier to work with.

Sometimes I pick credit cards based on what they look like :p I refuse to use one of my cards because it's red and I only want a silver card.

Though, if you aren't happy with your other cards (for example, not enough reward points, bad rates, etc) and this offer seems good, then I guess signing up wouldn't be bad. I'm trying to switch my card because I get no reward points with it. I usually pay off all my bills the month they're due, so not having rewards is silly.
DonAithnendonaithnen on December 5th, 2008 01:46 am (UTC)
I actually agree with pretty much all of that. I would never be tempted by this because of the reward points part of the plan (or i long since would have gotten a new credit card with rewards points already) it's just the $150 up front that's tempting me.

I looked at the various interest rates and schedules and stuff, put i don't really care _that_ much about them because i'm not planning to actually use the card for much besides the purchase that will get me $150. I was just trying to see if there was any fine print about "and if you ever use this credit card then we get your first-born child." And given that i don't plan to actually keep any debt on the thing i don't feel too bad about "rewarding" them for trying to get people to go into debt.