Sony and Capital One Launch New PlayStation Credit Card

Sony and Capital One have partnered to create a new PlayStation credit card. The PlayStation Card is backed by Visa, and gives a number of awards for gaming enthusiasts.

Sony is offering five rewards points per $1 spent at the PlayStation Store or on PlayStation or Sony products. Users can also earn three points per $1 spent on mobile phone bills. All other purchases earn one point per $1.

According to the rewards program FAQ, Sony Rewards can be used for games, collectible items and “exclusive Sony once-in-a-lifetime experiences.” The points do expire, but cardholders will have five years to use their rewards.

The current sign-up bonus offers a 50% statement credit applied toward a PlayStation Plus Membership. To earn this, users must make $3,000 worth of purchases on the card within the first year. Cardholders can also earn a 10% statement credit for purchases made on PlayStation Now, PlayStation Music or PlayStation Vue.

The PlayStation Card has no annual fee and 0% APR on purchases through March 2018. After that, there is an APR of 15.49% - 24.99% (Variable), depending on your credit worthiness.