CNET: PS3 for $99.99 (after some work)

[repete66211]

CNET has an article "How to get a PlayStation 3 for $100". Naturally, there's a catch--a multi-step process that requires you to have good credit, jump through some hoops and spend a lot of money. So technically this is not a sale, it's just a manipulation of the system.

Step 1: Sign up for Sony's no fee PS3 Visa card.
Step 2: Buy the 80GB PS3 on sonystyle.com for $399.99.
Step 3: In 8-12 weeks Sony will issue a $100 credit.
Step 4: Charging $3,000 on the card in the next 6 months will result in two $100 credits, bringing total cost down to $99.99.

So this isn't a barn burner, but if you a.) plan on buying a PS3 soon, b.) put about $500/month on credit cards and c.) have good credit, then it's a pretty good deal.

Note: Assuming you pay off the balance during the grace period that's a 10% discount.

[Marine Mike]

It really isn't a bad deal if you are planning on getting a credit card and spending $3k on it in the next 6 months.

[drtre81]

Spending $3,000 to save $300 is not a hot deal.

[Sith]

Originally Posted by repete66211

CNET has an article "How to get a PlayStation 3 for $100". Naturally, there's a catch--a multi-step process that requires you to have good credit, jump through some hoops and spend a lot of money. So technically this is not a sale, it's just a manipulation of the system.

Step 1: Sign up for Sony's no fee PS3 Visa card.
Step 2: Buy the 80GB PS3 on sonystyle.com for $399.99.
Step 3: In 8-12 weeks Sony will issue a $100 credit.
Step 4: Charging $3,000 on the card in the next 6 months will result in two $100 credits, bringing total cost down to $99.99.

So this isn't a barn burner, but if you a.) plan on buying a PS3 soon, b.) put about $500/month on credit cards and c.) have good credit, then it's a pretty good deal.

That's ok, I prefer to keep my credit score..

[spam.curitiba]

sooo spend 3k to get a 99 dollar ps3....sounds like a brilliant idea...like the post above only really work if you plan on buying something over 3k...

[AJL3167]

Originally Posted by drtre81

Spending $3,000 to save $300 is not a hot deal.

if you already plan on spending 3000 (which could be a part of normal day expenses) how does that sound like a BAD deal?? DUH

[gumbo]

Originally Posted by drtre81

Spending $3,000 to save $300 is not a hot deal.

I think it is. If you were going to charge $3000 anyway, why not get $300 back instead of the typical $30 you'd get from credit card rebate programs? The impact of a new credit card on your credit report would be the bigger risk, and whether one new credit card is going to make a noticeable difference is up to you.

[red_5ive]

This would'a been good to know before I spent $2700 on my last set of upgrades. I have tier 1 credit.

[HD 335]

I routinely spend at least $500/month on my credit card. Gas alone for me is about $350/month. Too bad I already have 2 PS3s or I might have signed up for this. Opening an additional credit card will impact your credit score slightly, but nothing you can recover in a few months unless you're buying a home and need the lowest interest rate possible.

[repete66211]

Originally Posted by Sith

That's ok, I prefer to keep my credit score..

Opening a new credit card won't have a significant impact on your credit score. In fact, if you make your payments it will actually improve your credit score.

[red_5ive]

Originally Posted by HD 335

I routinely spend at least $500/month on my credit card. Gas alone for me is about $350/month. Too bad I already have 2 PS3s or I might have signed up for this. Opening an additional credit card will impact your credit score slightly, but nothing you can recover in a few months unless you're buying a home and need the lowest interest rate possible.

I have 2 PS3s as well. But heck, I'd have done it anyway had I known. A 3rd PS3 in my office purely for gaming would !

[drtre81]

Originally Posted by gumbo

I think it is. If you were going to charge $3000 anyway, why not get $300 back instead of the typical $30 you'd get from credit card rebate programs? The impact of a new credit card on your credit report would be the bigger risk, and whether one new credit card is going to make a noticeable difference is up to you.

lol this is why the economy is the way it is. People think things like this are a "deal". Unless you pay that $3,000 off in full paying the entire $500 a month you are going to get charged more money in interest than the $200 you "saved".

People are so naive.

[repete66211]

Originally Posted by drtre81

lol this is why the economy is the way it is. People think things like this are a "deal". Unless you pay that $3,000 off in full paying the entire $500 a month you are going to get charged more money in interest than the $200 you "saved".

People are so naive.

There's nothing naive about it. Which is a better deal, a credit card that rebates you $300 or one that doesn't? The $300 in rebates is a good deal if you charge $500/month to a credit card anyway. It's a great deal if you pay off your balances each month. No one has suggested that someone should open a credit card and charge $3,000 for stuff they don't need just to get $300 in rebates.

[drtre81]

Originally Posted by repete66211

There's nothing naive about it. Which is a better deal, a credit card that rebates you $300 or one that doesn't? The $300 in rebates is a good deal if you charge $500/month to a credit card anyway. It's a great deal if you pay off your balances each month. No one has suggested that someone should open a credit card and charge $3,000 for stuff they don't need just to get $300 in rebates.

If a person can afford to charge and pay in full $500 a month on one credit card why not just buy a ps3? I'm sure the interest rate on this card is massive. Why risk it? This also a 1 time thing so unless you continue to pay in full every month,they get that money back in interest.

And don't tell them " Just cancel it after the 6 months" because that WILL screw with their credit score.

[repete66211]

Originally Posted by drtre81

If a person can afford to charge and pay in full $500 a month on one credit card why not just buy a ps3?

Look, I don't want to get into an argument here, but do you understand what a rebate is? It's $300 in free money.

Once again, this deal only makes sense if you a.) are planning on buying a PS3 and b.) charge $500/month anyway.

EDIT: I just checked the terms. The card is issued by Chase with a 13.24% variable rate. Not the best, but lower than I was expecting.

[rumpleminz]

Just use the credit card to pay your rent or bills for 6 months... and you get a ps3 for $99 and it builds up your credit... sounds like a good deal to me.

[Dr.Zoidberg]

I will just wait and get the PS3 slim version when it comes out since it will probably be $100 cheaper.

[Gannet]

I want a 80gb for backward compatibility since I have an old 40gb PS3, but it'll be a hassle to transfer all the files and sell the old PS3. This is definitely a good deal though. I've squeezed thousands of dollars of credit card rewards and never paid a cent of interest in my life. It's all about how you manage money.

[SoCalTiger]

People who think this is a bad deal are naive.

I spend about $300/mo on gas for my car and I put it on my credit card anyway, so......

[Gannet]

I got this card a few weeks back and apparently they give you the $100 credit after spending $300 anywhere. It doesn't have to be Sonystyle related at all. So it's a simple $300 back on $3,300 charges. Quite possibly the best credit card deal I have ever seen. If all the applicants to this card had discipline, Chase would lose money hand over fist.