How to get a PlayStation 3 for $100
Switch to Sony's Visa card for a few months and get $300 back on a PlayStation 3.
(Credit: Sony)Some deals you have to work at, like sending in a rebate form or driving to a store. Then there's the $100 Sony PlayStation 3. It's a real deal, but with three hoops you have to jump through.
Here's how it works. First, you sign up for Sony's new, no-annual-fee PlayStation Visa card (click the above link), which offers instant online approval. Next, head to SonyStyle.com and order an 80GB PlayStation 3 for $399.99.
Sometime in the next 8-12 weeks, Sony will issue you a $100 credit, bringing your net cost down to $299.99.
In the interim (i.e., within three months), if you charge another $1,500 on your PlayStation card, you'll receive another $100 credit. And by charging another $1,500 before the six-month mark, you'll get a third $100 credit.
That brings your total PlayStation 3 cost to $99.99. So ultimately, you're getting 300 bucks' worth of credits (which are as good as cash, IMHO) by using Sony's Visa card for a few months. If you typically charge at least $500 per month anyway, why not make the switch?
Like I said, some deals involve a bit of work. This is without a doubt the best price you'll ever see on a new PlayStation 3, even if does require the full amount (and then some) up front.
What do you think? Worth the effort? Or too much hoop-jumping?
Rick Broida, a technology writer for nearly 20 years, is the author of more than a dozen books. In addition to writing CNET's The Cheapskate blog, he oversees BNET's Business Hacks. Rick is a member of the CNET Blog Network and is not an employee of CBS Interactive. Disclosure. Deals found on The Cheapskate are subject to availability, expiration, and other terms determined by sellers. Follow Rick on Twitter at cheapskateblog. 
Charge up college tuition, rent, groceries, shopping, etc to reach the quota, but please make sure to pay it all back. Like someone said earlier, if you are carrying balances you have no business charging up a ps3 as a cheapskate.
On a side note? I am soon going to have a brand new PS3 on ebay, any of you guys interested? If you mention Rick's name I will throw in free shipping.
This could wind up making the PS3 cost a lot more over the course of the year.
Not to mention the fact that if you move your spending from your current rewards credit card (that any good Cheapskate should be using) to the Sony card, you'll be losing on all the rewards you regularly get for that card. I get 1-5% back on my card, so I'd be giving up at least $30 there.
I think the initial $100 is still a good deal, though.
Anyway I won't be buying a PS3 until they restore backwards compatibility! All good Cheapskates know that PS2 games are the best bargains!
You don't just forget July. People don't "miss" payments. They SKIP them. So yeah, buy a Playstation, don't pay for it, and you'll get hit with a fee.
In general you don't have an excuse to miss a payment, because what people are talking about here, is not borrowing $3000, but spending $3000, which is entirely different.
It means you only put something on the card, that you could have paid for with cash anyway. If you don't have the money to back it up...don't make the charge. You don't make the charge, you don't miss a payment.
The discussion here is about paying the balance in full every month, but if somehow something really went wacky, then you are saying you won't even make the minimum payment, of $40 or whatever, wow...
I know people who live in the world of missed payments don't know this, but the majority never miss a payment, I mean never, never, won't happen, don't.
I have been reading your blog for a while now, and I've thought about chiming in before but never had, but today's "deal" makes me want to. As a true cheapskate would know, you never would want to put $3000 (in less than 6 months) on a credit card just to get a couple hundred bucks back later. Unless you can pay off that three grand as you charge it, you will likely pay more over the long run.
I'm sorry, but I don't like seeing professionals trying to push credit cards. They are too sleazy for someone of your caliber to encourage your readers to use, just to save a few bucks on a PS3. Maybe what you could have done instead was to review credit card sites (or direct us to a site that does) and see which online credit cards gives us the most incentives and has a low rate or something along those lines. Just my thoughts.
Obviously I wouldn't encourage anyway to spend an *extra* $3,000 just to save $300 (which is not "a few bucks," btw). But if that's money you're already spending, I honestly don't see a downside here.
Chill out dude. I spend $2,000+ on my credit card each month (I basically put all my expenses on my credit card; might as well earn the credit!), so this deal makes a ton of sense to people like me.
Now, if you're the type that uses money through credit cards but forgets to pay it off (and ends up paying fees for those), then the problem does not lie with the credit card, but your inability to manage your cashflow.
As a good Cheapskate, I put most of my monthly purchases on a credit card that gives me between 1-5% cash back depending on the purchase. So, if I switch to this for about 1 1/2 months, I will have met that obligation and will get 10% cashback on that $3000. My net benefit is 5 - 9%; but that's only a good deal if you are planning to get a PS3 anyway.
I think Rick is pointing out a steal of a deal for those with enough discipline to do it right. Thanks for another great offer. Keep up the good work!
It's a loan. But a loan you don't have to put up any collateral for, and at 0%! Who on earth is going to offer you a loan with no property backing it and charge you nothing for it?
If you extend the loan by carrying balances, you'll find yourself paying the same minimal interest rate you agreed to. Pesky time value of money! The only way you get into trouble is if you don't pay for what you bought. I'd say that's where the "sleaze" comes in.
Overall, using the Sony card not only got me a playstation at $150.00 off, but also gave me some sony "currency" to boot and a low interest rate card...
Now those are some great CHEAPSKATE deals!!!!!!!
I agree with you 100%
I'll stick with my Visa Rewards that gives me 5% cash (yes, cash) back for groceries and gas charged too it.
Its an OPTION people...an OPTION
jeez...
Thanks for the heads up Rick!
Take the deal for what it is: a clever way for people to purchase a PS3 at a discounted price. The risk is not that high if you are already going to put that money on credit anyway with the expectation of paying it off before it's due. If you just consider the cash back you're earning on that $3k ($200 or 6.67%), that's better than most credit cards I can think of.
In fact it would not bother me a bit if you even pushed a credit card. I have been using my discover card for over 10 years when they were the only game in town that did cash back. Now that everybody is doing it, I would not mind getting a round up of all the best credit card deals when it comes to cash back.
So for all you credit card fear mongers, use them to all your advantages and just don't carry a balance unless it's for emergencies. Like the SNL script, if you can't afford it, don't buy it!
www.hulu.com/watch/1389/saturday-night-live-dont-buy-stuff
I have never seen a reward at 9% from a credit card.
For those who regularly spend $500 or more using credit cards (think automatic payments for cable/internet, weekly groceries, etc...) this would be a no-brainer. You'd just switch from using your regular credit card to the Sony one. You'd do this for six months. Then, you could switch back to doing things the old way. Of course, you always have the option of sticking with the Sony card from now on and that's what Sony banks on.
Clearly (hopefully?) if anyone regularly charges $500 or more on credit cards per month, they are also PAYING $500 or more to their credit card each month. In other words, I would hope someone wouldn't be increasing their debt by $500 per month. If this is the case, you've got bigger problems than trying to figure out how to get a PS3 for $100.
- by valdukey July 14, 2009 10:07 AM PDT
- That's why this country is in a world of hurt. People having too many credit cards and too much debt. Anyone who needs to open up a credit card to save money on a PS3 shouldn't be purchasing a PS3 in the first place.
- Like this Reply to this comment
-
-
- by FillTheGap July 14, 2009 10:26 AM PDT
- That maybe true but going in to "debt" is usually a choice. It's not like you get a credit card and suddenly your in debt. You have to actively spend money that you can't pay back. That a choice people have made simple as that.
- Like this
-
- by ReesesLee July 14, 2009 11:04 AM PDT
- Like another poster said...this is only an option. If you actually read what Rick wrote, this is just an added bonus for those who are spending the said amount already.
- Like this
-
Showing 1 of 6 pages (159 Comments)You are better off opening up a better credit card (big spenders - AMEX blue cash CC).
Please don't speak for everyone because there are plenty of people with enough common sense to know how to manage their budget and spend within their means. Each individual should know if this deal works for them or not. From reading many of these posts, looks like there are many people who are not sure how to manage their income and spendings.