Get a new PlayStation 3 Slim for $199.99

What's better than a brand-spankin'-new Sony PlayStation 3 Slim for $299.99? A brand-spankin'-new Sony PlayStation 3 Slim for $199.99, of course.

I suspect I'll get an earful for this, but the deal comes courtesy of our old friend, the Sony Visa card. When you make a purchase of $299 or more, you get a $100 credit in 8 to 12 weeks. Final price: $199.99.

All you do is sign up for the card, then head over to SonyStyle and drop a sweet, sweet 120GB PlayStation 3 in your cart. (I know it doesn't say "Slim" anywhere, but this is definitely the new model.) Watch CNET's video review if you want to learn more about it.

When your Visa card arrives, stick it in a drawer until the $100 credit appears on your statement. Then spend the money like you would cash. Then cut the card into pieces and burn the pieces.

Not interested in this kind of hoop-jumping just to save $100? That's cool. But think about it: This isn't much different than filling out a rebate form and waiting on a check in the mail. In fact, it's quite a bit easier overall, and you're much less likely to get burned.

Still not convinced? Then try this: Sony just lowered the price on refurbished consoles! Now you can pick up a 40GB PlayStation 3 for just $219.99 shipped. If you can live with a 90-day warranty, that's one of the best PS3 deals to date.

Of course, a new PS3 for $199.99 is even better. What do you think? Did you already pull the trigger on last week's deal (long since expired), or did your Cheapskate senses tell you something better was just around the corner?

[hightechfanboy]

This sound like a good deal espeacially since you only got to spend $299 afterwards not like last time that you had to spend like like $3000 I think. I might get one if sony offers good rates for purchaches on their credit card, no more than 10 percent apr maybe?

[drezjohnson]

Took advantage of this deal last week and it works. The APR for the card is a variable rate (13.99 currently which was the best available). The site did say to allow 8 to 12 weeks but it only took about a week for me. I ordered the PS3 on Tues 9/22...I received it via Fedex on Fri 9/22...and got my $100 credit on Mon 9/29...Final cost $215.66!!! Plus if you get the older model $80gb you also get an extra wireless controller free. I decided that I would rather have the extra controller and the glossy look rather than the larger hdd of the slim. Too bad I was checking the site yesterday for a friend and the offer has changed and is now only $50 back instead of $100 but maybe that will change again

[RockaTech]

The refurbished ps3 for $219 could be a good deal if that system is the old model with backwards compatibility and a person was looking for that specific model but yup $199 is a good deal. Thats a price of a psp!

[ean_kile]

Although the promotional code "6FWJ247J1P44CK " you provided for 15% percent off the PlayStation 3 Slim 120GB doesn't work online, it's listed as not expiring until October 31st. When I used Dell's online support chat on Tuesday, they completed the order with me by phone and applied the discount(although they tried to sell me an extra controller and a game, which I declined). They said they were having problems with the code online. It was a longer process, but it might be worth a shot.

[ean_kile]

Although the promotional code "6FWJ247J1P44CK " you provided for 15% percent off the PlayStation 3 Slim 120GB doesn't work online, it's listed as not expiring until October 31st. When I used Dell's online support chat on Tuesday, they completed the order with me by phone and applied the discount(although they tried to sell me an extra controller and a game, which I declined). They said they were having problems with the code online. It was a longer process, but it might be worth a shot.

[wwrrww]

Nice deal. As long as you are financially responsible with credit cards, reward cards are free money as far as I'm concerned.

[jrowens84]

That's a lot better than the last idea you had to get a PS3 for cheap (the one where you jumped through so many hoops that it didn't make any since and it just gave you something to write about whenever you had nothing), however, don't forget the interest on the card and the shipping on the product! That will leave you probably somewhere in the realm of $250 overall, but still better than $299. Not to bad this time; improvements are always good.

[rickbroida]

Shipping is free (sorry I neglected to mention that), and you pay interest only if you don't pay off the charge.

[jmcelhan]

It seems like a good deal, if you don't mind the hit to your credit score. One hit for Sony checking your credit history for approval and another hit for opening a new line of credit. Possibly a third hit in the future for having a revolving line of credit out there that you'll never use again. Reward cards are not free money. If you think they are, just rack up a few and try to get a decent interest rate on your next car.

[goatfinder]

Amen...

[DirtyRice]

completely agree. i don't like the feeling of having all these one-time use credit cards. i'd rather keep it simple. not worth the risk of finding any "surprises" to my credit score. i was able to get last week's deal of $255 for the ps3 on dell before the website got wise. thank you for the wonderful tip.

[jmcelhan]

I also picked up the $255 Slim from Dell. That was a great deal!! Thanks for that tip.

[sfynx7d4]

i did this back when they were offering $300 in credit if you spent $1500 in 3 months and then another $1500 in another 3 months. people were complaining about it......i don't know why it was the easiest thing to pay my bills with. i sold an old computer monitor i had and i didn't pay anything for my $399 PS3!!! Plus i also bought the $99 4 year warranty which i sold dvds for and again FREE!!!!! Also all the points I racked up on the Sony card using it to get my $300 credit got me enough points for a free $54.99 PS3 Bluetooth ear piece!!! <br /><br />I didn't get 3 "hits" to my credit score, I have got loans since then. People think getting a credit card kills your credit score. What kills your credit score is not paying your debt off. Just manage your money right and you'll be fine.

[Wernher_von_Braun]

"Reward cards are not free money. If you think they are, just rack up a few and try to get a decent interest rate on your next car."<br /><br />WRONG! If you are responsible with your credit cards, they are TOTALLY FREE MONEY. I just received a $250 rewards check from my Chase credit card. Cost to me? $0.00 I haven't paid them one cent of interest in the 1 1/2 years I've had it. AND, they just raised my credit limit (helping my overall credit score). Just bought a new car, credit score about 800.

[tomgarz]

I also got the $300 deal, worked great, got the credits in 1 1/2 months, payed off the card and have 5000 credits to spend on the Sony Rewards...a great deal. My credit score has never taken a hit for this kind of deal but then again I pay off all my bills every month and have not had a interest charge on any cards for years.

[chamm3r]

While a credit inquiry might be a tiny hit on your credit it not worth worrying about, everyone has to apply for credit once in a while. If anything though, it helps your long term score by keeping your available credit to debt ratio lower. Canceling unused credit cards actually lowers your score because it lowers this ratio.

[DirtyRice]

right, if u pay off all ur debts, then u shouldn't experience any problems. my issue is that it can be hard personally to keep track. i'm afraid i might forget to pay a credit card that i don't normally use and wind up having to deal with an unnecessary hassle. maybe it's more about not feeling like i have all these loose ends.

[SquirrelPotPie]

You won't get "three hits" on your credit score. You'll receive an inquiry, which if you have good credit, you won't have to worry about. If you have bad credit, you won't have to worry much about it anyway, as it drops off after a few months. If you receive the card, it will show on your credit report, which only hurts you if you can't use it responsibly. <br /> <br />Actually, having a few cards listed is good for your credit score. The longer you own credit cards and show that you can use them responsibly, the more likely it is that others will extend you credit. Not having credit card/revolving credit history actually negatively impacts your credit score. I don't want to go through finding references for this statement, because I'm not sure anyone actually cares, but if anyone does, I can surely reference it. <br /> <br />Just use the card responsibly and it won't hurt you. That's all.

[Kev_Orng]

Expressing them as "hits" is probably the wrong way to say it, as you can tell from your replies. It's more like three factors that will be swirled into the equation that determines your score - only the actual credit check will appear as anything like a "hit"<br /><br />In response to the other replies; It's not so much about just *this* credit card; it's about the fact that every which way we turn, people are offering us credit cards in exchange for rewards that may or may not be any benefit to us, but they all sure sound tempting; The uninformed person could easily end up with 5 or 6 of these rotating cards, all factoring into that credit score. <br /><br />Sure, if we all manage our money right, it shouldn't be much of a problem, but lets face it. We don't. <br /><br />Do you know what happens when you weigh down an underinformed population with all kinds of credit, debt, and a low-flying credit score? The last year happens, that's what.<br /><br />Take it from a guy who, five years ago, was that underinformed joe with two many credit cards. I learned my lessons about how an accumulation of credit cards affects your credit score the hard way. This isn't an abstract for me, I can describe it quite vividly. You need 1 (ONE) credit card with a good history. The rest just bring you down. The $100 is not worth it.

[GrahamNY]

The 40 GB PS3 does not have backwards compatibility. The model most coveted for that is the 60 GB.

[ywkhgqo]

or the 80 gig MGS4 bundle

[Dan7637]

rick this isnt a deal and you need something new<br /><br />this visa "deal" is not a real deal so stop using it so much

[Squirrel1081]

I hope Rick has this Visa deal listed everyday just to **** you off. :o)

[gnorman333]

Good Deal! Keep up the good work Rick! <br />Many of us out here, like yourself recognize a good deal when we see one! <br />=)

[Raabscuttle]

While not a fan of "hoops" deals, I do lik the way Rick thinks.. Cheapskate baby!

Just got the Dell deal by chatting online. Told them I couldn't get the coupon code to work and they applied it, (after trying to sell me extras.) Sweet!

[DanVila]

This is pretty irresponsible advise. To get deeper in debt to save $100 dollars. This is more of a gimmick than a good deal.

[jwilson61904]

Okay, I'm going to help you out with this since you just don't seem to understand how to do it without digging yourself deep into debt. <br /> <br />1. Ensure that you have $300 to pay for the system. If you do not have $300, then you can't affor a new game system. Come back when you can. <br /> <br />2. Apply for, receive and use this card to purchase the PS3. Yes there will be a slight hit to your credit score from the credit check that Sony will perform prior to approving your new card. The hit is minimal and should not affect your ability to receive loans or rates down the road. This is no different than if an auto dealership runs your credit when your looking a purchasing a new car. <br /> <br />3. When the charge comes through, take the $300 from step one and pay of the card to avoid interest charges. <br /> <br />4. Wait for the $100 credit to be applied to the card. <br /> <br />5. Use the card on everyday items such as gas, groceries, a new PS3 game. <br /> <br />6. Once the $100 is spent, you may then cancel the card. <br /> <br />Sure this is a little extra work and you just have to ask yourself is it worth $100 to put in the time and effort described above.

[Mr_fleabite]

Hey don't forget if you like Wheel of Fortune, Visa Sony rewards holders get chances to win prizes and extras if you're also in the wheel watchers club. This is very stupid, I know (I'm forced to overhear the pitch every night), but I'm just throwing it out there FYI. <br /> <br />My problem is that I need one helluva deal to get a PS3 old or new, because if I get this my wife is going to want something equally, more like, doublely expensive. Rick help a cheapskate out!

[cferg88218]

I already got mine! I ordered it right after they put it on their website. It's soooo sweet!!! A $100 back is $100 back in my book! Too good a deal to pass on! One word: BLU-RAY!!!!

[Kev_Orng]

A measly hundred dollars is NOT worth the hit on your credit rating.<br /><br />It's not just that they do a hard call which affects your score; <br /><br />Having too many credit cards affects your score <br />Having too many RECENTLY ACQUIRED credit cards affects your score<br />Having too much available credit affects your score (yes, negatively)<br />Having the appearance of being someone who habitually jumps from card to card to take advantage of deals and introductory rates, or to transfer balances.

[cnetmart]

Update....,.. <br /> <br />I did the earlier deal. Bought the PS3 for $399. Got the $100 credit immediately. Saw price drop to $299 on Sony's site. Called SonyStyle and got a price adjustment ($100 plus tax back, since price dropped within 30 days of purchase. Just got another $100 credit for spending $1500 on gas, groceries, utilities, etc. I will move back to my amex for a month. And then charge another $1500 for the second three month period to get another $100 back. In the end, the PS3 will be basically free. <br /> <br />And yes, these are normal charges of $1500. Getting the card did not change my spending habits. Paid each month in full :-)

[Dan7637]

to all you other people who think people are dumb for not listening to this so called deal are immature and the only way this is a deal is if you intended to buy a ps3 anyway and already use your credit card to pay for things which isnt everyone<br /><br />[CNET editors' note: Personal attack deleted]

[Art Davis]

Yeah, you don't have to "sign up for the card" to get the deal - you have to "sign up AND BE APPROVED for the card" to get it. Not even remotely the same thing.

[Hairy_Bagel]

Running a credit check does NOT affect your credit score. Running multiple checks in a short period of time, however, can. But, using the cards responsibly (i.e. making purchases, and either paying them off monthly or paying more than the minimum monthly payments) affects your score more positively than running the checks does negatively (does that make sense?).<br /><br />With so many different opinions about what affects your credit score and what doesn't, two things are evident:<br /><br />1) It's no wonder we got in to so much trouble last year. And,<br />2) There really needs to be some sort of credit holders' bill of rights/FAQ, to provide boundaries to work within.

[Roni7777]

Ahh Rick...Rick...do you ever think about the guy who invented the rebate. You kinda want to kick him in the groin right. He is no where near as evil and manipulative as the dude who is trying to get more credit cards in the hands of every man, woman and child...and some pets. And you are drinking his tainted kool-aid and offering it to others. <br /> <br />(Note: I know...the credit card rewards are slightly rewarding for less than .05% of the people. Yes, if you can handle poisonous snakes you may be able to get away with it all...but most of the times they bite. Plus evil credit card dude laughs at most people who think it works for them. The Cheapskate cult may have a slightly higher percentage by nature, even so, you will spend more with credit cards than with cash. Alternatively, the other day I asked if I could get a discount on my $300 car repair if I paid in cash and they dropped $35 off. I got that with my cash rewards card.). <br /> <br />So like that crazy lady from the 90's says "stop the insanity!"

[mike4862]

You're funny. You paid cash for a small discount and the provider doesn't report the income. He actually saves as much as 30%. Both of you cheat the government.