Comments on: How to get a PlayStation 3 for $100

Yep, there's a catch or two, but if you're the patient, credit-card-using sort, you'll ultimately walk away with a new PS3 for $99.99. Of course, it's a Blu-ray player, too.

[paulimusmaximus]

Too much hassle.

[bubsmcgoo]

Once again Cheapskate, you have found a way for thousands of us to save big! I pay for nearly all of my bills with a credit card attached to my bank accounts. I am only able to recoup about 1% on purchases these days. I figure that this is a 15% return on purchase. Thanks and keep up the good work!!!

[Spazzy00]

Too much I was going to recommend this to a friend, but he wouldn't be able to use the credit card aptly

[randomperson590]

ok i dont care what any one says this IS a stupid idea. just using a credit card is stupid, though at times necessary. Im not going to spend what $4500 to get $300 dollars off a game system. this is bad finical advice. if your that desperate for a game console try something new: SAVE YOUR MONEY!. obiously you have other uses for your money but putting aside alittle each month and you can get it, i saved up for months to buy an hdtv, i could have bought it with a credit card yes but with interest and all it wouldnt have been worth it

[nelsonpj]

You are correct IF you don't plan on paying the card off each month and the $3k you spend is new spending you would not have made otherwise.

If you pay the card in full when you get your statement and only charge purchases you would have made otherwise its a GREAT idea. You dont pay any interest or other fees and save yourself $300 on the system. If you're mature enough to handle the responsibility you're stupid if you dont recoginze the benefit.

[techpimp19]

ok this is by far the stupidest thing i have ever heard of! wow the guy is suggesting that you get a sony visa card and spend 3,000 dollars in six months like its nothing! ok first off all if you can afford to drop 3 grand on stupid **** over that amount of time i really dont think a 400 dollar ps3 is problem for you to afford. oh yeah im sure some big shot is like man i really want a ps3 but not for 400 bucks ha what a joke! no one in their right mind would do this unless your loaded and if your loaded you already own a ps3 so end of story!

$1500!!! If a heavy spender like that is willing to do that for the sake of a cheap PS3 then surely they can pull together the amount of money neccecary for a PS3 full price!

[sfynx7d4]

this deal has been posted many times before. i signed up in february and bought the PS3 for $399, plus the 4 year warranty for $99. it is much easier to spend $3000 dollars in six months then you might think. gas, bills, food, etc....so if you have a budget and buy things you need anyways it is pretty easy to spend $3000. i have received my $300 credits already and I also go the rewards points which i then used to buy a $50 PS3 Bluetooth. So really I got $350 credits. So technically the PS3 cost me $50 plus tax. Add in the 4 year warranty of $99, then I spent a total of $149 plus tax. However I was smart and sold some old dvds and pc monitor I didn't need anymore, and made about $181. So really it didn't cost me anything. Just make sure you don't carry a balance. Even if you did carry a balance won month, the interest will only be about $5 or so. Also the intiial purchase you make for $399, or in my case $519 because of the $99 4 year warranty and tax, there is no interest for a year on that. All in all a good deal if you want pay bills with a credit card.

[dhulfish]

The stupidity of some people amazes me. Credit cards did not cause the poor economy, in fact, if used properly, credit cards are actually a financial tool that can help you save money. I'm not going to sit here and try to explain time value of money (some other commenters have tried and it has gone on deaf ears), but wake up people and realize that this is an amazing opportunity for anyone looking to get a PS3. If you consider your normal spending habits, $3k over 6 months is pretty reasonable (think rent, food, gas, etc.).

Rick - Keep up the good work. The educated, responsible, zero credit card balance carrying individuals appreciate what you do.

(Oh yeah and the guy who tried to say that MOST people carry a balance on their credit cards: HAHA I've never laughed so hard in my life!!!)

[Nychocolips]

I would not take advantage of this deal. But I am a person who uses my cards to pay all of my bills. I also pay off those bills quite promptly. I don't buy more than I can pay well before the payment date.

People who don't spend those amounts "normally" should not even look at this suggestion (which is essentially what I got from Rick's blog). I'd also suggest looking into what perks having a Sony credit card has and if that coincides with your lifestyle. And finally, and very importantly, look into what getting an extra card means for you and your credit rating.

Either way, it's interesting to read the discussion about peoples sense of fiscal management.

Cheers

[Roni7777]

Obviously there is more than 3 hoops. The fourth one, namely, being RISK. For the tiny percent of Americans who do actually pay off their credit card each month (readers of this post may possibly make up a higher percent if you are like me scouring daily what Rick scours daily...cheapskately), this may sound pretty good. But there is still alot of risk that very very smart people know about - credit card company big wigs.

"Bleep you Roni7777, I almost got the deal with my last payment of $500 on the credit card to pay off tomorrow...um...what honey, the AC on the car died today and refrigerator is is smoking?!?!?!" Hmmm - I wonder where the extra dough is going then. Murphy's law. Maybe that should be the name of the 4th hoop.

"But I use credit cards all the time and get great rewards - this is just another." First of all you will never hear a rich person say "You know what my financial break through was, airline miles from my credit card." Second, do you ever wonder why credit cards give rewards. Are they just nice people who like to share the wealth. They?re freak'n geniuses when it come to getting money out of you. They are better at getting money out of you than you think. Why is the average credit card household debt in the US is $10,679. Look it up. They know that the majority of people will not pay off their credit cards on time every time. Fees pop up out of nowhere and it has been documented that credit card companies delayed processing of your payment in order to charge a late fee. Which most people with debts don't even see because they don't look close enough.

As a nut who drinks the "no credit cards kool-aid", I myself just two days ago cancelled the only cards my wife an I have. Now we haven't used them in in about two years but I actually just eliminated more risk of credit card & ID theft. Life with out them is good. I have build a cash emergency fund and there is no pressure to "make payments". Remember rich people don't ask if they can afford the payments, they ask if they can afford it.

But I digress, I am not rich...yet.

[not2worried]

Using a credit on every thing you buy is fine..I do that.
Credit cards are generally safer, and have a fair amount of protection.
But please people do not pay interest. 15 years of have a Credit card, and never have I paid a penny.
If you don't have the funds. Don't buy it!
Just mach sure you pay it off every month ( $0 balance)
And only have a few CC!

[lang0502]

Here's a couple other ideas: if you can't reach the spending limit then buy a couple gift cards for stores you go to a lot (like Target, grocery store, etc.).

One more thing to think about: opening and closing cards can damage your credit which may make something like your car insurance rates go up or other borrowing costs go up. This could wipe out any savings.

[cnetmart]

I had to go back and see the additional comments that were added regarding the use of credit cards. What cracks me up is how ignorant people are in regards to the use of credit cards. I am a guy. I carry around a money clip with maybe a couple twentys, but I rely on plastic for day to day transactions as well as larger purchases. Can I afford to pay cash? YEP. But why? Who wants to carry around change or grubby small bills that have been handled by perhaps thousands of individuals. Plus, credit cards provide an incentive for me to use the card. So why not? I just go my annual cash back credit from my Amex blue cash card which amounted to almost a grand. So who is the dumb one here? The problem is that these cards rely on those that can't keep up or fall into the trap of spending more than they take in. SELF CONTROL PEOPLE!!!!!!

[the_iceman]

oh wow is that all? get yourself into debt problem just to get a PS3? Why not just save some cash every paycheck then go buy it instead

[Karthik_Nair]

This is stupid. The article says if charge 500 dollars a month on the card by the end of six months and 3000 dollars you would have a PS3 for $100. So basically I could buy like 6 PS3's to get my seventh one for $100. Smart!

[cpdeepak]

Definitely not worth the trouble !

[N1CK87T]

Wow this is an awesome idea!

[msjonker]

Getting another line of credit isn't with its consequences. There is a chance your credit score could take a hit because of this.

[brebuch1]

Wow. Alot of anger at this post. First, I am doing this promotion right now, and I will keep you posted on how the credits hit. Second, everyone who is slamming this piece is part of the problem. They see the word "credit card" and think "only to be used for frivolous and unneccesary purchases". My wife and I got two Sony cards (same account and both go towards the $3000) and we are using them for gas, groceries, eating out, entertainment, utilities, Netflix, PS3, Killzone 2, etc. NOTHING beyond our normal budget. Throw in next semester's textbooks, my wife's birthday present, and other stuff and we will make the $3000 in 6 months because that is what we already spend. If you still live in your mom's basement and she pays all your bills, then maybe this deal isn't for you. For everyone else out on their own, you spend more than $500 a month, and 90% of that can be paid for by a credit card that you can pay off in full every month. Nowhere in this article did it say go and spend an additional $3000 on top of your normal expenses. Now just relax a bit, and the logic will make sense.

[cohenri7]

This is free money for smart people and a trap for dumb people. It is clear from the responses that everyone has self-identified their correct category. As I mentioned in an earlier post, I did this deal and didn't even buy a PS3. Charged $3,400, paid the credit card company $3,100 and stopped using the card. Thanks for the $300 Chase/Sony!!!

[dupublic]

Way to go friend! 10% cachback after just a few hoops.

BTW i love cachback cards. My Charles Schwab card gets me 2% cashback deposited back each month. No limits whatsoever.