The SonyCard Visa Credit Card is heavily marketed to people who like electronic gadgets and gamers in particular. Card members can earn substantial reward points on Sony products and also receive points for other entertainment expenditures such as dining out and movie tickets. Even everyday purchases earn a point as well. This card is issued by Capital One.
Capital One is offering new account holders the opportunity to receive 5,000 bonus points. To qualify, you must make your first purchase on the card within the first 90 days of activation. There is no minimum purchase amount. You must also be a registered member of Sony Rewards (which is free to sign up) and the bonus points can only be redeemed through SonyRewards.com.
An additional promotion being given to new card members is a 0% annual percentage rate (APR) on all purchases made from the time you are approved for an account until December of 2015. The APR after this time will vary between 13.9% and 24.9% depending on your creditworthiness (determined at the time of approval).
Earning Sony Rewards Points is tiered as follows:
- Five points – For every dollar spent on Sony purchases at Sony stores, Sony authorized retailers, and Sony.com
- Three points – For every dollar spent on movies and dining out
- One point – For every dollar spent on all other purchases
Here is an example of how quickly your Rewards Points can add up in just your first month.
|Sony Bravia HDTV
|Dine out four times
|New member bonus
|Total Reward Points
Card members must register for the Sony Rewards program prior to redeeming points. Membership is free. There is no limit on the number of points you can earn.
Reward points can be redeemed for everything in the Sony rewards online catalog. Products include the latest Sony electronics, music, movies, and games. Gift cards are also available.
There is no annual fee associated with the SonyCard Visa Credit Card.
Here we’ve broken down the specifics of this card to help you determine if it’s the right card for you.
Signup bonus points:
New account holders can earn 5,000 bonus Rewards points once approved for the SonyCard Visa Credit Card. To qualify, you must make one purchase (no minimum amount required) on the card within the first 90 days of activation. This time period begins at the time you are approved. The actual time you have to make a purchase may be less than 90 days depending on when you receive your card. The qualifying purchase must post to your account before the stipulated date your offer ends. It’s important to note that card members must be registered for the Sony Rewards program in order to receive the bonus points offer.
Introductory APR on purchases:
Capital One is offering new cardholders an introductory annual percentage rate of 0% on all purchases made with the card until December of 2015. After that time, the APR will vary between 13.9% and 24.9% depending on your credit history and other factors. This rate is determined at the time you are approved for the card.
Easy to earn points:
The SonyCard Visa Credit Card makes it easy for card members to earn points. Purchases made at a Sony store, authorized Sony retailers, or at Sony.com earn 5 points for every dollar spent on the card. Dining out and movies earn 3 points per dollar spent and all other purchases earn one point per dollar.
No annual fee:
There is no annual fee for the SonyCard Visa Credit Card. Many rewards cards charge members an annual fee which in reality defeats the purpose of earning rewards.
No foreign transaction fees:
While many rewards cards still charge a foreign transaction fee of 2.7% to 3% on purchases made outside of the U.S., this card does not charge this fee. If you frequently travel internationally, this feature can potentially save you a lot of money in unwanted fees depending on your spending habits.
Once the introductory 0% APR on purchases expires (in December of 2015), cardholders will be charged an annual percentage rate of 13.9% to 24.9% on any unpaid balances carried forward each month. Your actual APR will be determined when you are approved for the SonyCard Visa Credit Card and is based upon your creditworthiness.
High Penalty Fees and Rates:
A penalty fee of up to $35 can be assessed any time you make a late payment or miss a payment altogether. Additionally, Capital One can apply a penalty APR of 29.4% on your card once you make a late payment. If you carry a balance on your card each month, these penalty interest charges can add up very fast.
Earning Sony Rewards points is relatively easy with the card but redeeming those points for merchandise or gift cards can be frustrating. Items you want from the Sony Rewards catalog may be sold out or on backorder resulting in time delays to actually receive your reward item. Shipping times may vary. Also, card members can only redeem points online through the Sony Catalog. This requirement means that cardholders may need to visit one or more retail outlets to see and compare merchandise before deciding which item they want through the catalog. You must be a registered member of the Sony Rewards program to earn and redeem points. Membership is free. Available in the catalog are the latest Sony electronics plus games, movies, music and gift cards. Point levels range from 1 to over 50,000. Lower levels (up to 5,000 points) include DVDs, gift cards for restaurants and other retailers, and electronics. The 50,000+ points level offers HDTVs, cameras, and other high-end electronics.
To receive the 5 points reward on Sony purchases:
Card members automatically receive 1 point per dollar spent on Sony purchases at authorized Sony retailers. However, to receive the additional 4 points per dollar you must submit a Bonus Points form which is available online at SonyRewards.com. People may find this time-consuming and an annoyance.
The SonyCard Visa Credit Card is a rewards credit especially targeted to consumers who like Sony products (HDTVs, computers, game consoles, etc.). The points are tiered so that the most benefits (5X) go to people who routinely purchase a lot of games and electronics. If this describes your situation, this card is worth considering.