Home > 2014 > Credit Cards

A New Credit Card for Gamers

Advertiser Disclosure Comments 0 Comments

As sales of video games rival those of movie tickets, gamers are always looking for a way to save money on the latest titles. GameStop, one of the nation’s largest video game retailers, has now confirmed it is testing its own co-branded credit card.


Rumors swirled recently around the video game giant after a report on Destructoid.com contained three images purported to be of unreleased marketing material from the new card. The images suggest a sign-up bonus of 5,000 points for basic members of their rewards program, and 15,000 for “Pro Members.” These points would be worth $5 and $15 respectively.

Another photo appears to show a part of the credit card’s terms and conditions, also known as the Schumer Box. It shows that the card would have a 26.99% APR, a 25-day grace period and no annual fee.

GameStop confirmed for Credit.com that the retailer is “currently testing a private label credit card with a select group of employees. If the test proves to provide additional value to our shopping experience, it will be made available to customers before the holiday shopping season.” The company’s spokesperson would not disclose the name of the issuing bank or other card details. If the hints we have about GameStop’s credit card and its terms hold up, here’s what prospective cardholders should expect.

How Does This Card Stack Up?

When (or if) this card becomes available, GameStop would be joining hundreds of other retailers that offer their customers co-branded credit cards. When judged against the market for retail credit cards, the tested offer is par for the course. Many retailers’ credit cards have APRs in the 20% to 30% range and most charge no annual fee. The reported card also includes a 25-day grace period, which is more than the 21-day minimum dictated by the Credit CARD Act of 2009.

Nevertheless, retail credit cards as a whole tend to have higher interest rates and less valuable rewards than credit cards offered directly by banks, as well as those co-branded with major travel providers. For example, the Barclaycard Arrival Plus credit card currently offers new cardholders 40,000 bonus miles (when they spend $3,000 on new purchases within 90 days), which are worth more than $400 toward travel reservations. There is, however, an $89 annual fee for this card that is waived the first year.

In addition, many other cards offer more competitive interest rates, such as the Chase Slate, which features rates as low as 12.99% for the most qualified applicants, and as high as 22.99% for less-qualified cardholders. Furthermore, Slate features 15 months of interest-free financing on both new purchases and balance transfers, with no balance-transfer fee. There is no annual fee for this card.

Should You Get This Card?

With more 6,000 retail locations, it is safe to assume that there are many fans of GameStop. Once all of the details of this card are officially released, regular GameStop customers can decide if the benefits would be worth it. As with any retail credit card, customers should always take the time to examine its terms and conditions, and compare it with competing products.

The latest video games, consoles and accessories can be fun but expensive, and gamers should seriously consider which credit card makes the most sense for their purchases. Before you apply for any credit card, make sure to check your credit scores to see which rates you’re most likely to qualify for. You can check two of your credit scores for free every month on Credit.com.

More on Credit Cards:

Image: iStock

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Our Owners

Credit.com is owned by Progrexion Holdings Inc. which is the owner and administrator of a number of business related to credit and credit repair, including CreditRepair.com, and eFolks. In addition, Progrexion also provides services to Lexington Law Firm as a third party provider. Despite being owned by Progrexion, it is not the role of the Credit.com editorial team to advocate the use of the company’s other services. In articles, reporters may mention credit repair as an option, for example, but we’ll also be sure to note the various alternatives to that service. Furthermore, you may see ads for credit repair services on Credit.com, but the editorial team isn’t responsible for the creation or implementation of those ads, anymore than reporters for the New York Times or Washington Post are responsible for the ads on their sites.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team