How Does the GameStop Credit Card Work: Benefits and Rewards

Reviewed by Thomas J. Catalano

Many stores offer perk-filled credit cards, but GameStop Corp. (GME) was the first retailer in the gaming-only niche to do so. The initial reaction from the intended customer base was mixed. The original advertising that “everyone is approved” made some in the gaming community fear that GameStop was trying to lure kids into a debt trap, and the relatively high annual percentage rates (APR) also drew complaints.

Fortunately, standard credit norms apply, and only those aged 18 or over receive lines of credit. The APR range is high compared to regular bank-issued cards, but it remains on par with comparable store cards. Frequent customers may benefit nicely from the rewards program.

key Takeaways

• GameStop is rebranding its PowerUp Rewards Credit Card to the GameStop Pro Credit Card.
• The card will be issued by Comenity, which is a private bank, owned by Bread Financial.
• The GameStop credit card is good only at physical GameStop stores, the mobile app, or the GameStop website.
• Like most merchant cards, the GameStop card carries no annual fee but a high interest rate.
• The card offers holders the ability to accumulate points that can be used for GameStop purchases.

How the GameStop Credit Card Works

The GameStop credit card is a no-fee card available to all with a GameStop account; you do not need to be a Pro Member to have the credit card. The card may only be used at physical GameStop stores or the GameStop website.

The credit line extended depends on each applicant’s credit history, like all credit cards. It is possible to request a higher limit by calling customer service and speaking to a supervisor for manual approval. The customer may pay off the balance in full each month or make smaller payments over time, which will result in interest charges to the balance.

Rewards and Benefits

The GameStop Pro Credit Card allows holders to earn points. Cardholders can earn 4% back in rewards and points don’t expire if you maintain an active credit card. Holders with a Pro membership will earn 40 points for every $1 they spend. This is done by earning 20 points on every $1 for eligible purchases at GameStop and 20 points for every $1 spent at GameStop.

Applicants can visit GameStop.com to apply online. The GameStop credit card is issued by Comenity Bank, which also accepts applications via its website.

Important

It’s advised that credit card holders pay off their balances every month so as to not incur interest charges on their balances.

Alternatives to the GameStop Credit Card

Other traditional stores providing gaming products, such as Best Buy Co. Inc. (BBY), typically offer a rewards percentage and/or cost-free financing plans for using their own store card when making purchases.

Best Buy offers 5% back in rewards, for example on the two cards it offers: My Best Buy Credit Card and My Best Buy Visa Card. The Visa card comes with more rewards on additional items, such as gas, food, groceries, and more.

Who Should Consider the GameStop Credit Card?

Frequent gamers, GameStop customers, and GameStop PowerUp rewards members should consider the GameStop credit card. They can make purchases with the card and make payments on their balance over time. Also, cardholders can earn additional rewards while building or improving their credit.

Does GameStop Have a Credit Card?

Yes, GameStop has a credit card. It has the PowerUp Rewards Credit Card, which will be renamed the GameStop Pro Credit Card. The card will allow holders to earn points that can be redeemed at GameStop.

Can I Apply for a GameStop Credit Card Online?

You can apply for a GameStop PowerUp credit card online at GameStop.com or on the credit card issuer’s website, Comenity.com.

What Credit Score Do You Need for a GameStop Credit Card?

While GameStop does not publicize its minimum score requirements, Comenity (the issuing financial institution) will determine if you are eligible based on your credit history, just like all credit cards.

Where Can I Use My GameStop Credit Card?

The card can be used at GameStop.com, the GameStop mobile app, and GameStop stores in the United States.

How Do I Pay My GameStop Credit Card?

GameStop cardholders can make payments online through the card issuer’s (Comenity) website. All account items can be managed here.

The Bottom Line

If you’re a big gamer, the GameStop credit card can be fun to own. But, given its high interest rate, it’s most lucrative to frequent customers who pay off their balances each month. You can shop in-store or online and earn rewards for your purchases. Adhering to the terms of the agreement will ensure that you avoid late fees and dings to your credit.

Read the original article on Investopedia.