Sounds like a win-win for everybody: gamers earn points toward free gaming merchandise and GameStop gets customers who are enabled to buy bigger gaming purchases. But an upcoming credit card that will be offered by gaming retail giant GameStop will hit its customers with a high interest rate of 26.99 percent APR.
The marketing materials for this credit card were obtained by Destructoid. The images show that this 26.99% figure could change, "This APR will vary with the market based on the Prime Rate."
Destructoid notes that the average interest rate for credit cards currently is 13% APR, nearly half of what this card will reportedly offer.
So with such a high interest rate that will result in people paying a lot more for game consoles and games, what is the advantage? Signing up for the cards will give members of GameStop's loyalty program bonus points. Basic Power-Up members will get 5,000 points and Pro Power-Up members will get 15,000 points. Pro members pay $14.99 per year for extra discounts on games, contest entries and a subscription to "Game Informer" magazine.
What do such loyalty points get you? Currently, from 6,200 to 29,500 points can be traded in for a variety of "Star Wars" merchandise, including a Yoda cup or a Boba Fett necklace. A better gauge may be that 6,000 points will net you a one-time coupon of 25% off of the price of a used handheld game, such as one for Nintendo 3DS or PlayStation Vita.
The marketing material for the credit card does mention "Special financing offers" that may temporarily lower the APR or give extended interest-free periods for purchases on the credit card.
As Tech Times previously reported, the retail company will soon begin funding actual game development, to insure exclusive game content for sales of games from its stores.
GameStop is one of the largest video game retailers worldwide. The company's revenue for 2103 Fiscal Year was over $9 Billion.
Photo: Mike Mozart
