Sony Card from Capital One® Review
If you regularly purchase electronics or have been waiting to buy that new TV, the Sony Card from Capital One® may be the right choice. No annual fee and competitive introductory rates should make up for the lack of additional benefits provided by the card.
Competitive point offerings
As you might expect, the Sony Card from Capital One® offers great rewards associated with Sony purchases. You will receive five points for every dollar you spend on Sony products at Sony stores, Sony.com, and other authorized Sony retailers. In addition, you receive 3 points per dollar on dining out and the movies, and 1 point per dollar on all other purchases.
Many rewards cards offer some form of bonus for signing up for the credit card. However, you generally have to reach a certain spending point in order to be eligible. The Sony Card from Capital One® includes a bonus, and it is relatively easy to earn. Once you receive your card and register for the Sony Rewards program online, you have 90 days to make a purchase through SonyRewards.com. After this first purchase, you will receive 5,000 bonus points to your account.
No annual fee
With a specialized rewards card like the Sony Card from Capital One®, an annual fee might be a deal breaker. Unlike some competitor rewards cards, the Sony Card from Capital One® does not have an annual fee. This allows you to earn the great Sony rewards, and not have to worry about whether or not the card is worth it.
Decent introductory rates
With rewards cards, finding a 0% introductory interest rate is not very difficult. What does vary is the length of time the 0% interest rate is available. The Sony Card from Capital One® offers a 0% introductory APR until April, 2014. This could potentially give you plenty of time to make a decent-size purchase and then pay off the balance without ever paying interest.
Missing some additional benefits
Credit card companies often include benefits that accompany card ownership. Some of these benefits include things like roadside assistance and travel insurance. The Sony Card from Capital One® does include several benefits, but when compared to some of the other major rewards cards, it does come up a bit short. If additional benefits are particularly important to you, the Sony Card from Capital One® may not be the best fit.
Limited redemption options
The Sony Card from Capital One® is a specialized credit card that offers amazing benefits when it comes to Sony electronics. One drawback of a specialized card is that the redemption options are relatively limited. A standard rewards card will often allow you to redeem points for airline tickets, car rentals, hotel rooms, and a variety of other merchandise. The Sony Card from Capital One® is not the right choice if you are interested in a broad set of redemption options.
Rates and Fees
- Annual Fee: $0
- Cash Advance Fee: $10 or 3% per cash advance
- Cash Advance Rate (APR): 24.9%
- Foreign Currency Transaction Fee: None
- Introductory Rate (APR): 0% through the end of 2013
- Standard Rate (APR): 13.9% - 24.9%
- Default Penalty Rate (APR): 29.4%
- Late Payment Fee: Up to $35
- Minimum Interest Charge: $0.50
- Over-Limit Fee: None
- Returned Payment Fee: Up to $35
- Introductory Balance Transfer Rate (APR): None
- Standard Balance Transfer Fee: None
- Standard Balance Transfer Rate (APR): 13.9% - 24.9%
- Additional Rewards for Dining: 3 points per $1
- Additional Rewards for Gas: None
- Additional Rewards for Groceries: None
- Additional Rewards for Shopping: None
- Additional Rewards for Travel: None
- Bonus Points Offered: None
- Rewards Earnings for All Purchases: 1 point per $1
- Sign-Up Bonus: 5,000 points after first purchase
- Type of Reward: Points