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The GameStop PowerUp Rewards credit card, issued by Comenity Bank, might sound appealing to gamers looking for a way to power-up their savings. But unfortunately, in gaming parlance, this card is pretty well nerfed.
It can be used only at brick-and-mortar GameStop stores or on the retailer’s website, and even the most loyal GameStop shoppers won’t be able to rake in valuable benefits by using it. Any other number of credit cards targeted to gamers would be a better choice.
Here are five things to know about the GameStop PowerUp Rewards credit card.
1. Don’t look for a loot box
There’s no Easter egg with this card. The GameStop PowerUp Rewards credit card doesn’t offer any rewards on spending beyond those you would earn from the retailer’s PowerUp Rewards program — which you can join without the credit card.
PowerUp Rewards members will earn 10 points per every $1 spent at GameStop. You can also purchase a PowerUp Rewards Pro membership, which costs $14.99 per year and earns you 20 points per every $1 spent at the retailer. A Pro membership also comes with a one-time $10 enrollment reward, a $5 monthly reward and early access to new console releases, among other perks. Points are worth a tenth of a cent each and can be redeemed for rewards certificates.
PowerUp and PowerUp Pro memberships can earn you small perks and very modest savings. However, because you don’t need the GameStop PowerUp Rewards credit card for membership, the card alone doesn’t provide any value in terms of rewards, nor does it currently feature any exclusive offers for cardholders.
Most consumers would be better off considering a general cash-back credit card that earns rewards in a variety of spending categories and that offers flexible redemption options. Or consumers could consider a low-interest credit card that can help finance the cost of a new console or a fresh pile of games.
2. Online or AFK, it’s only accepted at GameStop
Holders of the GameStop PowerUp Rewards Credit Card can use the card only to make in-store or online purchases with GameStop. Unfortunately, this means that the card is effectively useless for any purchases outside of GameStop.
And again, even if you do a significant amount of shopping at GameStop, you won’t earn rewards for using the card there. So there’s not much value in using the card at the retailer either.
3. You can pull a Leeroy Jenkins and charge immediately
Jenkins didn’t wait to pounce, and you won’t have to either. The GameStop PowerUp Rewards card can be used instantly, meaning you don’t need the physical card to arrive in your mailbox first.
According to the issuer, a card number will be presented to cardholders at the time of approval.
Instant access isn’t a given for most credit cards, although it’s a feature that’s becoming more popular.
4. It doesn’t have an annual fee, ideal for your XP
The card doesn’t cost anything to carry, which is good for credit noobs and can make it easier to keep a card for longer. Length of credit history, which is how long an account has been open, is a significant factor in your credit scores.
Generally, keeping a credit card open and in good standing can positively impact your credit.
5. Carrying a balance can inflict damage over time
As of November 2021, the variable APR for purchases made with the card can be as high as 26.99%. This is significantly higher than the average APR charged for cards that incur interest, making it costly to carry a balance from month to month.
To avoid getting charged interest, pay your balance on time and in full every month if you can. If your financial situation makes it necessary for you to carry a balance, consider a low-interest credit card that can make it less expensive to do so.
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