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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. You won't earn rewards
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 membership program — which you can join without the credit card.
Most people 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. For example the Wells Fargo Active Cash® Card earns 2% back on every purchase.
2. Earning rewards through the membership program will cost you
You can join the GameStop Pro Membership program without having the credit card, but it costs $25 a year. With this paid membership, you'll earn 2% per dollar at the retailer (and more on certain items). You'll also get a one-time $10 enrollment reward, a $5 monthly reward and early access to new console releases, among other perks.
If you spend a significant amount of money at GameStop, it might be worth it to pay for the membership. But again, the rewards you earn are from the membership and not from the GameStop PowerUp Rewards credit card. If you instead paid for the membership and put all of your GameStop purchases on the Wells Fargo Active Cash® Card, you'd earn a total of 4% back on GameStop purchases.
3. 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.
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 September 2023, the variable APR for purchases made with the card can be as high as 32.24%. 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, try to pay your balance on time and in full every month if you can. And if you need to carry a balance, consider a 0% or low-interest credit card that can make it less expensive to do so.