The Sony Credit Card from Chase is The Ideal Choice For Electronic Enthusiasts
If you love buying electronics, you may want to apply for this card. This can be a problem as Sony has again changed the lending bank for their credit card offers.
After several years with Citibank, Sony moved its credit card business to Chase and now offers accounts with Capital One as the lender. This may sound confusing but it is a frequent occurrence in today's highly competitive credit card lending market.
Buyouts and mergers have results in the great majority of credit cards being administered by a small number of large lending institutions. Citi, Chase and Capital One are a few of the largest banks in the credit card industry today.
This card is now issued by Capital One but application for a new account can be (still) accessed through the former portal that was used by Chase.
Sony is a tremendously popular brand for everything from televisions, home theaters, VAIO desktops and notebook computers. When you consider the name Sony is linked to Walkmans, cameras, memory sticks and musical equipment, you realize how valuable discounts might be!
Though the lender has changed the same bonuses offered are now available to you when you sign up for a Citi Sony card account. You can earn up to $200 in store credits simply by making purchases with the Sony Visa credit card.
Improvements have been made to the management offered by this card. Citi has simplified the ability to check points online and you can now easily view your point balance and redeem points with as few as 1000 points earned.
Whenever you buy a piece of equipment with the Sony brand you earn 3 points for each dollar you spend. Considering the cost of electronics, these points can mount quickly. If you buy a Sony Playstation 3 or Bu Ray Technology you can purchases all the games you need with this card and earn maximum points.
New customers can receive 5,000 bonus points which is equal to a $50 Sony gift card. For some time the Chase Sony credit card was offered while the Citi branded card was being introduced. All Sony credit accounts are now applied for and managed through Citi. There is no annual fee for these accounts.
Spending limits on the Sony card from Chase were widely varied from $200 to as high as $20,000 for qualified applicants. This has not changed with the credit accounts offered through Citi. The APR is from 13.9%-24.9% depending on creditworthiness.
Only the best qualified applicants will receive the lowest rates but the APR is in line with other consumer credit offers from major lenders. Unlike some retail brand name credit cards, Sony cards do not carry excessively high interest rates.
If you make a late payment a penalty APR of 29.4% may be applied to your account even if your credit card interest rate was initially 13.9%. This higher penalty rate will be removed if you make the next six consecutive payments in a timely manner after the rate has increased.
The Sony card from Chase has led to many consumer complaints about the difficulty of getting information on the points earned on the accounts. Account holders could not access management tools readily and complained of lack of transparency when trying to use accumulated rewards.
Those problems seem to have been addressed with the change from Chase to the new cards provided through Citi. Enhanced management tools and user friendly reporting of reward points and redemption options have been well received by Sony account holders.
The Chase Sony credit card is now the Citi Sony Visa card. This has had positive results for consumers as the Sony card rewards are now easier to track and to redeem.
Unlike many retail chains, the Sony credit card offers a competitive interest rate and provides big bonuses for those who frequently buy electronic products.