GameStop Plans To Offer Their Own Credit Card… With Ridiculous Interest

I’m not one for giving out credit advice, but I can recognize a bad deal when I see one as blatant as this. If GameStop rolls out the planned credit card off to go along with it’s Power Up program, then it might be a good time for you to drop out of the program.

Destructoid reports that GameStop plans to offer a card with a 26.99% APR. The average APR for a credit card is 14.58%. I don’t expect GameStop to offer an amazing deal by any stretch, but to be almost twice the average is a bit ridiculous.

People will argue that if you pay it off before the grace period, then you’re fine. Sure, that works in theory, but in practice, it doesn’t happen consistently; that’s what credit card companies are hoping for. Obviously, I can’t tell you not to get it, I can just ask you not to. And if you need evidence of this truth, Destructoid provided pictures.

Larry writes for many different gaming news websites, including GameSkinny and Massively. You can catch him weekly on Gamebreaker's The Republic and read from his Star Wars fan site Hyperspace Beacon.
  • Chris Bennett

    I doubt it is actually Gamestop who will be leveraging the debt. They are probably doing it through another company and they are just slapping their name on the front.

    Those cards are traditionally close to 30%. The biggest culprit of this is GE Money.

  • Adam

    It appears to have an annual fee as well.

    • Brandos12

      Actually if you look at the box to the right you see the word “No” which probably says “No annual fee” or “None”

  • Dularr

    Could also be Household Finance. This type of care is typical used for promotional financing offers. Example, buy an Xbox One or PS4 and get no interest if paid off within six months.

    The key is to use the card only for the promotional purchase. Do not use the card for any other purchases.

    Make all required payments on-time and payoff the balance before the end of the promotional period.

    The most outrageous term would include a deferred interest. So, if you fail to pay off the balance within the promotional period, you get charged for the interest for the entire period.