PlayStation® Visa® Credit Card Current Credit Card Agreements

The PlayStation┬« Visa┬« Credit Card Current Credit Card Agreements filing from Comenity Bank sets out a purchase APR of 17.49%–31.49%, no annual fee and a 33.49% penalty rate. The purchase rate sits at roughly the 76th percentile of the 4,587 agreements indexed here.

What the document actually states

Comenity Bank submitted the terms for PlayStation® Visa® Credit Card Current Credit Card Agreements to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs 15 pages.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line. No figure appears for a grace period.

The purchase rate in context

This is a tiered agreement: the filing discloses a purchase APR anywhere from 17.49% to 31.49%, a spread of 14 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

Read against the index, the low end ranks around the 47th percentile and the high end around the 76th — the band straddles a wide stretch of the market this corpus describes.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

What the rate means in dollars

Put $2,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $740.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $492. The gap — roughly $248 a year on $2,000 — is the price of this particular filing over a typical one.

Note the $3 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

Fees, and what triggers them

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Cash advances carry a cash advance fee of 32.49% and a cash advance APR of 32.49%. That is 1 points above the purchase rate. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

Moving a balance onto this card carries an up-front charge of $10 or 5% of the amount transferred, whichever is greater, with the transferred balance priced at 17.49%. Transferring $2,000 would cost roughly $100 at the door.

Foreign transactions attract 5%. On $2,000 of overseas spending that is $100, charged on top of whatever exchange rate applies.

That is at the high end of this corpus — around the 99th percentile of disclosed foreign transaction fees.

The no-interest path

A minimum interest charge of $3 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

What a missed payment costs

A penalty APR of 33.49% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 69th percentile.

Measured in money, moving from 31.49% to 33.49% costs an extra $83 or so annually on $3,000 — a far larger number than any single late fee.

The maximum late fee is $41 — roughly the 89th percentile of the late fee ceilings disclosed across this index.

The issuer's other agreements

This is one of 45 Comenity Bank agreements collected here. Their disclosed purchase rates run from 30.24% to 35.99%, and this one at 31.49% is more expensive than 2 of them.

14 of the issuer's other 41 disclosing filings are likewise fee-free.

What the filing does not tell you

Absent from the captured terms: a grace period. The original document is the place to look for any of these.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Where the authority sits

The original filing, 15 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

31.49% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.