If you're an avid gamer, using the right credit card can help you turn your rewards into more games or accessories for your preferred platform. Using a credit card for your gaming subscriptions can also help you earn a little bit back each month.
Most credit cards offer statement credits in return for the purchases you make. Statement credits can be used to cover a recent purchase. And with gaming becoming more and more expensive, a card could help cut down on the cost of one of your favorite hobbies. Some cards even offer an introductory purchase APR, which you can use to pay off a large purchase -- say, a $700 console or $1,200 gaming PC -- over time, while the balance accrues no interest.
If you're looking for yet another way to grind out rewards (with less RNG), here's how to choose the best credit card for you.
What makes a credit card good for gamers?
To find the best credit card for gamers, look for a good rewards rate for the purchases you're planning to make and a selection of useful perks like purchase protections and extended warranties. Gaming isn't cheap; having an extra layer of insurance could go a long way when you're buying hundreds of dollars of equipment.
A competitive rewards rate -- whether that's 5% or 2% -- can also help you save money on future gaming purchases. Considering current-gen games are now $70, every little bit helps. And if the card offers an introductory purchase APR, it can help you pay down the cost over a number of months without having to worry about interest.
Here's what to keep an eye out for:
- Rewards for spending: Look for cards that offer cash back or rewards points for each dollar you spend. Certain cards will earn more rewards if they're tied to a specific retailer.
- Flexible redemption options: Make sure you know how you can redeem your rewards. Options could include cash back, merchandise or statement credits.
- Consumer protections: Look for credit cards that offer purchase protection or extended warranties, both of which are offered at no extra charge.
- Intro APR offers: Finally, look for cards that let you avoid interest on new purchases for a limited time.
Pros and cons of credit cards for gamers
✅Pros:
- You can earn rewards for your spending
- Redeem rewards for gaming systems, accessories and games
- Some have benefits specific to gaming
- Some cards have intro APR offers for purchases
- Access purchase protection and extended warranties with some cards
❌Cons:
- Most credit cards come with a high APR
- Potential to get into debt
- Most require good to excellent credit
How to choose the right gaming credit card
Because credit cards for gamers are so varied, it's important to compare the best options side by side. When you do, you can pick and choose the benefits that are most important to you.
Rewards
Where the card earns rewards will likely be a big factor. If it doesn't earn a good rate at the retailer you primarily buy your games from, it's likely not the card for you.
While co-branded cards like those offered by Target, Best Buy, Walmart, PlayStation and Xbox will earn higher rewards with their respective brands, you could instead pick a general card that offer greater flexibility with where you can shop.
You'll probably use your rewards to cover games (I know I do), which means how you can redeem will also play a role in your card choice. Basically, make sure you can redeem your cash back or points for statement credits or gift cards to help cut back on gaming expenses.
Protections
Some credit cards offer purchase protection against damage or theft, extended warranties or both. These benefits can help you get your games or systems repaired or replaced if something happens within a specific length of time.
Virtual card capability
You may also want access to virtual cards or card numbers, particularly if you're making a lot of purchases online. Check whether the credit card you're interested in offers this option or whether they will let you start using a virtual card number once you're approved (and before you get your physical card in the mail).
Intro APR offers
Finally, ask yourself if you want the option to buy gaming equipment with an intro 0% APR for a limited time. If so, you should look at rewards credit cards that have intro APR offers for purchases, balance transfers or both.
How to get the most from your gaming credit card
If you decide to get a credit card for gaming purchases, you can maximize its benefits by using your card to earn rewards on as many purchases as possible. This means charging gaming purchases and other expenses you have -- like gas, groceries, bills and dining out -- to your card all month long, especially to take advantage of any bonus rewards categories your card offers.
Try to earn the card's welcome bonus, if you can. Games are expensive, so if you're planning to use the card for a new console, hitting a spending threshold could be quite easy. Just be sure whatever you charge to your card, you're able to pay off right away.
The most important thing when it comes to credit cards is paying your credit card statement balance in full each month to avoid interest. If you let a balance sit on the card, interest charges can quickly wipe out any value you'd get from the card's rewards.
If you have a card with an intro APR offer, you'll want to make sure you pay your balance down to $0 before the introductory period ends. To figure out how much you'll need to pay, divide the total balance by the number of months in the APR offer. If you carry a balance after the promotional period ends, your card will begin accruing interest on your balance at its regular variable APR.
Alternatives to credit cards for gamers
If you're unsure whether you want to use a credit card for gaming, consider these alternatives:
- Cash-back debit cards: Opting for a cash-back debit card could help you earn rewards on eligible purchases. You also get the convenience of using a debit card for online gaming spending.
- Gaming gift cards: Buying gift cards you can use for online gaming spending is another way to finance purchases made online without a credit card.
- Buy now, pay later companies: Some BNPL companies like Affirm and Klarna let you finance eligible gaming purchases and pay the money back over time without a credit card. However, interest charges and other fees can apply.
How to apply for a credit card
Once you're ready to apply for a credit card, you can do so with the following steps:
- Assess your credit score. Check your credit score online to see where you stand. If your FICO score is below 670, you may need to consider credit cards for fair credit or poor credit.
- Find the best credit card for your needs. Compare the credit cards to find one that has the benefits, rewards or protections you want the most.
- Fill out an application online. Apply for a credit card online by supplying your full name, address, date of birth, Social Security number, household income and monthly housing payment.
- Find out if you're approved. Most credit cards will approve you or deny your card online in a matter of minutes, so you may have your new rewards credit card faster than you think. Sometimes you can add it to your digital wallet right away so you don't have to wait to use it.
FAQs
Is a general rewards credit card better than a co-branded rewards card?
General rewards credit cards aren't necessarily "better" than co-branded rewards credit cards, but they tend to be more flexible.
For example, general cards tend to offer more rewards in everyday spending categories instead of with a specific brand, and they let you redeem your rewards for a range of flexible options.
Should I use a credit card for in-game purchases?
While saving a credit card on your account will make it easier to make in-game purchases, if you have kids, it could also lead to unwanted expenses. If you can, use a virtual credit card. It'll keep your information secure and allow you to cancel the card on a whim.
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