In Bad Need of a New Revenue Stream, GameStop to Launch High Interest Credit Card
If I could describe what most people think of GameStop, I'd have to call the company "Comcast Video Game Retailer". The fact is, a lot of people just don't like the company's shenanigans, of which there have been many over the years, and given the way the industry is moving towards digital, you'd imagine that it might want to backtrack on its poor moves and start working towards impressing people. Not so, apparently.
Destructoid has learned that GameStop's latest money-making venture is a credit card, and one that carries an insane interest rate of 26.99%. That's a higher interest rate than most first-time card-holders have to deal with, and is more than double the market average of 13%. Buy a $60 game and wait a month to pay it off? That $60 will become $76.20. That's just one month and one purchase - it doesn't take a gaming scientist to realize what kind of trouble that could cause inexperienced credit users.
GameStop's card will offer a couple of perks to its users, although those are unclear at this point. Signing up for a basic card nets you 5,000 "points", while signing up for the $14.99/yr "Pro" card boosts that to 15,000.
"Get it TODAY and pay over time" - yes, GameStop is certainly hoping that you'll make good use of that "over time" ability. I hope not many fall into this alluring trap.