Would Be Awesome if Valve Partnered with a Bank for a VISA Platinum Rewards Card

[Fly Guy]

Considering how many games I've purchased from Steam/Valve, I'd have tons of reward points by now!

[Agony]

I would like to see this, something similar to what Sony does with the 'Playstation card'

[Fly Guy]

I would apply for it in a heart beat since I'm obviously a Steam patriot.

I learned of the Capital One Playstation VISA last night and I rejected it because really, how many games am I going to purchase from Sony each year? Not that many. It would just be a wasted inquiry on my credit report.

[Start_Running]

Uhm you know, that whgen you use your visa or any other card with reward you cards to purchase wallet funds or directly purchase games you're already getting your reward points? WHy should steam do what's already automatically being done?

[Fly Guy]

Originally posted by Start_Running:

WHy should steam do what's already automatically being done?

For the very same reason why Chase, Bank of America, American Express, Citi Bank, Discover, etc, each have their very own cash back rewards credit cards, to get people to purchase more than they normally would buy without a credit card to earn more miles/cash back rewards.

[Start_Running]

Originally posted by genghis KHAN:

Originally posted by Start_Running:

WHy should steam do what's already automatically being done?

For the very same reason why Chase, Bank of America, American Express, Citi Bank, Discover, etc, each have their very own cash back rewards credit cards, to get people to purchase more than they normally would buy without a credit card to earn more miles/cash back rewards.

And that benefits steam how? As said. You're already getting reward points

[Fly Guy]

Originally posted by Start_Running:

Originally posted by genghis KHAN:

For the very same reason why Chase, Bank of America, American Express, Citi Bank, Discover, etc, each have their very own cash back rewards credit cards, to get people to purchase more than they normally would buy without a credit card to earn more miles/cash back rewards.

And that benefits steam how? As said. You're already getting reward points

Reward points encourage people to buy more games from Steam to earn rewards. I The more you buy, the more you earn. t's that simple, really.

I'll emphasize it again, credit cards with rewards encourage people to buy more games then they would without it. MORE SALES, MORE PROFIT. That's how Steam benefits from this.

[Start_Running]

Originally posted by genghis KHAN:

Originally posted by Start_Running:

And that benefits steam how? As said. You're already getting reward points

Reward points encourage people to buy more games from Steam to earn rewards. I The more you buy, the more you earn. t's that simple, really.

Excepot to anyone who understands basic math,. The reward points banks give you are only barely offset by the hidden fees they charge you. Besides. Steam already has their sales to increase spending.

[Fly Guy]

Originally posted by Start_Running:

Excepot to anyone who understands basic math,. The reward points banks give you are only barely offset by the hidden fees they charge you. Besides. Steam already has their sales to increase spending.

You do not understand how miles and cash back credit cards work. The merchant has to pay the bank a certain percentage of the customer's transaction. Credit card services are not free for merchants. That's where the funds are coming from to reward the credit card holder, not from hidden fees.

I have numerous miles and cash back credit cards, all with zero annual fee.

Originally posted by Start_Running:

Steam already has their sales to increase spending.

The fact is, rewards encourages people to spend more. MORE IS BETTER. Basic math says, "You don't stop at a certain figure. You do whatever you can to strive to increase revenue."

[JPMcMillen]

Originally posted by Start_Running:

Excepot to anyone who understands basic math,. The reward points banks give you are only barely offset by the hidden fees they charge you. Besides. Steam already has their sales to increase spending.

That's not true. The reward points come from the transaction fees the merchants are charged for accepting a credit card as payment. Every time you buy something with a credit card a small percentage is divided up between the merchants bank, the card issuers bank*, and the cards brand (Visa, MC, Amex, etc...). The bank that issues the card uses their percentage to pay for the rewards you get with your points.

Trust me, I spent 6+ years working for a major credit card company. What most people don't know about credit cards would make a great 'Dummies' or 'Idiots Guide' book.

* With branded cards, in this case Valve, they would either receive a small percentage of the issuers share, or they get paid whenever rewards are cashed in. Either way, Valve would make money.