Playstation Credit Card: New Arbitration Rules, Late Fees, and Your Personal Info

Do you have a Playstation credit card? Keep reading.

Those of you who have Playstation credit cards will be getting an email shortly that you will most likely throw out because it says “important information about changes to your Playstation Card Account” and who ever pays attention to that boring garbage? Thankfully you have me, budding lawyer, to read the boring documents for you. You might also have opened the mail because it was sent by Comenity Bank, and they have nothing to do with the Playstation credit card. Well they didn’t anyway.

Comenity Bank is taking over Playstation’s credit card from Capital One, maybe because of that massive data breach. This all goes into effect in November 2019. Comenity is a brand under Alliance Data Card Services and used to be known as World Financial Capital Bank and World Financial Network [National] Bank. You may remember them because in 2011 company executives were called in to testify to Congress about a data breach.

So what does this change mean for you, you savvy handsome consumer? Well it means that your Capital One card is going away as of November 9 when it will be shut off and fully replaced with the new Playstation card. It also means that your Capital One Premium Access is going away. You will of course need to update your automatic payments as your new card will have different numbers and expiration dates. Paperless billing will need to be reset.

Those of you worried that you might need to sue Comenity Bank at some point in the future should be aware that while Capital One did not have forced arbitration, Comenity Bank absolutely does. Comenity won’t demand arbitration for small claims court lawsuits. Thankfully you have the right to reject the arbitration provision. Unfortunately it isn’t as easy as logging in and clicking a button. Thankfully it’s a lot easier than you may think. You don’t even need to consult an attorney.

Just fill out this Madlib with your information:

Your name
Your Address
Your Phone Number

Comenity Bank
PO Box 182422
Columbus Ohio, 43218-2422

To whom it may concern,

I, [insert name], reject the agreement to arbitrate as is my right in section C(1) of the Arbitration and Jury Waiver of the Dispute Resolution Provisions of the terms of service. Please confirm receipt of this letter and update my account accordingly.

[First name, last name]
[Account Number(s)]
[Billing Address]

Thank you,
[Your name]

Important to note is that you must sign the paper otherwise it is not binding. If there are multiple people on the card, they must all sign. It must also be sent within 30 calendar days after you receive notice that you have a right to reject the arbitration provision. In other words, when you receive this letter you probably threw out. Mail your notice here:

Comenity Bank
PO Box 182422
Columbus Ohio, 43218-2422

So why would you opt to arbitrate instead? Wellllllllll Comenity does have a provision that any arbitration hearing must take place in a location reasonably convenient to you. Comenity will also pay any and all fees of the arbitration including the arbitrator, reasonable attorneys fees and expert fees if you prevail, if it is required to enforce the arbitration, or if the law requires it. If you lose, you’re on your own which granted is probably still cheaper than a trial. It still should be noted that rejecting the arbitration agreement does not mean you lose the right to arbitration. But by not rejecting it, you definitely lose your right to a jury trial.

In regard to your personal information, Comenity Bank can and will share personal information and you can’t opt out of all of it. For example Comenity uses your personal data for processing transactions, reporting to credit bureaus, offering their own products to you, joint marketing with other financial institutions, and providing affiliates with information about your transactions and experiences. You can’t opt out of any of that.

You can opt out of information being provided to affiliates regarding “information about your creditworthiness” as well as information allowing affiliates and nonaffiliates to market to you. In order to limit your sharing, call 1-800-220-1181 (or 1-877-287-5012, the notice isn’t clear). For Capital One crossovers, you have 30 days until Comenity starts sharing your details. If you cancel your card without opting out, they will still share your info.

Finally the provisions are changing regarding late fees. For most people the late fee on the Playstation Credit Card should be $35. Under Comenity the late fee will be $29 for the first occurrence and then $40 for any subsequent occurrences within six billing periods.

So if you have a Playstation credit card, keep an eye on your mail. You’re going to need to get that rejection letter in in a timely manner otherwise you will lose your right to a jury trial.

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