This deal has been around for over a year, its real.

It seems to me a lot of people didn't read the fine print or understand the implications. All I did was bring it to the light of day so people won't get in trouble. That's the point.

ok then :P

But from reading the OP and replies, I think most people in here didn't understand that this is a 199$ PS3.
I think most people took this as the bank taking their house away, which of course is perfectly logical.

It's not a $199 PS3. It's a $299 PS3 with a $100 rebate in a few months.

That is better than a 299$ ps3 isn't it?
At least I thought it was.

Not if you just want a $199 PS3.

Oh, I see. The demand for the 299$ ps3 slim is so great, that anything else, even a 299$ ps3slim with 100$ rebate in a few months isn't good enough.

I guess that means ps3 sales next week will be 300k in NA and all the other consoles will be in the negative. Ok, I'm happy now

I apologize, I made a typo, allow me to fix it.

:P Well the article did say that it wasn't for everyone.
But for some people who were sane and could budget an extra 100$ for a few months, it was a good way to get a ps3 for 199$

The other option was to buy a used for 219, so that's a pretty good option too.

My point in telling people to not take advantage of this deal isn't to deter people from getting a $199 PS3, it's to keep people from taking a bad deal.

1. It will take about 3 months to get the $100 back.
2. The interest rate is going to make that $100 back more like $40-50.
3. You're going to mess with your credit rating possible screwing you in the future.
4. You can probably find just as good as deal with a little searching that won't hold your money in limbo for 3 months and won't mess with your credit.

There's a reason they can offer this deal-- they know the interest is high and they know chances are you will screw up.  Don't let them take advantage of you, find a better deal elsewhere that doesn't have so many strings attached.