Link to apply for the card and then purchase from an authorized retailer
Here are the actual details about the promotion(s).
This information is given by a very knowledgeable CSR at Sony (who was even reading out the URL's)
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1. http://www.sonyrewards.com/en/gateway/?offerlink=sr150nowps3
a. Apply for the Playstation credit card.
b. Receive the credit card number and CVV2 number upon approval.
b. Purchase a PS3 (using the account and CVV2 numbers) at sonyrewards/SonyStyle and get $150 instant credit.
c. You will also be eligible for a B1G1 Blu-Ray movie
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2. http://www.sonyrewards.com/en/gateway/?offerlink=150newps3
a. Apply for the Playstation credit card.
b. Receive your Playstation credit card by mail.
c. Activate your card by calling the number on the card.
d. Purchase a PS3 at any authorized retailer.
Note: You can purchase PS3 at any authorized retailer even at a discounted price, but I guess it should be at least $299 or more
e. Register your card here.
Note: It could take up to 48 hours for your card to be recorded in their database after card activation
f. Upon registration, you will receive a MIR form by email for a $150 statement credit.
Note: It could take up to 48 hours to receive the MIR form
g. Complete/Submit the rebate form and wait for 8-12 weeks to get the $150 statement credit.
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With either promotion: You will have no annual fee, full Visa Platinum benefits and double your warranty protection.