With Sony executives Lin Tao and Hiroki Totoki warning this week of potential US price hikes on PlayStation 5 consoles due to looming tariffs, I decided to immediately upgrade to the PS5 Pro to beat the impending financial hit. During Sony’s latest earnings call, Sony CFO Lin Tao stated that the company is evaluating passing tariff expenses directly to consumers. Concurrently, Sony President Hiroki Totoki indicated that the tech giant might relocate some PlayStation 5 manufacturing to the US to bypass these duties entirely.
When I made the jump from my standard PS5 in April, my decision was heavily influenced by the threat of rising tech prices under President Donald Trump’s proposed tariffs. Since then, import duties on China—where the majority of PS5 consoles are manufactured—have fluctuated, dropping from 145% to 30% for a temporary 90-day window.
The Rising Cost of Modern Gaming
Tariffs are only part of a broader upward trend in gaming costs. Industry giants are already adjusting their pricing structures. For instance, alongside the highly anticipated announcement of the Switch 2 release date, Nintendo confirmed that select first-party titles will carry an $80 price tag, up from the traditional $70. Microsoft followed suit, raising the retail price of Xbox consoles and announcing that game prices will increase starting this holiday season.
With both competitors openly signaling that players will have to pay more for hardware and software, Sony is highly likely to adjust its pricing soon. While I originally planned to wait for a Black Friday or Prime Day discount on the $700 PS5 Pro, the volatile market changed my strategy. Buying early secured the hardware before potential retail price spikes hit shelves within the year.
Last month, I transitioned from my original, digital-only PS5 to the Pro model. Here is why I made the move and the financial strategy I used to make the purchase manageable.
Why the PS5 Pro Upgrade Justified the Cost
The PlayStation 5 Pro brings notable hardware upgrades over the base model, featuring a spacious 2TB solid-state drive, a significantly more powerful GPU, advanced ray tracing capabilities, and AI-driven upscaling via PlayStation Spectral Super Resolution (PSSR). Crucially, the console targets 4K resolution at 60 frames per second, eliminating the need to choose between performance and visual fidelity modes.
While these technical enhancements are impressive, the primary catalyst for my purchase was financial foresight. Knowing that a price hike is highly probable over the next year, upgrading now while I had the financial flexibility made the most sense.
When Will the PS5 Pro Price Actually Increase?
Pinpointing an exact date for a price hike is difficult. For tariff-related adjustments, retailers must first deplete their existing, pre-tariff inventory before importing new stock at higher tax rates.
However, we can look to competitors for timing clues. Microsoft raised the recommended retail price of the entry-level Xbox Series S (512GB) by $80, and the premium Xbox Series X (1TB) by $100, bringing their respective costs to $380 and $600. These changes took effect on May 1, with game price increases slated for this holiday season. If Sony follows a similar pattern, console price adjustments could arrive within a comparable timeframe.
Can You Find the PS5 Pro on Sale?
Given its recent launch, direct discounts on the PS5 Pro are highly unlikely at major retailers. While some independent shops might offer minor promotions, stock is bound to sell out instantly.
Instead of looking for straight discounts, the most practical way to lower the net cost is through retail trade-in programs at stores like GameStop, which frequently run promotional trade-in events.
My Strategy for Affording the $700 Console
To avoid overspending, I combined trade-ins with strategic credit card usage to offset the retail price.
Maximizing Trade-In Values
Before purchasing, audit your current setup. I traded my original digital PS5, an old PS4 Slim, and several physical PS4 games to GameStop during a promotional period that offered a 15% trade-in bonus. Alternatively, selling directly on platforms like eBay or Facebook Marketplace can also yield strong returns.
This trade-in package reduced my out-of-pocket cost for the PS5 Pro to approximately $300. Offloading unused hardware that was sitting in my closet made the upgrade far easier to manage financially. I can always purchase the external disc drive for the PS5 Pro later if I decide to collect physical media again.
Using Cash-Back Rewards
I charged the remaining $300 balance to my Wells Fargo Active Cash® Card, which earns a flat 2% cash back on all purchases. This generated a modest $6 return. More importantly, because I did not use a card with a 0% introductory APR, I paid the balance in full before the statement due date to avoid any interest charges.
Smart Financing Alternatives for Upgrading
If you do not have older consoles to trade in, there are other financial strategies to make the $700 price tag more manageable.
Leveraging 0% APR Credit Cards
Opening a new credit card with a 0% introductory purchase APR allows you to spread the cost over several months without interest. This strategy only works if you pay off the entire balance before the promotional period ends; otherwise, you will face standard interest rates that often exceed 20% APR.
For example, the Blue Cash Everyday® Card from American Express offers a 15-month 0% introductory APR on purchases (followed by a variable APR of 20.24% to 29.24%). It also provides 3% cash back on U.S. online retail purchases (up to $6,000 per year, then 1%). Utilizing this card to purchase the PS5 Pro online would allow you to pay roughly $47 per month over 15 months to clear the balance interest-free (see rates & fees; terms apply).
Additionally, welcome bonuses can provide immediate relief. The Prime Visa offers an instant $150 Amazon gift card upon approval with no spending requirement, alongside 5% cash back on Amazon purchases (requires an active $139 annual Prime membership). Meanwhile, the Blue Cash Everyday card offers a $200 statement credit after spending $2,000 within the first six months of account opening.
Pro Tip: Watch Out for Gift Card Exclusions
If you plan to maximize credit card rewards by purchasing retail gift cards to fund your console, check your card’s terms. Issuers like American Express and Wells Fargo frequently exclude gift card purchases from earning cash-back rewards or meeting welcome bonus spending requirements.
Using Buy Now, Pay Later (BNPL) Services
Major retailers like Amazon and Best Buy offer structured Buy Now, Pay Later plans. Amazon partners with Affirm, allowing you to split the $700 purchase into four bi-weekly payments of $175 (excluding taxes). This process requires a soft credit check that does not impact your credit score. GameStop offers similar options through Klarna, Zip, and Afterpay.
Before choosing a BNPL plan over a credit card, consider these trade-offs:
- BNPL services do not earn cash-back rewards or points.
- On-time BNPL payments generally do not help build your credit score, though missed payments can actively damage it.
- You lose out on credit card purchase protection, which typically covers new items against theft or accidental damage for 90 to 120 days.
A hybrid approach can work well: apply for the Prime Visa to secure the instant $150 Amazon gift card, reducing the console price to $550, and then utilize Affirm to pay the remainder in four bi-weekly installments of $137.50.
The Verdict: Was the Early Upgrade Worth It?
After a month of use, the PS5 Pro has delivered noticeable improvements. The expanded 2TB storage capacity is highly convenient, and games like Assassin’s Creed: Shadows, Returnal, and The Last of Us: Part 2 show clear upgrades in both visual fidelity and frame rate stability.
Had the threat of rising prices not been a factor, waiting for a holiday sale would have been the preferred route. It is critical to avoid credit card debt when purchasing luxury electronics. If the price tag is too high, purchasing a refurbished base PS5 remains an excellent, budget-friendly entry point to current-gen gaming.
*All information about the Wells Fargo Active Cash® Card and Prime Visa has been collected independently by CNET and has not been reviewed by the issuer.