The Xbox credit card, which was announced in September, is now available to a select set of users in the United States. It’s the first Xbox credit card, and there are quite a few particulars you might want to know about before applying for it. We’re rounding up all the key details on the Xbox credit card here to help you decide if it’s a worthwhile investment. Bear in mind, this is a brand-new card so there are not yet any user reviews. And as usual, with any type of financial decision, it’s important to do your research and carefully consider your options.
What is the Xbox Mastercard?
The Xbox Mastercard is a credit card created by Microsoft in partnership with Barclays, the bank that also backs JetBlue’s popular credit card. The Xbox Mastercard allows cardholders to make purchases on whatever they want, with Barclays providing the funds up front and the user paying their statement each month to avoid interest charges, late fees, and other expenses. The card also comes with a variety of bonuses and perks for spending, which we’ll dig into.
How can I apply?
The Xbox Mastercard is available in the US only, and as of right now, only Xbox Insiders are eligible. The Xbox Insider program is free and open to everyone, and in addition to perks like being the first to get an Xbox Mastercard, it also lets you test Xbox updates before everyone else, among other perks.
To get started, first join the Xbox Insider program, sign in with your account details on the Xbox Mastercard website, and then complete the applications at Barclays’ website. If you’re accepted, you’ll receive a card and can start shopping and accumulating points.
Xbox Insiders can visit the Preview tab of the Xbox Insider hub, and if you’ve been invited, you will see “Xbox Mastercard” listed as an option. Microsoft says the Xbox Mastercard is rolling out in waves, so if you’re not invited right away, keep checking back. The card will become available to the general public in 2024.
What is the points system?
Like other credit cards, the Xbox Mastercard allows users to earn “card points” on their purchases. The categories for the Xbox Mastercard are, naturally, themed around gaming and entertainment. Here is a rundown of the points system:
- 5x points on purchases from the Microsoft Store
- 3x points on streaming services like Netflix and Disney+
- 3x points on dining delivery services like DoorDash and GrubHub
- 1x points on everyday purchases
There are some noteworthy exceptions here. The 5X points offer covers games sold on the Microsoft Store for Xbox and PC, as well as the Xbox Design Lab. But it does not cover in-game purchases like virtual currency, nor does the 5X point bonus apply to the Xbox Gear Shop, the official Bethesda Gear Store, or third-party retailers.
For streaming and dining services, most of the big ones are accounted for, but it’s not an exhaustive list of literally every streaming and dining service out there. Microsoft says the value of 5,000 points is about $50, which means every point is worth about one cent. Here is a rundown of the eligible streaming and dining services:
Video Streaming Services
- Amazon Prime Video
- Apple TV
- Crunchyroll
- discovery+
- Disney+
- ESPN+
- fuboTV
- Hulu
- Hulu + Live TV
- Netflix
- Paramount+
- Peacock
- Philo
- Showtime
- Sling TV
- Starz
- Vudu
- Willow TV
- WOW Presents Plus
- YouTube Premium
- YouTube TV
Music Streaming Services
- Amazon Music Unlimited
- Apple Music
- iHeartRadio
- Pandora
- Qobuz
- SiriusXM
- SoundCloud
- Spotify
- Tidal
- YouTube Music
Audiobooks/Ebook Streaming Services
- Audible
- Kindle
- Kobo
Dining Delivery Services
- Caviar
- ChowNow
- Delivery.com
- DoorDash
- Goldbelly
- Grubhub
- OrderUp
- Postmates
- Seamless
- Uber Eats
What can I redeem points on?
Xbox Mastercard points can be redeemed to purchase games and add-ons through Xbox.com. These are not direct purchases, however, as the point redemption comes in the form of a credit on your next billing statement. Also of note is that Xbox Mastercard points and any balance of Microsoft Rewards points you might have are not combinable. However, cardholders will continue to earn Microsoft Rewards points and Xbox Mastercard points when they use the Xbox Mastercard on eligible purchases.
Free Game Pass
Another pretty nice perk of the Xbox Mastercard is that it comes with three months of Game Pass Ultimate for new subscribers. You will receive the bonus after your first purchase. Existing Game Pass Ultimate members are not eligible. But they will still get the bonus that they can then give to a friend. Xbox Game Pass Core members are eligible, however. This includes anyone who was an Xbox Live Gold member before that subscription was converted to Game Pass Core in September.
Other perks
After your first purchase with the Xbox Mastercard, you will receive a bonus of 5,000 card points (worth about $50 USD) and the aforementioned free Game Pass Ultimate code.
Additionally, your physical Xbox Mastercard can be customized with one of five designs featuring the iconic Xbox logo and an assortment of different colors. The card supports contactless payments and can be loaded onto your smartphone. The Xbox Mastercard also promises fraud liability protection and the ability to check your FICO score for no fee or impact your score.
Annual fee, APR, and other fees
The Xbox Mastercard has no annual fee. The annual percentage rate (APR) is 20.99%, 26.99%, or 31.99%, depending on your credit history. The same rates are in place for balance transfers, while the APR for cash advances is 32.49% with the Xbox Mastercard.
Cardholders can avoid paying interest on purchases by paying their statement balances in full on time. For the Xbox Mastercard, the due date is at least 23 days after the close of each billing cycle.
For balance transfers, members will pay either $10 or 5% of the transfer, whichever is greater. For a cash advance, the fee is $10 or 5% of the amount, whichever is greater. Another key thing to know is the Xbox Mastercard has a 3% fee for foreign transactions. The late and returned payment fees are $41, though the amount varies by state.
The fine print
Any decision about banking and finance is worth taking the necessary time and effort to thoughtfully and carefully consider. Although this Xbox Mastercard is brand-new, the wealth of information that can be found online and with in-person financial experts can help you make a decision on whether or not this card is a worthwhile investment for you.
You may also want to consider reading over the entire fine print and terms and conditions from Barclays to make sure you know what you’re getting into.
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