How to Apply for Xbox MasterCard?

What is an Xbox Mastercard?

The Xbox Mastercard is a unique credit card that caters to gaming enthusiasts. With this card, cardmembers can accumulate valuable points through their regular purchases, which can then be redeemed for games and add-ons directly on xbox.com. One of the notable features of this card is its lack of an annual fee, making it a cost-effective choice for those who frequently engage in Xbox gaming.

To access the Xbox Mastercard, it is initially available exclusively to Xbox Insiders residing in the continental United States, including Alaska and Hawaii, starting from September 21. Becoming an Xbox Insider is the first step to unlock the benefits of this credit card. By visiting the Xbox Insider Program, interested individuals can explore this unique financial offering, designed to enhance their gaming experience and rewards.

How to Apply for Xbox MasterCard?

To secure the Xbox MasterCard, designed for avid gamers and available exclusively to Xbox Insiders, follow these straightforward steps. The rollout of this credit card will occur gradually throughout the fall season. Start by accessing the Xbox Insider Hub app on your Xbox or Windows PC and navigate to the Previews section. Within the Previews, locate the Xbox MasterCard Preview and opt to join. By taking this step, you express your interest in acquiring the Xbox MasterCard, tailored for the gaming community.

The Xbox MasterCard is accessible to Xbox Insiders residing in the continental United States, encompassing Alaska and Hawaii, starting from September 21. Should you aspire to become an Xbox Insider and gain access to this card, you can initiate the process by visiting the Xbox Insider Program. This innovative financial offering enhances the gaming experience for Xbox enthusiasts and provides unique opportunities for rewards and benefits associated with the Xbox ecosystem.

How to Become an Xbox Insider?

Keep in mind that only the previews you're eligible for will appear in the Previews section of the Xbox Insider Hub. The Xbox Insider Program is a way for dedicated Xbox enthusiasts to provide feedback on the latest system updates, features, and games in development for both Xbox consoles and Windows 10/11 devices. As an Xbox Insider, you can choose your level of involvement, whether focusing on PC or Xbox, system updates, or games.

Your participation may unlock access to more Insider content previews based on your interests, Xbox Insider XP score, tenure as an Xbox Insider, and the activities you engage in. Join the Xbox Insider Program to help shape and improve upcoming Xbox content and features by completing quests, surveys, and reporting issues to developers.

To become an Xbox Insider, follow these simple steps:

On an Xbox console

• Navigate to the Store on the Home screen or select Store in the guide.
• Choose Search and enter "insider" in the search box.
• Locate and select the Xbox Insider bundle.
• Click on Get or Install to install both the Xbox Insider Hub and the Report a Problem app.

On a Windows device

1. Press the Start button and type "store," then select Microsoft Store.
2. Select Search and enter "insider" in the search box.
3. Find and select Xbox Insider Hub.
4. Click on Get or Install to download it.

Each Xbox Insider content preview may have specific participation requirements. To view these requirements, follow these steps:

• Launch the Xbox Insider Hub.
• Go to Previews.
• Select the specific preview you're interested in.
• Read the eligibility requirements on the Info tab of the Insider content details page.

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Xbox Mastercard Benefits and Rewards

 With an array of rewards and benefits, this card offers an opportunity to earn valuable points on everyday purchases and unlock exciting perks, making it a valuable addition to the gaming community. The Xbox Mastercard offers players a chance to earn card points for every $1 they spend on various purchases, including:

• Xbox & Microsoft - Earn 5X card points on eligible products at the Microsoft Store.
• Streaming Services - Earn 3X card points on eligible streaming services like Netflix® and Disney+®.
• Dining Delivery Services - Earn 3X card points on eligible dining delivery services such as Grubhub® and DoorDash®.
• Everyday Purchases - Earn 1X card points on all other everyday purchases.

In addition to these benefits, cardmembers can enjoy a bonus of 5,000 card points (equivalent to a $50 value) after their first purchase. They also receive three months of Xbox Game Pass Ultimate for new Game Pass members or can gift it to a friend if they are already a Game Pass member. Cardholders have the flexibility to choose from five iconic card designs, with the option to personalize it with their gamertag.

The card supports contactless payments and digital wallets, offers free online access to cardmembers' FICO Credit Score for monitoring their credit, and provides $0 Fraud Liability protection to safeguard against unauthorized charges. The Xbox Mastercard is a no annual fee credit card designed to help players get more value from their Xbox-related purchases and is available to Xbox Insiders in the 50 United States. It will be rolled out to all Xbox players in the 50 United States in 2024.

What is the Annual Fees for Xbox Mastercard?

The Xbox Mastercard comes with no annual fee, meaning you won't be charged a yearly cost just for having the card. However, it's important to note that there are other fees associated with the card, such as balance transfer fees, cash advance fees, and foreign transaction fees. Late payment and returned payment fees can also apply, with the specific amount varying by state.  here are the other charges associated with the Xbox Mastercard:

Transaction Fees

Balance Transfer: Either $10 or 5% of the amount of each transfer, whichever is greater.

Cash Advance: Either $10 or 5% of the amount of each cash advance, whichever is greater.

Foreign Transaction: 3% of each transaction in U.S. dollars.

Penalty Fees

Late Payment: Up to $41 (the amount of the fee varies by state).

Returned Payment: Up to $41 (the amount of the fee varies by state).

To avoid paying interest on your purchases, make sure to pay your entire balance by the due date each month, as interest will be charged if you carry a balance. So, while there's no annual fee, it's essential to be aware of these other potential charges associated with the Xbox Mastercard.

Pros and Cons of the Xbox Mastercard

Like any financial tool, it comes with its own set of advantages and disadvantages. Here we'll see the pros and cons of this gaming-centric credit card to help you decide if it's the right fit for your gaming and financial needs. 

Pros of the Xbox Mastercard

No Annual Fee: The Xbox Mastercard does not burden you with an annual fee, ensuring that you can maximize your rewards without extra costs.

Exclusive Rewards: This credit card offers unique rewards tailored for Xbox users, making it one of the few cards designed with gamers in mind.

Competitive Point Multiplier: You can earn generous rewards on eligible purchases from the Microsoft Store, as well as competitive rates for streaming and dining delivery services.

Cons of the Xbox Mastercard

Limited Redemption Value: The rewards earned with this card can only be used for Xbox purchases and are not applicable to recurring subscriptions.

Ultra-High APR: The card carries a high APR, ranging from 20.99% to 31.99%, depending on your creditworthiness. It's essential to pay your balance in full to avoid costly interest charges.

Exclusivity: The Xbox Mastercard is exclusively available to Xbox Insiders until an undisclosed date in 2024.

Automatic Subscription Charges: If you do not cancel your subscription after three months, you will be automatically charged $16.99 per month for a Game Pass Ultimate membership. Be mindful of this recurring cost.

What is the Annual Interest Rate for Purchases for Xbox Mastercard?

The Xbox MasterCard has variable Annual Percentage Rates (APRs) for different types of transactions. The APR for purchases can be 20.99%, 26.99%, or 31.99%, depending on your creditworthiness. For balance transfers, the APR is also 20.99%, 26.99%, or 31.99%. Meanwhile, the APR for cash advances is 32.49%. These APRs may vary with the market based on the Prime Rate.

To avoid paying interest on purchases, cardmembers should pay their entire balance by the due date each month. However, if interest charges apply, the minimum interest charge will be no less than $0.50.