Microsoft’s Xbox Mastercard is moving out of beta and launching in the US.Microsoft piloted the credit card with Xbox Insiders in September. It gives members access to cashback in the form of reward points, which can be exchanged for items across Microsoft’s digital marketplaces, including the Xbox. After signing up, members get a bonus of 5,000 card points after their first purchase, a $50 value (100 points equals $1). In addition, the Xbox Mastercard is available in five different designs, which can be further customized with a user’s Xbox Gamertag.
(Credit: Microsoft/Barclays)
Microsoft has teamed up with Barclays US Consumer Bank to offer the credit card. However, it looks like the card is best for gamers who primarily buy from the Microsoft Store, whether online or over a console. Regarding cashback, users can receive points for every $1 they spend with the card. This includes “5X points on eligible products at the Microsoft Store, 3X points on select streaming and dining delivery services, 1X card points for all other everyday purchases,” the companies said. Other perks include Microsoft offering three months of Xbox Game Pass Ultimate for new Game Pass members after their first purchase.Hence, if you buy $100 worth of product on the Microsoft Store, you should receive 500 points, or equal to $5 — essentially a 5% cashback return, although the value can only be redeemed on the Microsoft Store or Xbox.com.
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Users can also receive 5X points when buying custom Xbox controllers from the Xbox Design Lab. On the downside, the 5X reward multiplier doesn’t include the Xbox Gear Shop, where you can buy Xbox-themed merchandise, or the Official Bethesda Gear Store, which Microsoft also owns. Buying Xbox products from third-party retailers or making in-game Xbox purchases with the card are also excluded from the 5X reward bonus. Barclays offers the credit card with no annual fee, using an annual percentage rate or APR from 20.99% to 29.99% based on the user’s credit score. If you miss a payment, you can expect to pay up to $49, according to the terms and conditions.
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