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If you've ever worried that your credit card doesn't immediately identify you as a gamer, we have some good news for you. As of September 21, 2023, Microsoft has launched its new Xbox Mastercard, which claims to allow cardholders to "earn more value for gaming."
Members of the Xbox Insider Program who live in the continental US, Alaska, and Hawaii can apply for the new Xbox Mastercard. The card, issued by Barclays, has no annual fee, and allows cardholders to earn points on purchases that can be redeemed on games and extras at xbox.com.
New cardholders are able to choose between one of five epic card designs, including the option to personalize the Xbox Mastercard with your gamertag. At long last, you’ll be able to impress your nieces, nephews and random store clerks with proof that you are “xXDemonBlaster1983.”
While the card is currently only available for Xbox Insiders, Microsoft has announced that it plans to extend the offering to all Xbox players sometime in 2024.
Xbox Mastercard Benefits
Although it's ostensibly a store credit card, the Xbox Mastercard actually includes some rewards categories that go beyond Microsoft purchases to include everyday spending.
Cardholders will be able to earn 5x points for every dollar spent on eligible products at the Microsoft store, 3x points on select streaming services like Netflix and Disney+, 3x points on eligible delivery services such as Doordash and Grubhub, and 1x points on all other everyday purchases. Barclays values these points at one cent each, so a new $60 video game would be worth 6,000 points.
New cardholders also receive a bonus of 5,000 points (a $50 value) after they make their first purchase. The other major sign-up benefit is three months of Xbox Game Pass Ultimate for new members, around a $51 value. Existing Game Pass members can also gift the three free months to a new user.
Unfortunately, this card suffers from a lack of redemption options. Points can only be redeemed for games and add-ons on Xbox's website, meaning you won't be able to redeem them for cash. On top of that, even though Microsoft already offers a rewards program that allows users to rack up and redeem points for games, the Xbox Mastercard system functions separately from Microsoft Rewards; anyone who wants to pool points is out of luck.
Is the Xbox Mastercard Worth It?
While the allure of having an Xbox-branded credit card is undoubtedly exciting for some core gamers, the Xbox Mastercard is hard to recommend for most people. Outside of the 5x card points on eligible Microsoft store purchases, all of this card's rewards categories are similar to what you'd find in many of the best no annual fee cards, only most of those offer considerably more rewards redemption options.
If you frequently spend a lot of money on Xbox.com – and imagine yourself continuing to do so well into the future – you could find some value in this card. For everyone else, you're likely better off using a different rewards credit card. You'll likely earn more rewards overall, which you can choose to redeem for Xbox games (or anything else you want).
If you're unsure about which credit cards to consider, here are a few of our favorites:
Recommended Credit Cards
| Credit Card | Rewards Rate | Annual Fee | Bonus Offer | Learn More |
|---|---|---|---|---|
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1x- 5xPoints
The card offers 5x points per dollar on Chase Travel℠, 3x points on dining (including eligible takeout and delivery services), as well as 3x points on select streaming services and online grocery purchases (excluding Target, Walmart and wholesale clubs). This card earns 2x points on all other travel spending and 1x point per dollar everywhere else. Chase broadly defines travel to include not just airfare, hotels and rental cars, but expenses like parking, tolls and public transit too. |
$95 |
60,000Chase Ultimate Rewards Points
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Dollar Equivalent: $1,380 (60,000 Chase Ultimate Rewards Points * 0.023 base) |
Apply Now |
Southwest Rapid Rewards® Premier Credit Card |
1x - 3xPoints
Earn 3 points for every $1 on Southwest Airlines® purchases, 2 points for every $1 on Rapid Rewards hotel and car rental partners, 2 points per $1 on local transit and commuting (including rideshare), 2 points per $1 on internet, cable, and phone services; select streaming, and 1 point for every $1 on all other purchases. |
$99 |
50,000Southwest Rapid Rewards Points
Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening. Dollar Equivalent: $700 (50,000 Southwest Rapid Rewards Points * 0.014 base) |
This product is currently not available via Slickdeals. All information about this product was collected by Slickdeals and has not been reviewed by the issuer. |
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2%Cashback
Earn unlimited 2% cash rewards on purchases. |
$0 |
$200Cash Bonus
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. |
Apply Now Rates & Fees |
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1% - 5%Cashback
Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025. |
$0 |
$200Cash Bonus
Earn $200 in cash back after you spend $1500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® points, which can be redeemed for $200 cash back. |
Apply Now Rates & Fees |
Slickdeals Money Staff
The Slickdeals Money editorial team is dedicated to helping readers navigate the personal finance space. We’re passionate about educating our readers on the very best financial tools & products on the market today.
