Microsoft has announced the Xbox Mastercard, a new no-annual-fee credit card issued by Barclays exclusively to Xbox testers in the US.
“Xbox Mastercard players can earn card points through everyday purchases that can be redeemed for additional games and content,” said Dave McCarthy, Executive Vice President of Xbox Player Services. The card is currently only available to Xbox testers in the US. “USA” is available and will be available to all US Xbox players in 2024.”
Purchases made with the card earn you points that can be redeemed for Xbox games and additional content. The Xbox MasterCard is not affiliated with Microsoft Rewards, so it is a separate pool of points that can be earned using the card for purchases.
For every dollar you spend, you'll earn 1 Card Point, and every 1,500 Card Points can be redeemed for a $15 gift card that can be redeemed in the Xbox Online Store.
Cardholders earn 5 points per dollar spent on qualifying products in the Xbox Online Store, 3 points per dollar spent on streaming services like Netflix, and 3 points per dollar spent on delivery services like Grubhub and DoorDash. .
Actual annual interest rates for loans range between 20.99% and 31.99%. Card members will receive a bonus 5,000 points ($50 value) on their first purchase using the card, and new Game Pass members will also get three months of Xbox Game Pass Ultimate.
If you're a Game Pass member, you can also gift these three months to a friend or family member. The Xbox MasterCard itself comes in five models, with the option to customize it with your Gamer ID.
Notably, this is the first time Microsoft has offered an Xbox Card in more than a decade. In 2005, the company allowed Xbox Live subscribers to obtain a free Xbox Live Diamond card, which provided discounts at participating retailers.
Sony also offers the PlayStation Credit Card that uses a points-based system that can be redeemed for games, movies, electronics, and more.