Microsoft just revealed that they are releasing a brand new Xbox Mastercard credit card that will allow players to enjoy some gaming perks when making purchases.

This new Xbox Mastercard will allow players to earn points with their everyday purchases that they can use to redeem various games and add-ons on the official Xbox website. It may sound like a great way to amplify your gaming life, but there are some things you need to take note of first.

Here, we will walk you through how to get the Microsoft Xbox Mastercard, how to see if you qualify, and if this new credit card is worth adding to your financial situation.

How to Get Microsoft’s Xbox Mastercard

To get the Xbox Mastercard, you’ll need to be an Xbox Insider and apply for it when the application opens up on September 21, 2023. Microsoft plans to accept applications in waves when it releases the credit card.

Please note that the Xbox Mastercard is only available to US residents.

We will update this article with a link to the applications as soon as they go live on September 21.

Microsoft has not specified how often these waves will happen, nor how many applicants each wave will accept.

The points you receive from the Xbox Mastercard are different than the ones that you obtain as part of the Microsoft Rewards program.

How to Join Xbox Insider

You can join the Xbox Insider Program on either an Xbox Console or a Windows Device by doing the following:

  • How to Join on Xbox Console
    • Head to the Store.
    • Use the Search function and type in Insider.
    • Select the Xbox Insider Bundle.
    • Choose Get/Install.
    • Head into the Xbox Insider Hub and accept the terms and conditions.
    • This will officially sign you up for the Xbox Insider Program.
  • How to Join on Windows Device
    • From your Windows Device, head into the Microsoft Store.
    • Type in “Xbox insider” in the search bar.
    • Choose the Xbox Insider Hub.
    • Select Get/Install.
    • Open the application and agree to the terms and conditions.
    • This will officially sign you up for the Xbox Insider Program.
Xbox Insider Hub

As part of the Xbox Insider Program, you will get early access to new Xbox features in order to test them out and complete surveys about your usage. This will also allow you to get notified to apply for the Xbox Mastercard when it releases on September 21, 2023.

How to Get & Use Points Using Xbox Mastercard

Players that are approved for the Xbox Mastercard will obtain points for every $1 spent on purchases including:

  • Xbox & Microsoft – You will earn 5x points when you purchase eligible products from the Microsoft/Xbox Store.
  • Streaming Services – You will earn 3x points when you use your card to subscribe to streaming services like Netflix and Disney+.
  • Dining Delivery Services – You will earn 3x points when you use your card to order food delivery from services like DoorDash and GrubHub.
  • Everyday purchases – You will earn 1x points from all other purchases that you make with your Xbox Mastercard.

You will also receive a bonus 5,000 Card Points ($50 Value) after your first purchase with the Xbox Mastercard.

Card owners can then use these points in the following ways:

  • You can use your points toward an eligible purchase at the Microsoft Store. Each 1,000 Points is equal to $10.
  • There are various products that you can use your points for, including an Xbox Mastercard Gift Card valued at $15 for a total of 1,500 Points.

If you are constantly purchasing games, or using the services listed then this a great way to gather points in order to gain rewards while you shop.

Xbox Mastercard Credit Card Requirements – How to Qualify

To qualify for the Xbox Mastercard Credit Card, you’ll want to have good credit history with no deragotry marks on your credit report. We recommend having at least a 630 credit score to get approved.

If you Credit Score is below 600 than there is still a chance of approval due to having no negative marks, but you’re credit limit will be significantly lower.

If you are not approved for an Xbox Mastercard, then we recommend waiting until you raise your credit score before you try applying again.

Some factors that could factor into a lower credit score include:

  • High utilization of available credit.
  • Missed payments.
  • Items in collections.
Xbox Mastercard Microsoft Credit Card

Is The Xbox Mastercard a Credit Card?

Yes, the Xbox Mastercard is a Credit Card from Microsoft that is distributed and handled by the Barclays US Consumer Bank. Anyone interested in using this credit card will first need to apply and qualify for it.

Players that obtain the Xbox Mastercard can choose one of five iconic designs for their card with the option to add their gamertag to their card.

There is no annual fee, but it does have a higher interest rates than other well regarded credit cards. Depending on your approval, you could have an APR of 20.99%, 26.99% or 31.99%.

This could essentially lead to owing more than you bargained for if you do not pay off your credit card diligently.