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Introducing the New Xbox Mastercard

jshackles

jshackles

Gentlemen, we can rebuild it. We have the capability to make the world's first enhanced store. Steam will be that store. Better than it was before.
news.xbox.com

Introducing the New Xbox Mastercard – A New Way to Earn More Value for Gaming - Xbox Wire

We’re excited to share that we are introducing the no annual fee Xbox Mastercard in partnership with Barclays US Consumer Bank. Players can earn 5x card points on eligible products at the Microsoft Store.
news.xbox.com news.xbox.com

Xbox-Mastercard-5-Cards-2e57abb9491f4a0cdf8e.jpg
 
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Nankatsu

Nankatsu

Gold Member
Sony, make it happen for Playstation users too, you already have Playstation Stars (which sucks ass though).
 
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DeepEnigma

DeepEnigma

Gold Member
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Unknown?

Unknown?

Member
Sorry, I only use Discover! Credit is so BS anyway. If you know how it works, any loan taken out(credit card, auto, mortgage, etc) has the currency created for that specific loan. It's not in some vault that the banks have set aside for loaning, it's literally created out of thin air and then they have the audacity to charge interest on loaning out something that didn't even exist before it was loaned. Such a scam.

Man 31% is nuts!!
 
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Puscifer

Puscifer

Member
Nankatsu said:
Sony, make it happen for Playstation users too, you already have Playstation Stars (which sucks ass though).
Click to expand...
There's already a PlayStation credit card


General piece of advice to everyone, unless it's an Airline credit card or cashback card that applies to your spending habits 99% of these meme cards shouldn't be on your credit report. There's cash back cards with up to 3% back and this is just a joke.

I pay rent with my united credit card and put bills on another I get thousands of miles a month and cash back on another. This lets me fly to see my family 3 times a year for free because of it, just don't do it. You really want Xbox points instead of free flights or cash back that stacks up?
 
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jshackles

jshackles

Gentlemen, we can rebuild it. We have the capability to make the world's first enhanced store. Steam will be that store. Better than it was before.
Magic Carpet said:
I will use that Mastercard to buy new PC parts.
31.99% APR! Thats the highest I've ever seen.
Good luck everyone. Don't forget to pay that sucker off every month.
Click to expand...
Yes, this wouldn't be a card you'd want to carry a balance on.

It's essentially 1% cash back (since 5000 points = $50 therefore 100 points = $1) - there are better cards out there from a pure rewards standpoint. But, it's also a free game for every $7,000 spent if you can be responsible with it.
 
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MarkMe2525

MarkMe2525

Member
RANT/
20.99, 26.99, or 31.99% depending on credit score is par for course. These institutions are not our friends and want to trap us in a cycle of revolving credit debt so they can fund their yachts and "private island parties".

These can be used strategically (I do), but that's only if you have the capital to ensure the balance is paid in full monthly.

"Fuck the corporate world... biatccchhhhhhh" - Afroman

/rant
 
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RoboFu

RoboFu

One of the green rats
If there isn’t any free points involved or no interest for a year then it’s super trash.
Master card is pretty trash to begin with lol.
 
StreetsofBeige

StreetsofBeige

Gold Member
jshackles said:
Yes, this wouldn't be a card you'd want to carry a balance on.

It's essentially 1% cash back (since 5000 points = $50 therefore 100 points = $1) - there are better cards out there from a pure rewards standpoint. But, it's also a free game for every $700 spent if you can be responsible with it.
Click to expand...
$700 or $7000?

With all these credit cards everywhere, I just go with a no annual fee dividend card thats pays me cash back 1% on everything, 2% on gas, 3% on restaurants.

I use it for all company purchases too from travel to dinners to office supplies. Make good money of it! If I organize a team dinner for $2000, that's $60 back!
 
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jshackles

jshackles

Gentlemen, we can rebuild it. We have the capability to make the world's first enhanced store. Steam will be that store. Better than it was before.
StreetsofBeige said:
$700 or $7000?
Click to expand...
Yep didn't even do my own math. It's $70 free (a free game) for $7,000 in purchases. As I said above, not the best return as some other cards are 1.5-2% or higher.
 
R

RespawnX

Member
Magic Carpet said:
I will use that Mastercard to buy new PC parts.
31.99% APR! Thats the highest I've ever seen.
Good luck everyone. Don't forget to pay that sucker off every month.
Click to expand...

"We want really bad conditions for our customers"
"I said really bad"
"Imagine the worst"
"Nah, even worse please"

Whoever negotiated this really sucks at his job.

I mean, I don't borrow money from this suckers anyway, but this is really wild. Considering the amount of people out there with credit card debt...woah.

Also, 1% cashback is pretty bad. Why would anyone want that?
 
Elysium44

Elysium44

Banned
DeepEnigma said:
Yeah, mine is 19.24%. But, I pay it off every month after use.

Only use it to buy PlayStation games or hardware. The points do add up fast with 5X. Movie ticket redemtion is nice as well.
Click to expand...

I have a cashback card as well (different one) with a very poor rate but I also always pay it off in full so it doesn't matter. I haven't always been this sensible though and I feel bad for people who will use a ~30% credit card and pay interest on it :messenger_hushed:
 
StreetsofBeige

StreetsofBeige

Gold Member
Interest rates are a zero issue if you pay it off. Mine could be 99%, who cares. It's on automatic PAP every month.

For anyone on a borrowing crunch always in the hole, do a line of credit or a basic no annual fee CC that is 15% or less. I dont know if any go down to 10%, but I know for sure there have been basic ones for 15-ish%. Forget about the rinky dinky 1-2% rewards you get. It wont come close to the 20%+ interest paid.
 
EviLore

EviLore

Expansive Ellipses
Staff Member
The best credit cards give you flexible travel redemptions. Amex Gold, Chase Sapphire Preferred, etc. 1-4 points per dollar spent, and can be redeemed at significantly better than $0.01 per point in value for flights.

Going to Europe whenever you want > a free xbox game
 
StreetsofBeige

StreetsofBeige

Gold Member
Elysium44 said:
I have a cashback card as well (different one) with a very poor rate but I also always pay it off in full so it doesn't matter. I haven't always been this sensible though and I feel bad for people who will use a ~30% credit card and pay interest on it :messenger_hushed:
Click to expand...
People are lazy.

Even when I was in my 20s, I applied for lines of credit as every bank will sign you up. I never bothered using it, but got a few just in case I needed it. I still have them now as accounts in my online bank. Just dormant. They surely send everyone mailers too. LOC rates are much better than CC. The only caveat is that you usually got to pay back more per month (like 3% of a balance) while a CC lets you slide with maybe just paying the minimum 1% of the balance. Doesn't sound like a big gap to me.

Interest rates have shot up like crazy lately so who knows what a LOC is now, but most people is probably like prime +3%. So maybe you pay 10% tops. If this was years back, a LOC would be probably like 5%. Anyone with good standing and assets can get away with prime only which at the time was probably 3%. Why pay 20%? If someone is that desperate, skip the CC and do LOC. It just takes more handling as you get cash and need to dole it out when you buy stuff as opposed to pulling out a card and buying anything on a whim. And if you have LOC accounts, you got to reactivate them periodically to use it as they will go dormant status if you never touch them for like 6 months.
 
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Elysium44

Elysium44

Banned
StreetsofBeige said:
People are lazy.

Even when I was in my 20s, I applied for lines of credit as every bank will sign you up. I never bothered using it, but got a few just in case I needed it. I still have them now as accounts in my online bank. Just dormant. They surely send everyone mailers too. LOC rates are much better than CC. The only caveat is that you usually got to pay back more per month (like 3% of a balance) while a CC lets you slide with maybe just paying the minimum 1% of the balance. Doesn't sound like a big gap to me.

Interest rates have shot up like crazy lately so who knows what a LOC is now, but most people is probably like prime +3%. So maybe you pay 10% tops. If this was years back, a LOC would be probably like 5%. Anyone with good standing and assets can get away with prime only which at the time was probably 3%. Why pay 20%? If someone is that desperate, skip the CC and do LOC. It just takes more handling as you get cash and need to dole it out when you buy stuff as opposed to pulling out a card and buying anything on a whim. And if you have LOC accounts, you got to reactivate them periodically to use it as they will go dormant status if you never touch them for like 6 months.
Click to expand...

I have several credit cards and I use all of them occasionally for that reason, so I don't lose them. I don't even need credit, but who knows if that will change one day. The time to get the really favourable low rate credit cards is when you don't need them, because once you do they won't give them to you 😂 Understandably.
 
MarkMe2525

MarkMe2525

Member
RespawnX said:
"We want really bad conditions for our customers"
"I said really bad"
"Imagine the worst"
"Nah, even worse please"

Whoever negotiated this really sucks at his job.
Click to expand...
Look at source material. That isn't the only interest rate. They are as follows 20.99, 26.99, and 31.99% which is unfortunately really common and in line with most trash credit cards.
 
StreetsofBeige

StreetsofBeige

Gold Member
Elysium44 said:
I have several credit cards and I use all of them occasionally for that reason, so I don't lose them. I don't even need credit, but who knows if that will change one day. The time to get the really favourable low rate credit cards is when you don't need them, because once you do they won't give them to you 😂 Understandably.
Click to expand...
Yup. Using two cards responsibly is a good advice for anyone too. A VISA and a MC. The two most popular cards. In a bind, you use one and dont have to worry if a business only accepts one brand. Every CC store will accept at least one of these brands. Most both. But you run into some that only take one of them. Or if some reason one the cards fails (I've had that few times where you fuck up the key press ad get locked out), then you pull out the other card and pay. Then resolve the locked out card when you get home with CSR.

Building a credit score is important too. Someone can go the 100% cash route for sake of budgeting. And thats fine and all, but to build up credit scores to get approved for low rate loans you need to build up a score using CCs at some point so you can at least be on record being a good reliable customer. Even just a $1000 limit card meant for students is good enough. Just milk that card for a few years to build up a score. You dont even have to max it out. Just put on a reoccuring $100 utility bill on with auto-payment and never think of it.
 
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