My Personal Take As An Xbox Fanboy
Ive owned every Xbox since 2003. I even purchased the Xbox 360 and Xbox One on launch day. So youd think that once pre-orders opened up for the Xbox Series X Id jump right on the bandwagon.
Nah, Im good. Id much rather invest and multiply that money.
Instead, heres how I play the latest games in true 4K for less than a third of the cost of Xbox All Access.
Xbox All Access Financing And Citizens One Line Of Credit Questions
Well I was fully planning on staying in the Garden Club for a year, but Microsoft just announced details on the Xbox Series X and some improvements to Game Pass…both are included for a nice subscription price of $35 per month, for 24 months. This is done on the backend through a 0% LOC by Citizens One. The terms are here .
Does anyone know if it possible to have this account persist beyond the Xbox financing term? Are there any ill effects I’m missing beyond the obvious inquiry and new account ding? To me, it looks like if you were planning on buying the console and also subscribing to Game Pass, it is a win win.
The price breakdown I’m seeing is:
– Xbox Series X $499
– Game Pass Ultimate $14.99 * 24 = $359.76
-Xbox All Access Financing $839.76
Not sure on how taxes are factored in for the Xbox itself under the financing plan, but saves $20 and spreads it over two years at 0% which I’m always on board with.
as of 11/29/21
Otherwise How To Get Xbox Series X
Of course, much of this analysis avoids one important issue: Right now, its nearly impossible to get an Xbox Series X without Xbox All Access, and its relatively easy to get an Xbox Series X with it. But remember, once you get your Xbox, you cant simply pay for everything up front and youre done. Citizens Bank will put you in trouble for the next couple of years, and a lot can happen in that time.
Personally, I would feel more comfortable buying a console outright, even if it meant I had to wait a few more months to get one. Furthermore, Xbox Game Pass Ultimate goes on sale relatively often Youll almost certainly get the equivalent of two years for less than $360.
However, if you get Xbox All Access, just remember to pay on time, and in full, every month. As long as you do that, Citizens Bank should be happy with you, and you should be happy with your Xbox.
Todays Best Xbox Game Pass Deals
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Check Your Credit Before Applying
Just about any type of financing you might pursue to help you purchase your next-gen console will require a credit check, and if your credit score isn’t in good shape, you may have a hard time getting approved.
So, before you apply for financing or a credit card, check your to see where you stand. If it needs some work, check the risk factors that accompany your credit score to get an idea of the areas you can make improvements, then take steps to build a positive credit history. This process can take time, but there are some ways to improve your credit score fast.
Once you secure financing, be sure to make all payments on time and keep your low to make sure you don’t do any harm to your credit. Credit cards and other financing options can be a great way to pay off a console over time, but be sure you’re only exploring these options if you’re confident you can pay off the purchase in full.
You Havent Experienced The Xbox One X
Maybe youve been team Playstation this generation . Or maybe youre totally new to console gaming. You might even be looking at your dusty Xbox One, thinking about an upgrade.
In all three cases, you might consider purchasing an Xbox One X instead of the Series X. As Microsofts most powerful console current-gen console, the Xbox One X makes a compelling case for itself in a few ways:
- The Xbox One X already plays many of the best Xbox games in native 4K and/or 60 frames per second.
- Thanks to Microsofts cross-gen support itll play many next-gen titles also, namely Halo: Infinite.
- You can buy an Xbox One X new for $399, or ~$300 in the pre-owned market .
I got my Xbox One X at a pawn shop in mint condition for $285, and frankly, it provides plenty of power and visual splendor to make use of my 65 4K TV.
But more on my personal feelings later.
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What Exactly Is A Credit Score
Simply put, a credit score is a number in between 300 850 that illustrates a customers creditworthiness. The higher the score, the much better the individual looking to obtain cash or open a charge card seeks to the prospective lending institution. A credit score is based on credit rating, which includes:
- Number of open accounts
- Age of credit history
- Any derogatory marks
Lenders utilize credit rating to examine the likelihood that an person will pay back loans on time and completely . Its worth keeping in mind that its not constantly a clever idea to close a charge account that is not being utilized because doing so can decrease your credit score by impacting your credit rating age & amount of open credit offered to you.
The credit score model was produced by the Fair Isaac Corporation , and it is utilized by banks like banks. While other credit-scoring systems exist, the FICO score is without a doubt the most frequently utilized.
Having issues with your credit? There are a number of ways to improve your score, consisting of paying back loans on time, settling credit cards monthly, and keeping financial obligation low. We will enter raising your credit score further in the post.
How Else To Get An Xbox Series X
Of course, a lot of this analysis sidesteps one important issue: right now, its nearly impossible to get an Xbox Series X without Xbox All Access, and relatively easy to get an Xbox Series X with it. But remember, once you get your Xbox in hand, you cant simply pay for the whole thing up front and be done with it. Citizens Bank will have you on the hook for the next two years, and a lot can happen in that time.
Personally, I would feel more comfortable buying a console outright, even if it meant I had to wait a few more months to get my hands on one. Furthermore, Xbox Game Pass Ultimate goes on sale relatively often you could almost certainly get two years worth for less than $360.
Still, if you do get Xbox All Access, just remember to pay on time, and in full, every month. As long as you do that, Citizens Bank should be happy with you, and you should be happy with your Xbox.
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You Want It All For Less
If youve been playing your Xbox One for years and youre just ready for next-gen and everything it has to offer, Xbox All Access makes sense for you.
Xbox All Access provides a new console plus 24 months of games and multiplayer for a simple monthly price. Thats everything plus the kitchen sink for $20-$60 less than youd pay piecemeal, and the low monthly payments may help you balance your budget better than a massive upfront expenditure.
Xbox All Access Is It Worth It
Lets crunch some numbers. Is Xbox All Access really as good of a deal as it sounds? Whats the catch?
Ill start with the Xbox Series S. Heres what youd pay for everything in cash versus financing for 24 months. Im including 8% sales tax, but the tax will differ depending on where you live.
- Xbox One S console .
- 24 months of Xbox Game Pass Ultimate .
- Total: $658.76 + 8% tax = $711.46.
So if you enroll in Xbox All Access, youll actually end up saving around $63 versus purchasing the console and Xbox Game Pass Ultimate separately. From that perspective, Xbox All Access is a good deal.
Lets now take a look at the Series X.
- Xbox One X console 24 months of Xbox Game Pass Ultimate .
- Total: $858.76 + 8% tax = $927.46.
Once again, financing your next-gen Xbox will actually save you money versus paying cash, albeit less this time . Thats honestly pretty amazing, considering financing virtually every other asset on the market will cost you money in interest.
Citizens One has to make money somewhere, so Im guessing that in lieu of interest theyre getting a nice kickback from Microsoft, who in turn is subsidizing the cost of Game Pass Ultimate.
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What Is Xbox All Access
Xbox All Access is Microsofts financing program for the new Xbox Series X or Series S consoles. Enroll in Xbox All Access and youll receive a console on launch day November 10th plus 24 months of Xbox Game Pass Ultimate.
With approved credit, youll pay $0 down, 0% APR, and a low monthly fee ranging from $25 to $35 per month for the Series S and Series X, respectively.
Youre Not 100% Committed To Next
Enrolling in Xbox All Access is a commitment to pay $906.94 total over two years. According to Microsoft, you can return your Xbox All Access subscription to the retail store where you purchased it for a full refund of the payments youve made, but only within the retail stores return window .
If you keep your Xbox All Access past 30 days, youre basically stuck with $34.99 monthly payments for two years. Even if you sell your hardware, youll have to keep paying $35 each month for a console and gaming subscription you no longer have.
So Xbox All Access is not a good option if you just want to try next-gen gaming, since its a near-$1,000 financial commitment.
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Xbox All Access Credit Score Requirements Instant Credit Boost
Im sure youve heard the term before. Its that 3 digit number that follows you & your financial life every where you go. You require it to get approved for loans, credit cards, homes, mortgages & more! And since you never ever really see it, its typically out of sight, out of mind but this number is something that requires to be taken serious.
None of us like it, the reality that a credit score is so crucial to nearly everything we do financially is exactly why we said it has to be taken serious. It can take years to develop a good score and just a day or more to bring the entire thing crashing down.
Fortunately, theres things you can do to protect and educate yourself on the topic. From techniques to give you a near-instant boost to your score to understanding what a credit score even is from a basic level, were going to walk you through this step by step. Prepare yourself to take control of your financial freedom once and for all!
How Much Does It Cost
Xbox All Access costs $22.99, $24.99, and $34.99 per month for an Xbox One S, Series S, and Series X respectively.
Heres a quick recap of the difference between consoles.
- The Xbox One S is a faster version of the Xbox One released in 2013, able to run exclusively last-gen Xbox One games at 1440p .
- The Xbox Series S is an all-digital version of the Series X with no disc drive and less power. The Series S is impressively petite and affordable, but unable to play games at native 4K resolution.
- The Xbox Series X is the true next-gen experience youre looking for, able to play current and next-gen games at native 4K in disc or digital format.
Struggling to choose between Series S and X? The S makes sense if you have no interest in buying, selling, or trading physical copies of games, and you either lack the interest or dont have a TV capable of playing games in true 4K.
But for my money, Im going for the Series X Ill make back the $10 per month or $200 cash eventually, and in the meantime, Ill get to enjoy Cyberpunk and Halo in true 4K.
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Isn’t This Service Already Available
Currently, Xbox All Access provides customers with an Xbox One S console along with Xbox Game Pass Ultimate.
When Microsoft’s line of next-generation consoles was released on November 10, 2020, All Access created two new plans: one for the high-end Xbox Series X, and another for the smaller, digital-only Xbox Series S.
Why A Credit Card Might Be A Better Option For Your Next Gaming Console
While there will be options available to finance your next-gen console purchase through a retailer or a third-party lender, using a credit card may be a solid alternative.
Many credit cards offer introductory 0% APR promotions that allow you to make a purchase and pay it off over time. You may also get a welcome offer , which could save you money on the cost of the new console. Consider the following cards:
Chase Freedom Unlimited®: This card offers an intro bonus and an intro $0% APR promotion. You’ll earn a 200 bonus after you spend $500 in the first 3 months and 5% back on your first $12,000 spent at grocery stores during the first 12 months . You’ll also get an intro 0% APR on purchases for 15 months, as well as rewards on your ongoing purchases. Once the promotional 0% interest period is over, your ongoing rate climbs to a variable 14.99% to 24.74% APR.
With a new Chase Freedom Unlimited®, if you spend $500 on the Xbox Series X , your net cost will come down to about $300 thanks to the card’s $200 welcome offer, and that’s not including the card’s base cash back rewards rate of 1.5%.
To contrast, let’s take a look at what you’d pay if you used one of your current credit cards to make the $500 purchase. With a 16% APR and a 15-month repayment period, you’d have a $37 monthly payment, and pay $54 in interest. Factoring in taxes and other costs, your payment would be even higher.
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Includes 24 Months Of Xbox Game Pass Ultimate
- Enjoy an instant library of over 100 high-quality games, plus join friends with online multiplayer.
- Includes EA Play, which gives you instant access to a collection of EA’s best-loved series and top titles on console and PC, exclusive in-game challenges and rewards, special member-only content, and early trials of select new games
- Experience new Xbox Game Studios titles like Halo Infinite the day they release
- Play Xbox games on your Android mobile phone or tablet from the cloud via the Xbox Game Pass app
Re: Xbox All Access Financing And Citizens One Line Of Credit Questions
To kinda give another option, apparently the Live to Ultimate conversion for $1 thing is still going on, so I could get Xbox Live Ultimate for 24 months for $95.99 by buying the two year sub at Costco for $94.99 and then converting for $1 through Microsoft.
So $500 + 96 is even cheaper and probably what I’d do.
Now just to see what Sony does for their pricing!
as of 11/29/21
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What Does Xbox All Access Include
Xbox All Access includes 24 months of Xbox Game Pass Ultimate which itself is receiving an impressive next-gen upgrade.
For the uninitiated, Xbox Game Pass is like Microsofts Netflix for games. The current library features hundreds of Xbox, Xbox 360, and Xbox One games that you can download and play at your leisure as long as youre subscribed. Titles range from AAA heavy hitters like Halo, Gears of War, and The Witcher 3 to indie darlings like Hollow Knight and Untitled Goose Game . Best of all, Microsoft is constantly adding titles to Game Pass, even first-party titles like Halo: Infinite in 2021, so theres always something new to play.
If that werent enough, Microsoft has announced that EA Play would join the catalog on November 10th. This means that some of the best games from EAs history, including Titanfall, Mass Effect, Battlefield, and Fifa would join Game Pass as well as future titles.
Game Pass Ultimate also includes 100+ titles for PC as well as Xbox Live Gold, so you can play online with your friends for 24 months as well. Considering Xbox Game Pass Ultimate typically costs $14.99 per month, the deal offered by Xbox All Access just became a little sweeter.
How Do You Cancel An Xbox All Access Contract
Because it’s a binding contract rather than a subscription, there is no way to cancel an all access contract beyond the first 30 days, or get a replacement console outside of a limited warranty coverage period.
It’s also impossible to shed the Xbox Game Pass Ultimate part of the bundle to shed costs during the contract.
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How Does It Work
Xbox All Access operates like your monthly phone plan. Microsoft is basically bundling together your hardware and your software into one monthly fee to make next-gen gaming a bit friendlier to the average budget than asking $500 for a console plus $60-$70 per game.
Theyve also made enrolling in Xbox All Access extremely easy its basically the same as purchasing a console with cash, the only difference being how much money youre charged and when. To illustrate, on BestBuy.com theres a listing for the $500 console and a listing for Xbox All Access. To enroll in the latter, you simply add it to your cart and buy it.
When you enroll in Xbox All Access, Microsoft opens a line of credit for you from Citizens One bank. The bank pays Best Buy and you pay the bank. Yep, youre basically mortgaging your Xbox.
Its worth noting too that Xbox All Access, like other financing opportunities, is subject to a credit approval of 630 and above. If youre struggling in that department, make sure you take steps to improve your credit.