Welcome to the next iteration of what Microsoft calls its Xbox Live Rewards system - ready for action just in time (or a few months early) for the next-generation console. Making certain it's ready to roll by the time the Xbox One appears in stores, this Xbox Live Rewards system reboot includes a collection of ways you can access credits, cash out, and shuffle them all around.
As you rack up Rewards Credits, they turn to real cash. With this system in place, every time you collect at least 5,000 Rewards Credits, you'll find that they'll be converted directly into your Microsoft account in your country's local currency. From there, this cash (no longer points) can be used to buy essentially anything in the Xbox Stores online. Earning credits can be done with a wide variety of activities: everything from making your first Xbox Store purchase (1,250 credits) to taking a monthly survey (250 credits).
This system also rewards you for playing a new game that you've purchased direct through Microsoft, unlocking "MyAchievements", and purchasing map packs. Referring friends to Xbox Live Rewards results in 1,000 credits, while renewing your Gold Membership will rack up a cool 3,000 credits. The current conversion rate in USD is $1 for every 1,000 credits - so keep that cash up.
It should be noted that this system is not limited to the Xbox One - it'll work on any Xbox that's previously had access to Xbox Live Rewards as well. Currency deposits are being made by Microsoft on the 15th and 30th of each month (or right around there) and users wishing to grab an early payout can make a request of Microsoft to do so - just as long as they've got 1,000 points in storage.
Stay tuned as we continue to have a deep-dive into the rules and regulations in this system to see if anything odd or of special note decides to pop up.
SOURCE: Xbox Rewards