Most of you are aware that Microsoft Points are coming to an end after many years. Regardless of your take on them, they've been along for some sales, DLC, and that sweet dashboard theme you admire each day. Unfortunately, MSP didn't spend at your local bar and were equally scoffed by escort services. Certainly, neither of these factors went into the decision to make a change. Still, the switch to actual currency was only one domino in front of the Xbox Live Rewards program.
You will still be able to earn Microsoft Points as you normally would through July 31st. On August 7th, all of your pending Microsoft Points will be added to your Xbox Live account. The normal minimum of 100 MSP will be waived so that every single point will deposit on the same day.
As for the month of August, you will only be able to earn rewards for Xbox Live Gold membership renewals or first-time transactions. MyAchievements and Refer-a-Friend will take the month off before returning in September. On September 1st, Microsoft will reveal the new Xbox Live Rewards
Many are probably wondering when the Microsoft Points will actually change. Once we get the next Xbox 360 system update (new dashboard), your points will become currency the moment you redeem a MSP card or make a marketplace purchase. Microsoft stated that existing MSP will be replaced with currency that is equal to or greater than its marketplace value. All of your stored MSP that becomes currency will expire on June 15th, 2015. New currency that you add from that point forward will never expire.
The plastic cards you purchase at retailers has been mentioned more than a few times. Those that were worried about their disappearance can relax. Later this year, the new Xbox Gift Cards will be released for retail and online purchase. Until then, you will still be able to redeem MSP cards which will convert into actual currency when you redeem them.
Without going into all of the details
, it's worth mentioning a couple things. Windows Phone users will now be able to use the currency stored on their profile for WP marketplace purchases. Later this year or early next year (depending on region), you'll be able to use the new currency for Xbox Music purchases on Windows 8 and Xbox One. Lastly, Microsoft says we still won't be able to use the currency for Xbox Live Gold memberships "at this time".
Hopefully, most of your questions and concerns have been addressed. For the rest of the information, we're left waiting until the announcement on September 1st, 2013. Check back with us for the details on that.