One of the casualties of Microsoft's recent retiring of Microsoft Points was the Xbox Live Rewards loyalty scheme. In case you weren't familiar, this allowed gamers to earn free Microsoft Points just by taking part in regular actions that they would normally do while using Xbox Live.
The new version of the scheme has been launched today, a day earlier than previously expected and its main feature sees Microsoft Points replaced with Reward Credits. Just like before, you can earn these by undertaking such activities such as renewing your Gold subscription or taking part in a survey, netting you 3000 (for a 12 month renewal) and 250 Reward Credits respectively.
There's also some new activities to earn yourself some Credits, such as playing any new Xbox 360 game for at least ten hours within thirty days of its release nets you 1000 points, and a new tier on the Achievement based rewards system known as "Master" netting you 300 Credits for every £6.70 you spend providing you have a Gamerscore of over 75K.
Once you've racked up at least 5000 of these Reward Credits, they'll be converted into your local currency - which is £3.35 here in the UK according to the FAQ. That value will be deposited into your account by the 15th or the 30th of the month, unless you request an earlier deposit once you reach 1000 credits or more. The credit can then be spent in the Xbox Stores - it appears Microsoft have also retired the Marketplace moniker for their online shop - on whatever you want.
You can sign up and find full details on the Xbox Live Rewards website but in the meantime, what's your take on the new reward scheme? Prefer it to the old one, or are you missing MS Points already? Sound off below.