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Xbox users can earn cash value with Xbox Live Rewards program

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Xbox users will be able to earn Rewards Credits in exchange for completing various tasks and purchases, such as renewing their Xbox Live Gold membership to using Xbox apps, according the official Xbox Live Rewards program site.

For instance, renewing an Xbox Live Gold membership earns 3,000 credits, while making a first Xbox Store purchase awards 1,250. According to the site, new reward goals will be introduced over time. Other rewards currently touted are: "Complete My Apps Punchcard" for 1,000 credits; "Complete My Map Pack Punchcard" for 5,000; "Complete My Movies and TV Punchcard" for 3,000; take a monthly survey for 250; and, play a new game and refer a friend for 1,000 credits each. Players can also earn a three percent Xbox Store Rebate for building up their gamer score.

When users rack up at least 5,000 Rewards Credits (equal to $5), those credits will be converted into the user's local currency. The converted currency will be transferred into the user's Microsoft account, which can be used towards Xbox Store purchases. Rewards Credits don't expire, but cash values deposited into Microsoft accounts expires by June 2015.

Interested parties are invited to register for Xbox Live Rewards via the program's official site. According to the site, it takes Microsoft roughly 36 hours to set up a Rewards account once a user signs up.