Microsoft Paying Xbox 360 Owners to Buy an Xbox One

July 9, 2014 7:29 AM EDT

How much would it take to get you off your duff and over to your local game depot to pluck an Xbox One off the shelf? $5? $25? $50?

How about $75? That’s how much NeoGAF poster BeforeU discovered Microsoft was offering to incentivize Xbox 360 owners to pick up an Xbox One, effectively reducing the regularly $400 system’s price tag — assuming you plan to buy games or peripherals immediately — to $325.

The message, says BeforeU, appeared after powering up an Xbox 360, and reads:

Thanks for being an Xbox fan. Hi [blanked out]. As our way of saying thanks we’re giving YOU, one of our very best customers, an exclusive $75 Xbox promotional code with the purchase of any Xbox One or Xbox One Bundle from Microsoft Store or your local retailer. Your code can be used for games, add-ons, movies, and more!

The ad then redirects viewers to http://www.xbox.com/xboxoneconsole to “learn more.”

Users must purchase and activate a new Xbox One console (with or without Kinect) from July 7 at 12:00am PT through July 31 at 11:59pm PT. Microsoft says the $75 promotional credit will be sent to the Xbox One console’s message center direct by August 15, and then you have until October 15, 2014 to redeem it and October 14, 2015 to spend it.

User BeforeU is in Canada and already has an Xbox One, but the promotional fine print indicates the deal is valid in “the 50 U.S. & D.C.” TIME reached out to Microsoft for clarification, and the company confirmed the promotion is in fact valid and not a hoax. Per a Microsoft spokesperson:

This short-term promotion is offered to select Xbox fans in the U.S., Canada and the U.K. We are always looking for opportunities to bring promotions like this to our customers, but we have nothing further to share at this time.

Microsoft Is Paying Xbox 360 Owners to Buy an Xbox One

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