£5 Xbox Gift Cards for 5,500 Microsoft Rewards points (usually 5,850 MS points).
For people who have previously saved up their Microsoft Rewards points and then spent them on Xbox Gift Cards when they were on offer: -microsoft.com/en-…eem
"Microsoft Rewards will no longer discount any Xbox Gift Cards with ‘Hot Deals’."
It doesn't say if Microsoft Reward Store 'Hot Deals' are no more so we don't know if Microsoft Gift Cards (or anything else for that matter) will ever be on offer again.
From the "Frequently Asked Questions" section: -
How do I know I’m getting a good deal with Auto Redeem?
By setting up Auto Redeem, you will receive the best price available for £5 Xbox Gift Cards. Microsoft Rewards will no longer discount any Xbox Gift Cards with ‘Hot Deals’.
Sign up for Auto Redeem
Open the Rewards app on your Xbox One, choose your Auto Redeem reward, and sign up.
Get your discounted reward automatically
Every month, your points will be deducted and you’ll receive your reward automatically.
Read the "Frequently Asked Questions" for more details.