Microsoft has announced the pricing plans for its next generation Xbox Live subscriptions. The new Gold subscription will be $49.99 here in the US and the Silver subscription will be free for anyone who owns a 360 console. The Premium Gold pack includes a new headset, Xbox live arcade games, Microsoft Points for use in a marketplace, and mail in rebates for up to 20 bucks off any Xbox 360 game. More importantly – you won’t need a credit card to pay for the subscription anymore kiddies!

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