The best replacement for microsoft points is xbox gift card.

The best alternatives to microsoft points are rated as following:
★★★★★  xbox gift card
★  xbox live points
★  zune pass

Your alternative for microsoft points is not listed? Suggest!
Speaking about microsoft points, one probably shouldn't forget about xbox live.

Other search terms related to microsoft points and their ratings are:
★★★★★ xbox live
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microsoft points
xbox gift card
xbox live points