The offer is only available in stores, so you'll have to pack up your old console and head to Best Buy.

Looking to upgrade your last-gen gaming console to an Xbox One? You might want to head over to Best Buy.

The big box retailer is running a new promotion offering credit towards an Xbox One when you trade in any working Xbox 360 or PlayStation 3. The offer is only available in stores, so you'll have to pack up your old console and head over to your local Best Buy to get the discount.

Here's how it works: Trade in any working Xbox 360 or PS3 and Best Buy will give you a $75 coupon towards an Xbox One. If you hand over a 250GB Xbox 360 or PS3 Slim, you'll get even more—a "minimum" $100 gift card.

To get the discount, your console needs to be in pretty good shape. Best Buy will only accept consoles that can actually power on, are not broken, and have a fully intact warranty seal. You also need to hand over the AC adapter/power cord.

The deal isn't available in all locations and some stores may have additional limitations, Best Buy said. It's also not compatible with any other Best Buy trade-in offers, and there's a limit of one trade per person. Head over to Best Buy's website to find a participating store.

Meanwhile, when the Xbox One launched, one major point of contention for gamers was the lack of backwards compatability with Xbox 360 games. That's all about to change, though, as Microsoft this week at E3 announced that Xbox 360 games will soon work on Xbox One .

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Source: www.pcmag.com