Amazon is currently offering the Xbox 360 for $199.00. That has free shipping as well. Once you order, you will get a $50 promotional credit to be used on a future Amazon purchase.
This week Target is offering the same deal if you prefer to drive to the store. They have the Xbox for $199 with a $50 Target gift card back.
This is going to be a very popular offer so be sure you see the gold box in the center of the screen advertising the free $50 gift card before you buy. The $50 should be in your account within 3 days of the game shipping.
There is a limit of 1 per account.
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