Microsoft recently announced Xbox Game Pass Ultimate, a new subscription service that bundles Xbox Game Pass (for console and PC) and Xbox Live Gold for $14.99 per month, saving you $15 per month compared to paying for these services separately.

If you want to try it out, there’s a promotion happening that gives you a one-month trial of Xbox Game Pass Ultimate for $1. But before you redeem it, you should know that it’s possible to use the trial as a way to save a lot of money on Game Pass Ultimate for the next three years.

Activating the $1 trial can save you hundreds of dollars

Microsoft allows Xbox players to order up to 36 months of prepaid Xbox Live Gold service. And for a limited time, activating the $1 trial will automatically convert future months of service to the more expensive Game Pass Ultimate, saving you hundreds of dollars. For some context on how much money you can save: it costs about $180 for three years of Xbox Live Gold. Add the $1 promotion, and you’re getting three years of Xbox Game Pass Ultimate for about $181. Whereas if you paid the full $14.99 per month for Game Pass Ultimate, those three years would cost you almost $540.

It’s worth noting that this is a one-time offer. if you’ve already used the offer to get a month for $1 (sadly raises hand), you’ve used up your opportunity to convert Xbox Live Gold to Game Pass Ultimate. However, if you haven’t used it yet, here’s how to get the biggest bang for your buck.

How to convert your XBL service to Game Pass Ultimate

To get in on this complimentary conversion, you’ll first need to buy a Xbox Live Gold subscription (assuming you don’t have one already). Microsoft is likely to end the sale of Xbox Live Gold at some point, as it funnels players into buying Game Pass Ultimate. But for now, you can still buy digital codes for the service from Amazon in three, six, or twelve-month increments.

The next step is to activate the Xbox Live Gold codes on your account, either through Microsoft’s website, or directly through your Xbox One console. Microsoft states that the terms of this promotion are subject to change, so I’d do this sooner than later, as there’s no indication as to when it will stop converting Xbox Live Gold into Game Pass Ultimate.

It’s now safe to take advantage of the $1 Game Pass Ultimate trial. Once you redeem the offer, you’ll see something similar to the image above when you click the “Services & subscriptions” tab on Microsoft’s site.

In my case, I wasn’t aware of the strategy above, so I paid more than I could have, but at least I now have a few months of Game Pass Ultimate. (I have commitment issues with subscription services that aren’t Spotify or Hulu, so I only redeemed three months worth of Xbox Live Gold.) Here’s hoping that you can squeeze even more value out of this promotion.