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I doubt it is true... Especially since MS has some major training with RMA last Gen with the RRoD and all... They might ask you for your CC info and to have the money available even though I even doubt that... But usually they send you a return box with the new one with a pick up you can set yourself...

but in any case if you want to know just go live chat with Microsoft store customer service employee on their website... They've been quite efficient with my needs in the past... Even with the twisted request I ask with all my international purchase .... Actually one of smoothest experience I had with customer service at least on the US one