no option to cash in reward credits

Hello,

From the FAQ on Vault Credits:

I claimed Rewards Credits from the vault. When will I receive them?

If you claim Rewards Credits from the MyVIP Vault, they should appear as pending in your account within 96 hours. Once they are pending in your account, the normal deposit process kicks in. Generally if you have over 5,000 Rewards Credits pending in your
account in the first half of any given month, that amount will be converted to your local currency and deposited into your Microsoft account on or around the 30th of that same month. If the Credits show as pending in the second half of the month, that amount
will be deposited into your Microsoft account on or around the 15th of the next month.

Please note you need at least 5,000 Rewards Credits pending to automatically trigger a deposit, though you can request a deposit for the next scheduled date as long as you have 1,000 Credits pending. Also, if you have ongoing issues with us depositing
into your account, such as your account not matching up with your billing location, you might want to consider choosing a different prize from the vault, as we won’t be able to deliver your Rewards Credits until the deposit issue is resolved.

The request deposit button is only available when you have at least 1,000 credits pending, but less than 5,000. It's just so you can have them deposited before needing to have 5,000 pending first. Once you reach 5,000, they are automatically scheduled to
be deposited by the following 15th or 30th of the month so there is no longer a need to request one. If you get to 5,000 between the 1st and 15th, they are deposited at the end of the month. If you get to 5,000 between the 15th and 30th, they are deposited
by the 15th of the next month.

What you are referring to is a part of the Xbox Live Rewards program. Those are rewards credits not MS points.

What are Rewards Credits and how can I use them?

A. Rewards Credits are a way of keeping track of the cash you earn through Xbox Live Rewards. Once you accumulate 5,000 Credits or more, we will automatically convert them into to your country's local currency and deposit your cash into your Microsoft account.
Then, you can head over to the Xbox stores to purchase your favorite games, Movies, Avatar props and much more!

What is the monetary value of Rewards Credits?

A. 5,000 Rewards Credits are equal to $5 USD.

For further questions visit the Xbox Live Rewards site.

http://rewards.xbox.com/

Me too. Tried cashing in gems for rewards credits but i got the same error message.

Hello Unique Hatton,

We only schedule a deposit automatically at 5000 or more pending Credits. Since your pending Credit amount was beneath this amount, it was not automatically scheduled. Furthermore, we only deposit twice a month, during the middle and end of the month. Since
you only requested your deposit on the 14th of this month, it was not made in time to be included in the mid-month deposit, and will therefore be a part of the end of month deposit.