Check these items first:
- Open the Microsoft Rewards dashboard, then go to Redeem > Order history.
- Find the Xbox gift card reward and check its Status.
- Select Order Details to see whether the reward provided a code or link.
- Select Resend if a confirmation email was not received.
- Check whether the Xbox gift card value was deposited directly into the Microsoft account balance. Microsoft and Xbox Gift Cards redeemed with Microsoft Rewards points are directly deposited to the Microsoft account balance as promotional balance.
If the gift card redemption completed and the Overwatch Coins purchase itself went through but the in-game currency still has not appeared after a week, contact Microsoft Support for the purchase issue.
If the Rewards order is still pending, cancelled, missing from Order history, or no code/details are available, contact Microsoft Rewards Support because that team can investigate Rewards redemption status.
References: