I put the code in for my Upgraded Red Sparrow on my Xbox 360. I then launched Destiny, and was able to grab the Upgraded Red Sparrow from the shop. Later, when I launched Destiny on Xbox One, I can't access the Upgraded Red Sparrow. While hovering over the description for the Sparrow S-10V, it says in red "Requires Preorder Exclusive."
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Set ur Xbox as ur primary home and see? Not exactly like os4 but worth a shot. Thanks boomboomboomman.