so do have a automatic one year warranty when i bought my 360 cause my 360 can't read my games but it doesn't have the red rings and i havn't had my 360 for a year yet, so will microsoft repaire it for free?
Yes Microsoft will repair it for free. Just call Microsoft and they will send you a box overnight to your home, then you send it back in the box overnight (With no cost to you of course) and they fix it and send it back, all for free.
If you just bought your 360 Recently I am not sure if the new warranty applies to you, but it should.
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