Rockstar just put out some alarming news- any GTA V Online save files on PS3 or Xbox 360 will be deleted on March 6, 2017. However, there is a way to preserve your progress.
In an Instagram post from yesterday, Rockstar issued the GTA Online ultimatum: transfer your files from your last gen-console or lose them. Thankfully, Rockstar has given us all the information needed to complete the transfers to PS4 and Xbox One.
The process is fairly simple for both consoles. Follow this link to take you to the information you need. Your RP and Rank will both be transferred with your character regardless of console, but unfortunately you can only transfer one character per Xbox Live or PlayStation Network account.
The update that includes the transfer also brings double GTA$ and RP to the Juggernaut, Vehicle Vendetta, and Lost vs Damned adversary modes as well as sales on a variety of buildings, vehicles, and weapons. This update is the latest in Rockstar’s massive release schedule.