Citi 2G Credit Card Lets you redeem Points at POS
Citi has been testing a new “2G” Credit Card that lets you redeem points “instantly” at the POS by activating a chip on the credit card. The Citi 2G Credit Card comes in two iterations:
- Citi PremierPass 2G
- Citi DividendPass 2G
The terms and conditions vary on each card.
How it Works
The 2G Credit Card has technology embedded in it (From Dynamics, Inc.) which allows the user to “switch on” the capability to redeem points at the POS. Its a manual function so the user has to “click” a small button located on the card to activate points redemption.
Essentially, the user can use “C” for credit or “R” for rewards. The cardholder simply presses the button on the card for Credit or Rewards. Transactions for Rewards are completed in amounts of $10.00. So, if you do not have $10 in points available in your Rewards account the transaction will simply be a “credit” one.
The credit card can be used anywhere that Citi credit cards are accepted.
The Value of the points redeemed at the POS vary from $.01 (penny a point) to $.008 depending on the card.
- 1,000 points for $10 POS Redemption (Thank You Preferred or Prestige Account)
- 1,200 points for $10 POS Redemption (Standard Thank You Rewards Account)
In the march towards “instantaneous” rewards and total “fungibility” in reward points we see the push to give Loyalty and Rewards members the ability to “redeem” their currency at will instantly. Certainly the 2G card gives the cardholder an ability to redeem their currency faster and “on demand” in one sense. The cardholder still has to manually select a “rewards” transaction by pushing a button on the card, but this is a step in the direction of “anywhere” and “anytime” that the younger generations are used to.
Video – See the Video Below on the Card