Are you ready for REDEMPTION?
No, not that kind. It’s the new REDEMPTION CARD from CitiBank. The way it works is similar to Airline Rewards programs. You basically go shopping at your favorite retail store. But at the counter, you have the option of paying with cash or with your Redemption reward points. To use the card as a standard credit card, simply tap the “Regular Credit” side of your card, wait for the LED light, then swipe as usual and you’re done. But to use points, tap the “Request Rewards” side of your card, wait for the LED light, swipe as usual, and your purchase is made using your accumulated points. Collect enough points, and you could walk out of the Apple Store with a new MacBook Pro or iPhone 4 — all without spending a dime!
So far, there’s no mention as to how the LEDs stay lit, how the battery stays charged, or how long the selector buttons will hold up over time. There’s also no mention as to how you’ll be able to easily check your point balance or split payments between points and dollars, but perhaps now we’re just splitting hairs. The REDEMPTION CARD is currently in beta trials with a small group of consumers, but a much larger U.S. trial is expected next month. It could end up in general use by 2011.
