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Citibank has developed a test version of its own digital currency, currently called CitiCoin. According to an article in the International Business Times, Citi’s currency was inspired by bitcoin, the popular yet controversial currency used for anonymous digital transactions. In theory, Citibank’s backing will bring some formal structure to an otherwise unregulated technology.
In its discussion with IBT, Citibank reps said the company is currently in talks with several countries, with the hope of ultimately building a “state-backed digital currency.” Of course, if such a currency is adopted, it could affect how we pay for goods and services, but with the shift away from paper money already well underway, it’s unclear how big of an impact a currency like CitiCoin could make on individual consumers.
The Points Guy Assessment:
The Chase Sapphire Preferred is a great pick for the beginner and the frequent traveler. The CSP has superb travel benefits, double points on certain purchases, and a 50,000 point sign up bonus. The $95 annual fee is waived the first year so this puts it as one of the less expensive cards, while still allowing you to earn one of the most valuable point currencies.
- Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
- Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards