Nu Colombia launches NuPlus, an exclusive rewards pilot program

Nu Colombia, a subsidiary of Nubank in the country, announced the start of the trial period for Nu Plus, its pilot program for a recognition program initially designed for select credit card users. These users will be chosen randomly, provided they meet certain eligibility criteria, such as payment capacity and financial behavior. More than just a points program, Nu Plus is a way to recognize customer preferences and help them maximize their finances sustainably and transparently, aligning with Nu’s purpose of empowering people to take control of their finances.

The Nu Plus pilot program automatically activates when users reach a monthly spending goal with their credit card. This provides them with points (Nu Points) that can be redeemed for cash to pay down their credit card balance and interest rate reductions. Additionally, suppose they also have a savings account with Nu Colombia Compañía de Financiamiento S.A. In that case, they will receive an exclusive 0.5% increase in the yield of Cajitas (Money Boxes) while the pilot program is active.

The program was launched this week in a first phase called the trial period, with an expected participation of over 50,000 Nu customers selected randomly. This allows individuals to learn about, test, and provide feedback on the program to refine it and offer the best possible experience.

“Our strategy is guided by the premise of having customers who love us fanatically. That’s why, after months of connecting with them, listening to them, and delving into their preferences, we have developed “Nu Plus,” a fundamentally different option from what’s available in the market,” says Santiago Matamoros, Product and Design Director of Nu Colombia. He adds, “Nu Plus is a new way to recognize our customers’ preferences and help them improve their financial habits, allowing them to transform their regular credit card usage into real benefits they can invest in themselves. We hope that over these months, they will share their feedback with us so that we can make this product a transformative experience for over a million customers in Colombia.”

How does it work?

It’s worth remembering that Nu Plus is in its first phase, known as a pilot program, with an expected participation of over 50,000 Nu customers selected randomly.

• Monthly Activation: “Nu Plus” activates when you reach a monthly spending goal with your credit card between the 1st and the 27th of the month. It remains active as long as you maintain that goal monthly, considering the aforementioned cut-off date.
  
• Real benefits for you to invest in yourself: After reaching the spending goal established in the pilot program’s conditions, you will earn Nu Points that can be redeemed to reduce your total debt or lower the interest rate on some of your purchases up to USD 725.56. Additionally, if you have a Nu Account, you will receive an additional 0.5% yield on your savings boxes through a simple and hassle-free experience.

• Renewal: To keep “Nu Plus” active, you only need to continue reaching the monthly spending goal of USD 217.47.