The points card still works on the console, if you try to redeem on the Xbox Live website it will tell you it has to be redeemed on the console. Once you put the code on the console it will just give you credit equal to the value of the points on the card. I bought a points card shortly after the switch to local currency and that is the process I went through.
" I thought you were going to fight alone; I said come alone...I didn't say anything about me." G.O.B.