Bad News for MyPoints

December 5, 2002 · 0 comments

Update, 9/2005: See the latest news here.
United Air Lines (UAL), the parent company of MyPoints, is “virtually certain” to declare bankruptcy, “probably this weekend.” (story here)
How’s that going to affect us? People holding points balances at MyPoints would be considered creditors, and bankruptcy protection protects a company from claims by creditors. We would most likely be written off — in other words, lose our points.
My suggestion? Redeem your MyPoints immediately. Don’t collect any more MyPoints until UAL declares bankruptcy and we find out whether MyPoints will continue operations.

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