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02-13-2009, 02:53 AM
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#1 (permalink) |
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Junior Member
Join Date: Feb 2009
Posts: 1
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If citigroup fails, do I lose my points earned on my Sears Gold Mastercard?
Citigroup administers Sears Gold Mastercard. If Citi fails, do I lose the points that I have earned on my Sears card?
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02-13-2009, 05:26 PM
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#2 (permalink) |
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Junior Member
Join Date: Feb 2009
Posts: 1
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If citigroup fails, do I lose my points earned on my Sears Gold Mastercard?
At this point, there is no way of telling. IF Citi fails, their various operations will be purchased and run by other companies. It will be up the the receiving company.
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02-14-2009, 08:00 AM
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#3 (permalink) |
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Junior Member
Join Date: Feb 2009
Posts: 1
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If citigroup fails, do I lose my points earned on my Sears Gold Mastercard?
Yes, (probably).Another company will buy them out, and they may not honor the points.Never sweat points - they never accumulate to more than 1% of purchaes.Sears points are probably 1/4 of that.Let it go if the company fails./
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02-14-2009, 10:33 PM
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#4 (permalink) |
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Junior Member
Join Date: Feb 2009
Posts: 1
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If citigroup fails, do I lose my points earned on my Sears Gold Mastercard?
Citigroup did not issue your card. One of their banking subsidiaries did. That bank will probably continue to exist even if the parent holding company gets reorganized. If that doesn't happen, then the accounts will be sold to another bank who will probably consider the deal with Sears to be valuable and want to continue it. I don't know the details of the contract between Sears and Citi, but it is entirely possible that the credit is underwritten by Sears and Citi is just being paid to administer the program.
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