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As a follow up to the thread about NextCard closing accounts, here are some articles about it:

http://story.news.yahoo.com/news?tmpl=story&u=/ap/20020710/ap_on_hi_te/nextcard_accounts_5
Like most credit card issuers, NextCard offered programs that rewarded accountholders with points based on how much they spent with their cards. The points are supposed to redeemed for merchandise.

Online retailer Amazon.com, which owns an 8.1 percent stake in NextCard, provided one of the credit card company's most popular incentive programs. The FDIC advised NextCard accountholders that Amazon won't redeem the spending points, but Amazon said Tuesday evening it would honor the points.

Amazon ended its co-branding agreement with NextCard shortly after regulators seized the credit card accounts, according to a Securities and Exchange Commission ( news - web sites) filing.

"We don't want customers to worry. They will be able to redeem their accrued points with Amazon.com," said company spokeswoman Patty Smith. "We'll be in touch with customers over next several days on how that will work."



http://story.news.yahoo.com/news?tmpl=story&u=/cn/20020710/tc_cn/942675
http://story.news.yahoo.com/news?tmpl=story&u=/ap/20020710/ap_on_hi_te/nextcard_accounts_3
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