So, back to the original question -- what to do with your MyPoints? Do I cash out now? Do I wait? Now THIS is my opinion, and you can take it or leave it...and as I said, not being an accountant, I may be misreading the financials. But this is how I see it: United Airlines plans to be out of bankruptcy by February 2006 at the latest. That means, by then they will already have sold MyPoints. Will the new owners fork over the 3 million for the database, or the 21 million for the whole business? It really doesn't matter, because NEITHER projection shows the unsecured creditors (that's the pointholders) getting paid. My suggestions are that A) you cash out now and do not do any more offers or shopping through MyPoints -- remember, there's a pretty lengthy wait time after you complete most offers before the points become available for spending, B) you change your email address on file with MyPoints to a spam address and, C) After receiving your last redemption (assuming you still have time), change your entire profile with MyPoints to something bogus -- fake name, fake age, fake number of kids, fake mailing address... as a precaution should the site be sold to spammers or to some less-than-trustworthy company to fold into their own existing rewards program (not naming any names (coughMEMOLINKcough) ).
And hey, if I'm way off-base with how this plays out... no harm done, right? You did get something for your points, you can always change your profile back, and in the meantime, you probably would have earned more by doing your shopping and offers through MyPoints' competitors (check out my favorites, QuickRewards.net and CreationsRewards.net -- may not be as slick-looking but they offer better shopping rates and better customer service).