Just got an interesting email that I did not expect. The Grand Reserve Mastercard that I (and i assume a fair amount of others signed up for as part of the special offer for BD12 is shutting down. I never saw something like that happen before… It is a good sign that they are paying out the rewards… but very interesting that a credit card would shut down like that
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As a valued Grand Reserve World Mastercard cardmember, we want to ensure that you’re informed about important changes to your account.
On March 9, 2022 the Grand Reserve World Mastercard program will end (“the program closure”), including the closing of your Grand Reserve World Mastercard, issued by Celtic Bank, and the Grand Reserve Rewards program, provided by Vertical Finance, Inc.
If your card anniversary date falls after December 17, 2021 you were not charged a renewal annual fee; your continued use of the card through the program closure is provided at no fee. If you were charged an annual fee after March 9, 2021 you will receive a pro rata refund for your annual fee prior to the program closure as a credit to your card.
We will not renew any annual fee benefits such as your Priority Wine Pass or magazine subscription between now and the program closure. Your existing subscription and wine pass will continue to work until its prior expiration date.
You may continue to earn points as before, up to and including the date of the program closure. You may redeem points via the Grand Reserve Catalog or pay with points at the ProofLoyalty store.
If you choose not to redeem your points prior to the program closure, you will be issued a prepaid virtual debit card equal to the value of your rewards points. To calculate the value of your rewards points we will multiply your balance at the program close by $0.008 per point and round to the nearest cent. You do not need to take any action to receive a distribution of your rewards points on a prepaid card, although your account must be in good standing in order to be eligible for a cash distribution. The virtual card will be delivered to your email address on file. Please allow up to one week for distribution of your virtual card (March 16, 2022).
If you have a balance on your Grand Reserve World Mastercard account after the program ends:
You will receive monthly billing statements until the balance is paid in full.
The terms of your account, as stated in your cardholder agreement, will apply until your balance is paid in full.