According to a Valuemags rep, goldpoints told them they were putting a hold on all large orders for 30 buisness days (6 weeks). This applies to both posting of large order and redemption for small orders that already posted if your account balance is large (over 1 million gps). On the other hand the Goldpoints CSR is telling me that my account is blocked till Feb 10, 30 days after Jan 10. Since I placed no valuemags orders after Dec 24, I asked him why 30 days from Jan 10, but the CSR didn't know.

I suspect goldpoints figured out that they are going to lose money in this promotion. In another thread Randy Peterson says a new VP is now in charge of goldpoints. This suggests that the previous VP was canned for allowing a money losing promotion to get this big and the new VP is trying to minimize goldpoint's losses by :

1. Reducing the points awarded to net purchase rather than gross purchase.

2. Delay postings/redemptions for as long as they can legally get away with it (6 weeks + a few more days according to their terms) and being vague about their reasons in the hope that people will cancel their valuemag orders and thus let goldpoints off the hook.

I think my best policy is to wait goldpoints out, since I have 60 days after my credit card statement date to contest charges.

[This message has been edited by ananthar (edited 01-21-2002).]

[This message has been edited by ananthar (edited 01-21-2002).]