- Citigroup expects $150 million gain on sale of Hilton cards to American Express by Reuters. Actually thought it might have been higher than this.
- Google Will Shut Down the API that Powers ITA Matrix by Travel Codex. Looks like ITA Matrix will continue to operate, fingers crossed.
- Expecting an Ebates Big Fat Check? Get up to a 15% Bonus with an eGift Card Instead! by Travel With Grant. I don’t use Ebates much but if you do this might be a nice option for you.
- Chase Upgrade Offer: $1 Money Maker by TravelinPoints. This is for the Chase Disney card, outside the $1 there might be some use as well.
According to the article, the $150M is the gain on sale, not the total proceeds. Gain on sale would be the amount above Citi’s internal book value is for that portfolio. Just making up numbers as an example, but if they have a book value of $350M, and Amex is paying them $500M, then they’d recognize a gain on sale of $150M.
If anyone goes to the actual Reuters article it says the portfolio value is $1.2 Billion. Dave P is correct.
That makes more sense
When is the best time to cancel the citi Hilton card.
I want to wait to see if Amex will sweeten the pot for people to stay.
I cancelled 6 months ago and Citi still sent me an email saying I would be converted to an Amex. I suppose Amex is paying $xx per account or something, so Citi has an incentive to transfer you anyway.
For those intending to cancel soon, beware…