When United started talking bankruptcy, it’s mileage earning credit card partner Bank One started seeing fewer new applications. Folks decided they’d rather earn miles on a less risky carrier.
The Mileage Plus Visa is such an important part of Bank One’s business that they coughed up almost half of United’s debtor-in-possession financing to help them through restructuring.
Even Bank One’s unprecedented 20,000 bonus miles signup offer (not to mention offer of an upgrade certificate, companion ticket, and 2500 additional bonus miles for adding cardholders to the account) hasn’t seemed to stem the tide.
