It never ceases to amaze me how ready people will assert "fleecing", or sometimes even fraud or scams, for *completely voluntary and transparent transactions*. Points.com isn't misleading anyone... they clearly publish their conversion rates and make good on them. If you don't like them, you don't need to be "fleeced"... just don't use them. Look elsewhere, or don't convert points at all. Points.com is a private business, not a public service nor a charity, and is entitled to set whatever price they'd like in the pursuit of profits. If McDonald's raised the price of their cheeseburger to $50, would you assert it is a scam/fraud/fleecing, too?