Originally Posted by
kdm31091
Although we all wish this is how it worked, it's not. Reward programs are pretty much unregulated and banks can do what they want - close your account, take your points, change value of points, etc. None of it is illegal. Every reward CC that I've seen has terms and conditions t that state they have the right to take your points at any time for any reason. It may suck, but it's the terms we agree to when opening the account.
Do not think so. The CC bank can devalue the points or miles, but it can't take your points or miles without any valid reasons. If the cardholder earned the points and miles, they stay with the cardholder. There are various consumer protections in place.
In this case, if the CC bank wants to close the account due to inactivity, then it should give advanced notice and allow cardholder to remove or spend the points or miles.