Originally Posted by
Mr Jones
Having 125000 sitting my account waiting for a day that they may or may not take the points is not acceptable to me. At what point in time then would you draw the line and consider them to be "ok to spend?" If they come to me later and apologise for their error and ask then for payment or points I do not really have a problem and together we will resolve issue - but what I do have a problem with is just taking them 8 months later as has happened above
Why should this be any different from the IRS. If they require you to hold financial records for 5-7 years, why not ICH/PC having similar recourse? If you are knowingly cheating why should you be shielded when the error is caught? How do you think your bank would deal with a similar situation? As I've noted above, ICH/PC would have the right to garnishee any points in your account and/or earned until the arrears are covered...or cancel and/or suspend your account until the situation is rectified.
Most FF/FS programs have an accountable figure for miles/points that will never be used for a variety of reasons. This has been said -- according to the AC Aeroplan investors prospectus -- to be in the range of 15%. Given the annual churn and use of miles/points in these programs, this represents a 7-year lifespan before those miles/points are written off the books. This also coincides with the lifespan many programs have for miles/points before they must be used. So I'd see nothing unusual if ICH/PC had the right to audit and collect going back as far as 7-years.