Air Miles cancels expiry policy: Dec 2016 (Canada)
Dec 1, 2016, 3:33 pm
#1
Original Poster
Join Date: Sep 2010
Location: Canadia
Programs: A loyal Amerisuites customer... oh wait
Posts: 2,033
Air Miles cancels expiry policy: Dec 2016 (Canada)
Dec 1, 2016, 9:16 pm
#3
A FlyerTalk Posting Legend
Join Date: Apr 2004
Location: GVA (Greater Vancouver Area)
Programs: DREAD Gold; UA 1.035MM; Bonvoy Au-197; PCC Elite+; CCC Elite+; MSC C-12; CWC Au-197; WoH Dis
Posts: 52,134
Came by a few months ago. http://www.flyertalk.com/forum/miles...zz-canada.html
Dec 2, 2016, 9:54 am
#4
Original Poster
Join Date: Sep 2010
Location: Canadia
Programs: A loyal Amerisuites customer... oh wait
Posts: 2,033
But certainly many of us have had to help out a few family members and friends with their expiring Air Miles accounts.
And, most of the Air Miles I've earned have been from American Express card churns. If they keep offering, I'll keep enrolling.
Dec 2, 2016, 10:45 am
#5
Original Poster
Join Date: Sep 2010
Location: Canadia
Programs: A loyal Amerisuites customer... oh wait
Posts: 2,033
From Air Miles' parent company filing with the SEC:
At this time LoyaltyOne anticipates the amount of the expected charge to be between USD $180 million and $250 million.
Going forward, LoyaltyOne will adjust the value proposition to collectors to offset the lost economics resulting from a reduction in the breakage rate estimate and to maintain, as closely as possible, the economics of the AIR MILES reward program prior to cancellation of the expiry policy.
https://www.sec.gov/Archives/edgar/d...88/form_8k.htm
At this time LoyaltyOne anticipates the amount of the expected charge to be between USD $180 million and $250 million.
Going forward, LoyaltyOne will adjust the value proposition to collectors to offset the lost economics resulting from a reduction in the breakage rate estimate and to maintain, as closely as possible, the economics of the AIR MILES reward program prior to cancellation of the expiry policy.
https://www.sec.gov/Archives/edgar/d...88/form_8k.htm
Dec 2, 2016, 11:23 am
#6
A FlyerTalk Posting Legend
Join Date: May 2002
Location: YEG
Programs: HH Silver
Posts: 56,446
I feel for the multitude of member who rushed to use their points for overvalued travel and merchandise they didn't want to need. Talk about a way to alienate a good percentage of your collectors.
Dec 2, 2016, 11:27 am
#7
Join Date: Nov 2013
Location: Bracebridge, ON
Posts: 341
Time to talk about a class action representing everyone who used there miles in a rush at a lower value than they should have?
I know a few people who were saving for travel and spent them on merchandise instead to avoid expiry.
I know a few people who were saving for travel and spent them on merchandise instead to avoid expiry.
Dec 2, 2016, 11:55 am
#8
Original Poster
Join Date: Sep 2010
Location: Canadia
Programs: A loyal Amerisuites customer... oh wait
Posts: 2,033
"Going forward, LoyaltyOne will adjust the value proposition to collectors".
I expect that the number of Air Miles required for any reward will spike, maybe even before January 1.
I expect that the number of Air Miles required for any reward will spike, maybe even before January 1.
Dec 3, 2016, 5:53 am
#9
Join Date: May 2010
Posts: 159
I am so angry with Air Miles! I have been saving for several years in order to accumulate enough miles for a trip to Asia. I was going to lose about 2000 miles on December 31, and another 1000 in the spring. To see use the miles before expiry, I wound up using them to purchase car rentals in Las Vegas and Florida. The physical rewards that were offered were ridiculous and overpriced. I really did not want gourmet toasters or espresso machines!
So now, 30 days before the expiration policy was about to come into effect, they reverse their decision, and thousands of collectors are sitting with junk they didn't want, but bought to use up their hard-earned Miles!
So now, 30 days before the expiration policy was about to come into effect, they reverse their decision, and thousands of collectors are sitting with junk they didn't want, but bought to use up their hard-earned Miles!