Air Miles expiring? Not any more
LoyaltyOne cancels Dec. 31 expiry date
Why are mortgages so expensive in Canada?
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Ratehub.ca
Loyalty One, the company that runs Air Miles is cancelling its plan to allow reward miles five years or older to expire amid plenty of backlash from consumers and government bodies.
“There is uncertainty with provincial governments proposing or considering legislation across Canada so we have decided to cancel the expiry policy so that all Collectors, regardless of location, can be confident that their balances will be protected,” said Bryan Pearson, President and CEO, LoyaltyOne in a statement.
A committee in the Ontario legislature was nearing the final vote on the the Protecting Reward Points Act, which would’ve banned the expiry of points in all loyalty or rewards programs in the province.
The change is effective immediately, which means collectors no longer have to scramble in the coming weeks to use up their points by December 31, 2016, the original expiry deadline.
Aeroplan similarly reverted their mile expiry plan back in 2013 after negative feedback from customers.
Related:
- Best Air Miles credit cards in Canada
- Rewards cards Canadians love the most
- Best retail rewards credit cards of 2016
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