Do you collect Air Miles?
If so, you may want to pay attention.
Air Miles is one of the more popular "points" / "rewards" programs here in Canada. You shop at participating retailers and show your card and earn points. Collect enough Air Miles and you can get yourself all kinds of rewards (and yes flights are amongst the rewards offered).
So Air Miles is changing. So far the Air Miles you had collected never expired. Well that's going away. Effective Dec 31st 2011, Air Miles have a 5 year life span. You use them or lose them. In addition Air Miles is introducing something called Air Miles Cash where you can automatically convert your Air Miles to "Cash" and redeem the Air Miles Cash at any participating retailer for stuff you like to buy ... just like having a Debit card.
But of course not all is as simple as it seems. The rate of exchange between $$ and Air Miles Cash is not the same as the "value" available if you redeem for rewards (called "Dream Rewards" from now on) - 95 Air Miles = $10 Air Miles Cash. And you need to pre-select whether you wish to divert your points to "Cash". Its not clear to me if you get to re-classify those points to Dream Air Miles.
If you do nothing, everything continues as usual and you continue to collect Air Miles in your "Dream Rewards" account. Just make sure you use them within 5 years of earning them.
For more details check out the Air Miles website.
Do you like this change?