Bank of America Rewards Program

dont a lot of rewards program expire if there is no activity after a certain time?

 

Airline points tend to expire 18-24 months if there is no activity. I assume my AMEX and WF points expire, but since I regularly acquire them, I don't know.

 

Care to elaborate?

I've been accumulating points with Bank of America for over a decade... but I've never once used them on anything.

Are you telling me that every year I am losing points and only keeping the points accumulated in the previous 5 years?

That doesn't make sense to me.

 

From the BOA web site:

Points expire five (5) years from the end of the Billing Cycle during which the Points were earned.

https://www.managerewardsonline.bankofamerica.com/RWDapp/programdetails?mc=mwprwd

 

Did you know automatic re-occuring subscription fees can continue to charge expired credit cards up to a year?

 

Yup - just saw that I've lost most of my points - since I've been using my AMEX more over the last few years.

Awesome.

Well **** 'em. I've never paid a penny in interest on a CC in my life... So they really haven't made any money off of me. No annual fees and no interest.

**** 'em.

 

mmhmmm I love reward programs, but I always use mine in time

 

Why do you seem angry at them for following a clearly posted guideline?

 

so....what you're saying is that someone or someTHING used 12000 points to rob you?

 

He probably feels angry because the guideline is bull****.

Just posting "No One Is Allowed to Breathe" on the wall doesn't make the rule valid.

 

Yeah. The 5-year window keeps them from having to give too many extremely big rewards payouts I guess. I use CC's very sparingly, but I did intentionally use them for a couple of big purchases recently. I went to look at what I could redeem the points were, and let's just say that the most appealing reward was a $50 gift card. I've always heard CC users argue that the rewards make it worth it, so I was definitely expecting more. I don't know why anybody uses these things regularly.

 

So you ran about $5,000 through your credit card and got a $50 gift card...that does not sound like such a bad deal.

 

Well, on top of that I use it a few times a year for online purchases and a lot during Christmas so I can easily track how much I've spent on gifts. It's possible I had some points expire just like the OP, but I don't keep track of it closely ... I just expected a little more than that with how much I've heard about CC rewards and probably having charged over $10,000 since I got the CC years ago.

It's definitely not a bad deal, but I wouldn't use it on routine purchases/bills and have to worry about paying it off every month just so I can rack up points.

 

You should look into the AMEX card available through Fidelity. You receive 2% cash back on all your purchases, with no limit. No annual fee as well.

 

Usually points information in regards to your balance and when they are expiring is usually printed on your statements. I get being frustrated/pissed off, but you're the one that agreed to the terms. That's your fault.

 

I never think about or do anything with my points. Because of this thread, I just went to the BofA website and redeemed a bunch of points for cash. Thanks!

 

I use credit cards exclusively. I save all the money in my account for every purchase I make then I pay it off 100% at the end of the month.

No fees, between 1-5% cash back, and a really good credit score for doing nothing more than using their service and being sure I pay off at the end of the month.

Seems like a good deal to me.