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Bank of America Rewards Program
Prince is offline Old 02-10-2011, 11:29 AM   #1
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I just want to let you knwo that it expires after 5 years and I just got robbed with 12000 points today.
 
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R0ckets03 is offline Old 02-10-2011, 11:40 AM   #2
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Quote:
Originally Posted by Prince
I just want to let you knwo that it expires after 5 years and I just got robbed with 12000 points today.
dont a lot of rewards program expire if there is no activity after a certain time?
 
bobrek is online now Old 02-10-2011, 12:01 PM   #3
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Quote:
Originally Posted by R0ckets03
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.

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TexasFight is offline Old 02-10-2011, 12:41 PM   #4
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Quote:
Originally Posted by Prince
I just want to let you knwo that it expires after 5 years and I just got robbed with 12000 points today.
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.
 
bobrek is online now Old 02-10-2011, 12:47 PM   #5
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Quote:
Originally Posted by TexasFight
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.bank...ails?mc=mwprwd

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Royals Ego is offline Old 02-10-2011, 12:52 PM   #6
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Did you know automatic re-occuring subscription fees can continue to charge expired credit cards up to a year?

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Prince is offline Old 02-10-2011, 01:42 PM   #7
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Quote:
Originally Posted by TexasFight
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.
That's what I thought until I saw yesterday and I got a confirmation form them today that it thsi is the case.
 
Prince is offline Old 02-10-2011, 01:43 PM   #8
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Quote:
Originally Posted by R0ckets03
dont a lot of rewards program expire if there is no activity after a certain time?
I get email warnings from my airline rewards when they're about to expire. this one just hit me without a waring.
 
TexasFight is offline Old 02-10-2011, 02:11 PM   #9
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Quote:
Originally Posted by Prince
That's what I thought until I saw yesterday and I got a confirmation form them today that it thsi is the case.
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.
 
no_answer is offline Old 02-10-2011, 02:29 PM   #10
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mmhmmm I love reward programs, but I always use mine in time

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bobrek is online now Old 02-10-2011, 02:36 PM   #11
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Quote:
Originally Posted by TexasFight
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.
Why do you seem angry at them for following a clearly posted guideline?

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Xerobull is offline Old 02-10-2011, 02:37 PM   #12
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Quote:
Originally Posted by Prince
I just want to let you knwo that it expires after 5 years and I just got robbed with 12000 points today.
so....what you're saying is that someone or someTHING used 12000 points to rob you?

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thadeus is offline Old 02-10-2011, 03:17 PM   #13
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Quote:
Originally Posted by bobrek
Why do you seem angry at them for following a clearly posted guideline?
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.

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DieHard Rocket is online now Old 02-10-2011, 03:22 PM   #14
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Quote:
Originally Posted by thadeus
He probably feels angry because the guideline is bull****.
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.
 
Rockets Red Glare is offline Old 02-10-2011, 03:27 PM   #15
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Quote:
Originally Posted by DieHard Rocket
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.
 
DieHard Rocket is online now Old 02-10-2011, 03:33 PM   #16
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Originally Posted by Rockets Red Glare
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.
 
wakkoman is online now Old 02-10-2011, 03:35 PM   #17
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Quote:
Originally Posted by DieHard Rocket
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.
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.
 
wakkoman is online now Old 02-10-2011, 03:38 PM   #18
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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.
 
JuanValdez is offline Old 02-10-2011, 04:43 PM   #19
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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!

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roflmcwaffles is offline Old 02-10-2011, 05:02 PM   #20
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Quote:
Originally Posted by DieHard Rocket
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.
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.
 

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