Is American Express leaving AIR MILES?

Is American Express leaving AIR MILES? As of September 30, 2023, Amex will discontinue all of its Air Miles co-branded credit cards, and existing cardholders will be transitioned to a Membership Rewards card instead.

Am I going to lose my AIR MILES?

Here's the catch. Air Miles themselves do not expire. But, if your account “expires” by being “dormant” (or inactive) for 24 consecutive months, then the points on it will disappear. An account is considered inactive if there are no points transactions within that period.

Is AIR MILES in financial trouble?

AIR MILES: Loyalty Ventures declares bankruptcy and BMO buys the program. To the point Loyalty Ventures, the company that owns AIR MILES, has filed for bankruptcy. On June 1, 2023, BMO confirms the purchase of the loyalty program. *** June 1, 2023 : The AIR MILES program is officially purchased by BMO.

Is 200K Amex points a lot?

While 200K Amex points will typically only give you about $2,000 in value when you shop for flights in the Amex travel portal, you can sometimes find Business or First Class flights — that can normally cost over $10,000 — for only 200K points, when transferred to a frequent flyer program.

How much is 2 million Amex points worth?

The value of 2 million AMEX points can vary depending on how they are redeemed. AMEX points can be used for a variety of rewards including travel, merchandise, gift cards, and statement credits. Assuming an average value of 1 cent per point, 2 million AMEX points would be worth $20,000.

How far will 50000 AIR MILES get you?

50,000 American Airlines miles are worth about $645, which is the equivalent of at least one round-trip flight between New York and Los Angeles on American Airlines.

Who is taking over AIR MILES?

BMO has completed its acquisition of Air Miles from the defunct Loyalty Ventures Incorporated. This is an enormous purchase of a famous loyalty brand for the Bank of Montreal, and came with a price tag of $160 million (USD).

Why are companies leaving AIR MILES?

Partners that left the program did so because of the cost of participating, Mr. Sojka said. Some found it was cheaper to start their own loyalty programs, or join another program. Sobeys has linked up with Bank of Nova Scotia's Scene+ program, while the LCBO now offers Aeroplan points.

How do I keep my air miles from expiring?

What are the disadvantages of AIR MILES?

On the downside, airline-specific cards will often limit your ability to shop for the lowest-cost ticket because you are only earning and redeeming rewards with a single carrier. Sometimes, the rewards can be redeemed at more favorable rates, especially during off-peak travel times.