The Ontario Government is banning the expiration of reward points starting in the New Year.
As of January first, consumers will be protected from losing reward points they have been saving. For consumer who has already lost their points, they will be able to apply for a reimbursement from a company dating back to October, 2016.
“Many people save their points to use them over time and they should be protected, and it’s especially important this time of year when people are now using their points to buy gifts for loved ones,” said Arthur Potts, MPP.
There are a few exceptions.
Programs can be exempt if the points are for products valued at $50 or less. Inactivity rules are also allowed if they are included in a customer agreement.
To avoid having a company cancel your account, travel blogger Anshul Singh suggests earning at least one point each year.
Singh says overall the ban is a positive step in protecting consumers, but he remains concerned companies will find loopholes.
"I'm worried that companies may react in a way that excludes Ontario from certain promotions that loyalty companies push at."