If you’ve been collecting Air Miles for more than five years to bankroll a dream vacation, you need to start booking sooner rather than later.
The company announced in 2011 that miles would disappear from accounts on a quarterly basis once they hit the five-year mark, starting on Jan. 1, 2017. From then on, whenever you use your miles, the oldest ones in your account get used first.
Air Miles says its quarters will end on March 31, June 30, Sept. 30, and Dec. 31. So, an unused mile you received in January 2014 would expire on March 30, 2019.
The clock starts ticking soon, and travel takes time to plan.
Here’s what you can do to make sure you get the most out of all those times you swiped your blue or gold card at gas station, liquor store, or grocery checkout.
Check your balance
Log onto AirMiles.ca to find out how many dream miles (used towards traveling, merchandise, event tickets, prize ballots, etc.) and cash miles (used in place of cash at sponsor locations for everyday shopping like groceries or gas) you’ve racked up.
You can request an expiry statement that will break down when your older miles will expire to get an idea of how urgently you need to use them.
Air Miles says they can provide this information within 12 to 24 hours, but many users have complained on Facebook and Twitter about technical issues and slowdowns.
Transfer your miles to turn back the clock
If you have a lot of miles but no plans to travel or make other redemptions, transferring your balance to a different account could be your best option. The company will reset the expiry date on any transferred miles to five years from the date of the transfer. Of course, there is a fee for doing that.
Redeem Air Miles cash at sponsor locations
It’s not as exciting as planning a trip, but taking advantage of in-store and online cash rewards are practical ways to eat up excess miles.
Ninety-five cash miles gets you $10 off your purchase at several major grocery store chains, Shell gas stations, as well as Cineplex theatres, the Gap, Hudson’s Bay, Starbucks, and The Keg, just to name a few.
Getting the best value
The dollar value of one Air Mile is $0.121, according to Ratehub.ca.
Their research found that when it comes to booking flights, the best value is travel to the U.S. Midwest, Manitoba, and the East Coast, especially during peak travel times. For example, a flight to Minneapolis or Kansas City averages out to $0.231 per mile, while Seattle or Portland costs $0.041 per mile.
And forget about redeeming your Dream Miles for merchandise if you’re looking for value. Ratehub.ca says those fancy blenders and Bluetooth speakers average out to just $0.0715.
