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Breaking Down the Air Miles Cash Rewards Option

BE SURE TO CHECK THE DATE OF THE COUPON/POST - Old posts are NOT removed as they must remain in-order for you to find this site and the most recent deals.

If you haven't heard Air Miles has released two HUGE news announcements in 2012. The first was that air miles will now expire after 5 years and the second is that AirMiles is introducing an Airmiles Cash Reward option.

Obviously, having your air miles expire is horrible but there is little that we can do to change that. The 2nd option Cash Rewards is that something that everyone CAN and SHOULD AVOID!

Briefly, AirMiles has split what use to be just Air Miles into two systems: Cash Rewards and Dream Rewards. Dream Rewards are what everyone was and is collecting by default. Cash Rewards, the new system, are accumulated at the same rate as regular airmiles. The only differences is that once you have 95 air miles you can trade these in at participating merchants for $10.

This means that each "Air Mile" using the cash rewards option is now worth $9.50. However, if you use your Airmiles for a gift card you will spend your air miles at a rate of $8.25 (or less). This is a 20% mark-up by cashing your airmiles in directly at a merchant. This is a HORRIBLE way to use your airmiles.

What can I do to stop this?
Obviously, we recommend that you don't collect the Air Miles Cash Rewards. The 'regular' airmiles are collected by default so if you have done nothing you are good. If you've changed your account to start collecting 'Cash Rewards' revert back to only collect Dream Rewards asap.

How do I redeem my Air Miles Dream Rewards?
Simple. You can call Air Miles at (1-888-AIRMILES) or login at airmiles.ca. If you want to check your Air Miles balance see our article here. If you need to setup your online account see our article here.

UPDATE ---- February 2nd, 2012
Thanks to Martin who pointed out that they will be phasing out the gift cards from their dream rewards section. This is SAD news, however, I was only using the gift cards as an example. You can still redeem your Air Miles for a MUCH better rate than $10 for 95 Airmiles!

Comments

But once they start using the cash reward feature in March, the gift cards will be dropped.

Do you know that they will be removing the gift cards for a fact? Or are you just guessing? I’d like to add this to my site/article if it’s true.

I believe you mean 9.5 Airmiles per dollar.

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