Your bank analogy doesn't fly. The Bank of Canada exists because banks CAN close your account if you don't use it. Granted it's after 10 years of inactivity not 1, but that actual money you earned, inherited, etc. but as you pointed out - a loyalty program is different in that the points were given not paid for. You still get the product or service that you paid for - PLUS the loyalty points. So they don't equal money and while they do have a real value, it must be acknowledged that they are not the same. The emails aren't vague or subtle - the title states to use your account before the miles expire. Botoom line? Read the contract and stay up to date and you won't lose.