VIP Points expire? Is this new?

[thlien]

Just got an email from Lego.com.   Didn't realize points expire....

 

We don't want you to lose them, so please be aware that 553 points on your VIP Account are due to expire on December 31st. This is because all VIP Points expire 2 years after they were earned.

Please note, you have a reward available to spend on your next LEGO purchase! Why not browse our online shop today to make sure you don’t miss out.

[Sharkbait]

Yes they expire, and no it isn't new. 

 

They are nice enough to notify you though. And I'm sure they don't wan't people banking all of their points, and it gets them back into the store to buy more items. 

Edited June 29, 2016 by Sharkbait

[rcdb1984]

I just got the same thing too....I was like....Ok wow. 

[gregpj]

Why on earth are you guys hoarding your points for so long? That's money in the bank making you absolutely ZERO money now or in the future.

Weird.

[terrymc4677]

Also, if Lego decides to drop the ban hammer you will lose them. Use them up, guys!

[inversion]

55 minutes ago, gregpj said:

Why on earth are you guys hoarding your points for so long? That's money in the bank making you absolutely ZERO money now or in the future.

Weird.

Exactly. Hoarding and buying a 'free' set might feel good, but it is only an illusion. Actually, just for nerding out, if you can store your actual money in an interest rate bearing account, then not spending VIP actually instead of using them up at your next purchase is a net loss (although very minimal). Unless interest rate is negative, hoarding VIP has no benefits. 

The single case where hoarding makes sense is if you plan to get out of the hobby permanently and want 0 points on your account.

VIP is just a generic 5% conditional rebate scheme. I just crunch them every time.

[gregpj]

3 minutes ago, inversion said:

Exactly. Hoarding and buying a 'free' set might feel good, but it is only an illusion. Actually, just for nerding out, if you can store your actual money in an interest rate bearing account, then not spending VIP actually instead of using them up at your next purchase is a net loss (although very minimal). Unless interest rate is negative, hoarding VIP has no benefits. 

The single case where hoarding makes sense is if you plan to get out of the hobby permanently and want 0 points on your account.

VIP is just a generic 5% conditional rebate scheme. I just crunch them every time.

I don't spend them every time... but that's because I've frequently visited the US where my points have been worth 20-30% more depending on the exchange rate. I also spent some points on a recent visit to Europe where my points where worth 47% more!

Otherwise, if it makes you feel good to hoard a few, by all means .. but not spending points you've had for 2 years? Either you're not buying enough LEGO or you should be giving me those points!!

[Anomander]

You can also transfer your points to another VIP member if you're not going to use them befroe expriration. You just have to contact LEGO and nominate the fortunate donatee.

 

I'm always here for you...

[rcdb1984]

if you use points but dont go to 0 for two years thats why you can still use your points and still get the email 

[gregpj]

12 minutes ago, rcdb1984 said:

if you use points but dont go to 0 for two years thats why you can still use your points and still get the email 

According to the message that just isn't true unless they make you use points LIFO just like their backorder shipping.

Quote

We don't want you to lose them, so please be aware that 553 points on your VIP Account are due to expire on December 31st. This is because all VIP Points expire 2 years after they were earned.

 

[vincevaughn]

Wow, Did not know this.  Thanks for the heads up.

Its descent of them to give you 2 years though, seems like many companies give you around 6 months to expired points.

[MrToes16]

Not sure what the stance on hoarding points is coming across here. Is it that hoarding points for too long and being exposed to expiration bad? (Obviously, yes)

Or is hoarding points overall just a bad thing? (I don't think it's bad)

 

I used to accumulate like $10 - $20 in point rewards before I spent them to give myself a little discount. But then I stopped and wanted to accumulate more specifically for the purpose of dumping them on Black Friday deals. I definitely know they will expire but I definitely have a plan in place to use them well before that happens. 

I don't consider points "money in the bank" because you can't cash out for actual cash...there is technically no cash value but rather a discount offering when you choose to use them. 

[tractorboy]

If you're hoarding points then that is just money doing nothing, that could be put to use making more money. You don't get anything extra out of spending them at a later date.

Edited September 7, 2016 by tractorboy