The Consumer Financial Protection Bureau has accused some credit card companies of breaking the law by devaluing accrued points, airline miles, and other rewards intended to entice cardholders. The bureau claims that major issuers often engage in a “shell game” where they deny consumers the rewards they have earned.
This practice is seen as a way for card issuers to keep their profits high while keeping customers from reaping the benefits of their loyalty programs. The Consumer Financial Protection Bureau is taking action to protect consumers and ensure that these practices are stopped.
Source: https://www.washingtonpost.com/business/2024/12/18/credit-card-rewards-warning-cfpb