SOLVED Need Another Reason not to get an Xbox One? HERE GOES!

[rainless]

Just got this email in the mail from Microsoft:

We have added $XXX.XX into your Microsoft account, and your Microsoft Points have been retired.

This change will make it even easier for you to purchase your favorite content on Xbox 360, and apps in the Windows Phone Store using your Windows Phone 8!

The currency that we have added to your account today must be used by 6/1/2015. However, gift cards you purchase in the future will not expire.

Microsoft Points cards and codes that you redeem starting today must be used within one year from the date that those Microsoft Points are redeemed.

Any Microsoft Points that you have received as part of Xbox Live Rewards, promotions, or contests will retain their same expiration dates.If you still have questions about expiration dates, please go here for more information.

Still have more questions about Microsoft Points going away? Please visit: https://www.xbox.com/pointsfaq.

Enjoy!

Microsoft Customer Support

Just in case you didn't get that... I'll spell it out:

YOUR MICROSOFT POINTS, GIFT CARDS, AND CREDITS WILL ALL EXPIRE AFTER ONE YEAR.

This... is nutty. In a nutshell what that means is... you get $20 worth of microsoft credit... for a birthday... christmas... or whatever... and you don't use it in a year. You get nothing.

You get $20 and spend 15 and have 5 left over? You wind up with nothing

 

[EarthDog]

Isn't this how most work? I mean, I have a pre-paid visa debit I need to use what is on it by XXXX or lost it...

LOL, so dramatic.

 

[Xeon_KI]

Not what it means

This means they are getting rid of Microsoft points. (what a stupid system, btw) and moving to just regular currency.
To transition this, they have reimbursed you the value of your current Microsoft points back to USD and on those dollars(the ones from Microsoft points only), must be used within a year.

It even says "gift cards you purchase in the future will not expire"

 

[rainless]

Not what it means

This means they are getting rid of Microsoft points. (what a stupid system, btw) and moving to just regular currency.
To transition this, they have reimbursed you the value of your current Microsoft points back to USD and on those dollars(the ones from Microsoft points only), must be used within a year.

Ah I see... wasn't reading closely enough (have a headache...)

Earthdog I'm gonna let that slide this time... but NEXT TIME... (no wait... you're the mod...)

Trying to pull a fast one!

 

[EarthDog]

Shock and Awe Rainless, S n A...

 

[ATMINSIDE]

Shock and Awe Rainless, S n A...

You forgot this for your SnA!

 

[Janus67]

Isn't this how most work? I mean, I have a pre-paid visa debit I need to use what is on it by XXXX or lost it...

LOL, so dramatic.

I believe there were a number of lawsuits that now prevent the value from decreasing over time (no matter what the back of the card says).

I had a prepaid visa that was over a year old (about 18 months) that still had the $100 on it when I regifted it (as a prize) despite saying the same lingo on the back of the card.

 

[ninjacore]

This means they are getting rid of Microsoft points. (what a stupid system, btw) and moving to just regular currency.

LOL'd thinking about the Always Sunny episode with the "Paddy's Bucks"

 

[EarthDog]

I believe there were a number of lawsuits that now prevent the value from decreasing over time (no matter what the back of the card says).

I had a prepaid visa that was over a year old (about 18 months) that still had the $100 on it when I regifted it (as a prize) despite saying the same lingo on the back of the card.

Mine was like 2-3 years... something like that. I never looked into if they would actually take it away or any lawsuits though, so no idea. Its better if it doesn't go away, surely, but I have no trouble spending/regifting gift certs well before a year is up.

 

[Theocnoob]

This is the way every gift card I've ever gotten has worked. The only one I know of that lasts forever is a Tim Horton's (bakeshop/coffee joint. Very popular in Canada) card.

 

[Albaholic]

Mine was like 2-3 years... something like that. I never looked into if they would actually take it away or any lawsuits though, so no idea. Its better if it doesn't go away, surely, but I have no trouble spending/regifting gift certs well before a year is up.

Back in 2010 the FRB (Federal Reserve Bank) changed the law so that gift cards must retain their face value for at least five years (most companies now opt to leave the value intact indefinitely)

Limits on expiration dates. The money on your gift card will be good for at least five years from the date the card is purchased. Any money that might be added to the card at a later date must also be good for at least five years

Source

Yay for useless banking knowledge being burned into my brain.

 

[Silver_Pharaoh]

This is the way every gift card I've ever gotten has worked. The only one I know of that lasts forever is a Tim Horton's (bakeshop/coffee joint. Very popular in Canada) card.

Well not in Canada anymore IIRC.
The Government made some gift card expiration dates illegal here in Canada.

EDIT: My statement is not all true:

Gift cards that can have an expiry date include:
gift cards for one specific service (for example, a gift certificate for a massage at a spa may come with an expiry date and lose its value if not used)
gift cards issued for charitable purposes
From http://www.ontario.ca/consumers/gift-cards
Corrected statement.