As of Saturday, participants in the Air Miles reward program will be required to use their existing miles before they expire on Dec. 31, 2016.
In addition, reward miles earned after New Year's Eve will only be valid for five years after they're first posted.
Air Miles collectors gather miles by making qualified purchases from the program's participating sponsors.
Until now, the miles — redeemable for eligible merchandise, including electronic goods, plane tickets and vacation packages — never carried an expiration date.
The changes come on the heels of a new instant-redemption feature called Air Miles Cash.
The program, which begins in March, will allow collectors to instantly cash in their miles at participating retailers, using them towards purchases for items like gas and groceries.
Under the new program, 95 reward miles will earn collectors $10 off while cashing out their purchases. Collectors will be able to redeem in $10 increments up to a maximum of $200 per day, including taxes.
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