In another small sign of how credit card companies are skimping on their rewards programs (or from their point of view, just conforming to industry practice), some issuers are canceling points if customers pay a bill late. Beginning in September, American Express Blue and Blue Sky cardholders who are late on their bill will lose rewards points earned for that billing cycle. If the account returns to good standing, the forfeited points can be reinstated for a $29 fee for each month of points that you want back. Of course you would have had to have charged at least a couple thousand dollars during that month to make it worth paying a $29 fee. A spokesperson told us: 'This change is consistent with the policy we’ve had in place for many years for our Charge Cards (Green, Gold, Platinum)."  

Citibank is adopting a similar practice. For late payments on Citi cards earning ThankYou points, points earned on that card may not be available for redemption until a customer makes all payments due. There may be a reinstatement fee for each late month (though currently the reinstatement fee is $0).–Chris Fichera