Even if the terms are a bit misleading, common sense dictates this guy is an idiot.
Poetentially another CK situation here.
This is what really ticks me off sometimes. My FIL has Citi TYP, one day I decided to take a look at it and I had to sign up for online banking first... And I realized that he had 200k points expiring on him the last 5 years.. When I showed it to him he was really mad. He tells me, they manage to send all kind of junk emails, all kind of promos which no body cares, but one single email saying that his points are about to expire they don't bother on sending out. Idiots.