Lloyds Choice Rewards - certain retailers vouchers taken away

Had the same letter - it looks like a decent transition to be honest where we're not getting shafted with regards existing points/fees.

1) Basically any annual fee you have paid in the last 12 months will be refunded pro-rata. So if you paid the fee 6 months before they switch you over, you will get half of it back.
2) You will be notified of your final point balance within 14 days of the account changing.
3) You have 2 months after the account changing to redeem the points.
4) Any unused points will be given as cashback, ROUNDED UP to the nearest 10,000 points (where 10,000 points = £10).

The last point is a big deal - For example, if you had say 8000 points after the 14 days:

a) Do nothing, your points are effectively rounded up to 10,000 and you will receive £10 cashback at the end of the 2 months.
b) If you spend 6650 points for a £10 voucher, then you will be left with 1350 points. At the end of the 2 months, your points are rounded up to 10,000 and you will also receive £10 cashback (effective total of £20)

Basically, monitor your points closely up until you have your final point balance. Work out whether you can squeeze a voucher out but keep yourself within the same rounding up band.