You're kinda pointing out the obvious. While at first blush, it would make sense for them to have us "invest" in points. After all, they can (and did) turn around and devalue them before you can use them. And yes, they could use the money now without paying you interest, kinda like forever stamps at the post office. But looking at the other way, why would they give you a discount that you could turn around and spend today? Then everyone would do it, and they would lose money. The closest you can get to this is the occasional SW gift card on sale below face value. I've gotten a few of these.
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