Do Credit Card Rewards Points Expire?

Worried your credit card rewards points are about to expire? Find out whether you can still redeem them.

One of the questions to ask when comparing credit card rewards is whether the rewards points expire.

If you want to save up your rewards points over a long time period and cash them in on a big ticket item such as international flights, you’ll need to choose a rewards program where points don’t expire before you can use them. It would be heartbreaking to accrue hundreds of thousands of points only to see them disappear.

expiry of credit card rewards points

Do credit card rewards points expire?

Points do not expire for most of the credit cards rewards programs on the CANSTAR database. However, in some cases where points do not expire, points are capped so that you can only earn up to a certain number of points.

Points do expire for some rewards programs, meaning they disappear from your account and cannot be used. Some programs have both a cap and an expiry date on their points. So it’s definitely worth shopping around before choosing a rewards program.

Frequent flyer rewards points expiry policies

Qantas Frequent Flyer Points and Virgin Velocity Points have their own expiry policies, which are available on their websites. These programs have a ‘soft’ expiry date (your points expire if you do not earn or redeem any points within a certain timeframe) rather than a ‘hard’ expiry date (your points expire within a certain timeframe regardless of your actions). For example, at the time of writing, Qantas requires you to earn or redeem points once every 18 months in order to prevent your points expiring. Velocity points do not expire provided points are earned or redeemed at least once ever 24 months.

frequent flyer point expiry

Compare Frequent Flyer Rewards Credit Cards

The table below summarises which credit card rewards programs on the CANSTAR database have an expiry date for their points at the time of writing (17 August 2017):

Company Product Reward Points Expiry
American Express David Jones credit cards Never expire
Essential credit cards Never expire
Explorer credit cards Never expire
Platinum Edge credit cards Never expire
Qantas credit cards Refer to Qantas points policy
Velocity credit cards Refer to Velocity points policy
ANZ Balance Visa Rewards Never expire
Frequent Flyer credit cards Refer to Qantas points policy
ANZ Rewards credit cards 3 years from end of year points were earned
Auswide Bank Platinum Rewards Never expire
Bank Australia Platinum Rewards Refer to Qantas points policy
Bank of Melbourne Amplify Classic credit cards Never expire
Amplify Platinum credit cards Never expire
Amplify Signature credit cards Never expire
BankSA Amplify Classic credit cards Never expire
Amplify Platinum credit cards Never expire
Amplify Signature Never expire
Bankwest More credit cards 3 years from date points were earned
Qantas credit cards Refer to Qantas points policy
bcu Rewards Never expire
BOQ Blue Rewards credit cards Never expire
Platinum Rewards credit cards Never expire
Citi Classic credit cards Never expire
Emirates World credit cards Never expire
Prestige credit cards Never expire
Qantas credit cards Refer to Qantas points policy
Rewards credit cards Never expire
Coles Low Rate credit cards Refer to Flybuys policy
No Annual Fee credit cards Refer to Flybuys policy
Rewards credit cards Refer to Flybuys policy
Commonwealth Bank Diamond Awards credit cards Never expire
Gold Awards credit cards Never expire
Platinum Awards credit cards Never expire
Standard Awards credit cards Never expire
CUA Platinum Never expire
Diners Club Australia Personal credit cards Never expire
Frequent Flyers credit cards Never expire
First Option Credit Union Cash Rewards Never expire
G&C Mutual Bank Platinum Visa Never expire
HSBC Platinum Qantas Refer to Qantas points policy
Platinum 3 years from date points were earned
Hume Bank Clear Never expire
IMB Platinum Never expire
Jetstar Mastercard Never expire
Latitude Financial Services GO Mastercard 3 years from date points earned
Macquarie Bank Hilton HHonors Refer to HHonors points policy
Macquarie Rewards credit cards Never expire
MyState Platinum Rewards Never expire
NAB FlyBuys Rewards Refer to Flybuys policy
Qantas credit cards Refer to Qantas points policy
Rewards credit cards 3 years from date points earned
Velocity Rewards credit cards Refer to Velocity points policy
QBANK Bluey Rewarder Never expire
QT Mutual Bank Platinum Rewards Never expire
Qudos Bank Visa Platinum Refer to Qantas points policy
Queenslanders CU Platinum MyCard Never expire
St.George Bank Amplify Rewards credit cards Never expire
Summerland Credit Union Credit Card Rewards Never expire
Suncorp Bank Clear Options credit cards Never expire
Virgin Money Velocity Rewards credit cards Refer to Velocity points policy
Westpac Altitude Rewards credit cards Never expire
Altitude Qantas credit cards Refer to Qantas points policy
Woolworths Everyday Rewards Never expire
Qantas Frequent Flyer Refer to Qantas points policy
Source: www.canstar.com.au

Information correct as of the time of writing, 17 August 2017.

If you’re interested in a new rewards credit card, you can compare on the Canstar website. You can see a snapshot of the current rewards credit cards available on the comparison table below, with links direct to the providers’ website. Please note that this table has been generated based on a $2,000 monthly spend, and is sorted by Star Rating (highest first).

Compare Rewards Credit Cards

Canstar provides an information service. It is not a credit provider, and in giving you information about credit products Canstar is not making any suggestion or recommendation to you about a particular product. See Canstar’s Financial Services and Credit Guide for more information.

Do rewards points expire when I close my account?

With most credit card providers, rewards point expire when you close your account and that credit card is cancelled. With some credit card providers, you have a certain amount of time in which you can still redeem your rewards points after closing a credit card account (e.g. 90 days after cancelling the card).

With other credit card rewards programs such as Qantas Frequent Flyer points or flybuys points, the rewards program is actually a separate account to your credit card, so when you cancel a credit card, your rewards points do not expire. You can still redeem your rewards points and continue to earn more points if you have the loyalty card for that program or if you hold a different credit card that also earns points in that rewards program.

If you are interested in comparing rewards credit cards available on the market, check out the table below which displays a snapshot of 5-Star Mastercard rewards credit cards on Canstar’s database, sorted by provider name (alphabetically). The products and Star Ratings displayed are based on a monthly spend of $1,000.

Compare Rewards Credit Cards

Learn more about Credit Cards

 

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