Maximising Rewards: How to prevent expiry of credit card reward points

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Reward points are crucial to help you make the maximum use of your credit card spending. Often, cardholders use these reward points for availing discounts on travel, hotel bookings, purchasing apparels, and jewellery, among others.

Credit cards offer a plethora of benefits, from cashback and discounts to travel perks and gift vouchers. However, reward points often come with an expiry date, causing many cardholders to lose out on their rewards. Each credit card issuer has their own policy regarding the expiry of reward points. It is crucial to familiarise yourself with the terms and conditions of your credit card to comprehend the specific rules governing your reward points.

Look for information on the expiry period, whether it is a fixed timeline or if it varies based on card activity. Let’s learn some valuable insights about how to avoid the expiration of credit card reward points, ensuring you make the most of your card benefits.

Regularly Check Your Points

To prevent your reward points from expiring unnoticed, make it a habit to monitor your credit card statements regularly. Keep track of your accumulated points and their respective expiration dates. This simple practice allows you to stay informed about your rewards and take timely action to utilise or redeem them before they expire.

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Utilise Points Strategically

Instead of allowing your reward points to accumulate aimlessly, develop a strategic approach to use them effectively. Prioritise rewards that align with your preferences and financial goals. Consider redeeming points for high-value options like travel bookings, cashback, or gift vouchers for essential purchases. By consciously using your reward points for meaningful benefits, you can maximise their value and reduce the risk of expiration.

Adhil Shetty, CEO, Bankbazaar, says, “Credit card reward points are like hidden treasures. To make good use of this treasure, it’s essential to embrace a proactive and strategic approach. Understand the expiry policy, monitor your points regularly, and utilise them strategically.”

“Set reminders, maintain active card usage, and explore diverse redemption options. Treat your reward points as valuable assets that can enhance your financial well-being. By making conscious choices aligned with your preferences and goals, you can unlock a world of possibilities – from luxurious travel experiences to tangible savings on everyday expenses. Don’t let your reward points go to waste; instead, leverage them wisely to enjoy the true benefits of your credit card loyalty,” Shetty adds.

Set Reminders and Alerts

To avoid the unfortunate situation of losing your hard-earned reward points, leverage technology to your advantage. Set reminders or calendar alerts for upcoming expiration dates. Additionally, many credit card issuers offer SMS or email notifications to keep you informed about your reward points’ status. These reminders serve as timely prompts to take action and ensure your points are utilised before they expire.

Maintain Active Card Usage

Frequent card activity is often tied to reward points’ expiry policies. Some credit card issuers may require a minimum number of transactions or a specific spending threshold within a defined period to keep your reward points active. Be proactive in using your credit card regularly for everyday purchases, but always within your means and budget. This not only helps prevent your points from expiring but also allows you to accumulate additional rewards.

Check Redemption Options

Credit card reward points can be redeemed for various purposes, including merchandise, travel, cashback etc. Take the time to explore the redemption options offered by your credit card issuer. Look for flexible redemption platforms that provide a wide range of choices, allowing you to select rewards that best suit your needs and preferences.

Preventing the expiry of credit card reward points requires awareness, strategic planning, and active engagement. By understanding your credit card issuer’s policies, monitoring your reward points, utilizing them strategically, and setting reminders, you can ensure that your hard-earned rewards are not wasted. Stay proactive in maximising the benefits of your credit card rewards and unlock the true value of your financial loyalty.


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