Donna LeValley
If you’ve been racking up points on your favorite rewards card, now may be the time to use them.
Lenders can assign expiration dates on the rewards you earn. While some card issuers allow you to use the rewards you earned as long as your account is in good standing, airline and hotel credit cards work differently.
Some issuers offer expirations dates between one to three years, meaning you'll need to stay on top of when you earn the rewards and when they expire.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
How to keep points and miles from expiring
If your miles or points are expiring sooner than you’d like, see whether you can reset the clock by transferring an amount to another loyalty program. For example, the Capital One Venture card allows cardholders to transfer miles to more than a dozen participating hotel and airline loyalty programs, including those of Air France, JetBlue and Wyndham Hotels & Resorts.
You can also:
- Use your co-branded credit card. Even if the card isn’t your go-to credit card, use it for a small purchase once a month
- Donate miles. This option will enable you to push out the expiration date for your points and miles to donate them to charity. Most loyalty programs partner with nonprofits and allow customers to donate points and miles to help various causes
- Shop through your loyalty programs’ online shopping portal. If you’re saving up points for a big trip but are at risk of losing them, use some for an item that has a low point value like a magazine subscription. Or use the shopping portal to purchase something you need, and earn some extra points for doing so
- Earn elite status with a hotel. Reward programs, like the one offered by IHG hotels, waives expiration dates as long as you maintain elite status. You'll need to stay at least 10 nights annually at one of their branded hotels to maintain silver elite status.
- Track your reward expirations: When budgeting, add a section for credit card rewards earned, what you plan to spend them on and when you need to use them. That way you have plans in place months in advance and the expiration date doesn't catch you off guard.
Can you reinstate expired points or miles?
In some cases you may be able to call the credit card or airline or hotel loyalty program’s customer service number and ask for your rewards to be reinstated. It never hurts to ask, especially if they recently expired. Two programs flexible with expired rewards include:
American Express might allow you to get back expired points. You'll have to pay a $35 reinstatement fee and are only entitled to the points lost during the last 12 months.
Meanwhile, American AAdvantage customers need to make a purchase to reactivate miles. Some restrictions apply such as you'll only gain back the miles you earned within the last two years, up to a 500,000-mile cap.
Be polite when making your request — a little friendliness goes a long way.
Related Content
- Make the Most of Credit Card Rewards: Here's How
- Best Rewards Credit Cards
- Credit Card Closed? Here's Why and What to Do Next
- 6 Ways to Boost Your Credit Score — Fast
-
The Original Property Tax Hack: Avoiding The ‘Window Tax’Property Taxes Here’s how homeowners can challenge their home assessment and potentially reduce their property taxes — with a little lesson from history.
-
Is Mint Mobile's Home Internet a Game-Changer or Just Another Option?Mint Mobile recently unveiled its new home internet service. We break down how it works so you can determine if it's a great value for your needs.
-
Is Mint Mobile's Home Internet a Game-Changer or Just Another Option?
Mint Mobile recently unveiled its new home internet service. We break down how it works so you can determine if it's a great value for your needs.
-
How to Add Your Driver’s License or State ID to Google WalletStore and use your digital ID securely on your Android device for TSA, age verification and more.
-
Where You Choose to Stash $100k Now Comes with a Big Opportunity CostThe Fed recently cut rates. Here's where to maximize your savings while rates remain higher.
-
The Social Security Earnings Test: Know This Rule Before Working in RetirementWhen you work and collect Social Security benefits before your FRA, you are subject to the Retirement Earning Test that could result in a temporary reduction of your benefits.
-
I'm a Government Employee and Need to Get By Until the Shutdown Ends. What Can I Do?The second-longest shutdown in history is leaving many federal workers with bills due and no paycheck to cover them. Here's what you can do to get by.
-
CMS Brings Back Furloughed Staff for Medicare Open Enrollment LifelineThe government has recalled approximately 3,000 workers to assist with Medicare and ACA Marketplace Open Enrollment.
-
This Is Why Judge Judy Says Details Are Important in Contracts: This Contract Had HolesA couple's disastrous experience with reclaimed wood flooring led to safety hazards and a lesson in the critical importance of detailed contracts.
-
How Prepaid Verizon Phone Service Works and When It's a Smart ChoiceExplore the differences between Verizon Prepaid and Verizon Postpaid plans — costs, perks, flexibility and when going prepaid makes sense.
