Loyalty program rewards: Understanding expiration policies across airlines and hotels

Southwest Airlines provides flight credits for canceled nonrefundable flights that never expire. United Airlines' future flight credits must be used within a year of issuance, while travel certificates require booking before expiration but allow travel beyond it.

Hotel loyalty programs also have varied expiration policies. Choice Privileges points expire after 18 months of inactivity. Hilton free night certificates typically expire within a year of issuance, while Hilton points last for 24 months without activity. Hyatt's free nights have different validity periods depending on how they are earned; World of Hyatt points require activity every 24 months to remain active.

IHG Hotels & Resorts offers free night certificates valid for up to 40,000 points with a 12-month validity post-issuance; IHG One Rewards points never expire for elite members. Marriott Bonvoy awards vary in value and are valid for one year after issuance; Marriott Bonvoy points need activity every 24 months to avoid expiration.

Wyndham Rewards does not offer free night certificates; its points expire after 18 months of inactivity or four years post-checkout date even if active.

Some travel credit cards provide additional perks like airline fee credits and hotel credits with specific expiry terms. The Chase Sapphire Preferred® Card offers $50 annual statement credits toward prepaid hotels booked through its portal which reset each anniversary. The Platinum Card® from American Express includes up to $200 annually in hotel statement credits and airline incidental fees expiring December 31 each year unless used.

Expiration policies can be complex as some require only booking by the deadline while others demand completion before expiry. As such, travelers should review their rewards stash before year's end to maximize benefits.