Credit Card Reward Points Expiry: Check Before They Lapse

Your credit card reward points have an expiry date, and at most big banks it’s two to three years from the month you earned them. After Diwali shopping you’re probably sitting on more points than usual, so this is the week to check the balance, the expiry and what each point is worth in rupees.

It takes about ten minutes per card. There’s also a fee of ₹99 plus GST on most redemptions that can eat almost half of a small balance, and I’ve done that maths in section 4.

⚡ Key takeaways

Validity differs by bank and card: 2 years on most HDFC Bank cards, 24 months at SBI Card, 3 years on ICICI Bank Reward Points, per each bank’s own terms.
Points can lapse early: HDFC nullifies points if the card isn’t used for more than 365 days, and closing a card usually leaves you 30 days.
Redemption isn’t free: HDFC, SBI Card, ICICI and IDFC FIRST all list ₹99 plus GST per redemption on most cards. With 18% GST that’s ₹116.82.
Route matters: on HDFC’s Regalia Gold, one point is worth ₹0.50 on flights but only up to ₹0.20 against your bill.
This is housekeeping for points you already have. It isn’t advice on which card to get.

Table of Contents

Why Credit Card Reward Points Need a Look This Week

Festive sales mean phones, gold, appliances and gifts all going on the card in the same few weeks. If your card earns points, your balance has probably jumped.

Credit card reward points feel like money, but they behave more like a coupon with small print. They expire, and they can be cancelled if you miss payments. The bank also decides what one point buys, which changes with how you redeem it.

None of this is hidden. It sits in each bank’s Most Important Terms and Conditions (MITC), the PDF you scrolled past when the card arrived. I read the current ones for this piece: HDFC Bank’s MITC is version 4.18, dated October 2026, and Axis Bank’s is the copy live on its site on 11 November 2026.

If you chased a bank offer during the sale, the points and the instant discount are separate things, and our Flipkart SBI offer cap breakdown explains the discount side.

man in a blue shirt holding up a credit card — Points sit quietly on the card account until they expire. · Photo: Aukid phumsirichat / Pexels

How to Check Your Points Balance and Expiry Date

There are three places to look: the bank’s app or net banking, the rewards portal, and your monthly statement. The statement is the lazy option and it works.

HDFC Bank

HDFC’s card pages give this NetBanking path: log in, go to Cards, click Request, select your credit card number, then Rewards. You can also log in to SmartBuy, the bank’s rewards portal, to see and redeem points.

SBI Card

SBI Card’s rewards FAQ says you can see the points expiring in the current month by logging in to the SBI Card website or mobile app. The same number is printed on your monthly statement.

ICICI Bank

ICICI’s rewards FAQ lists two routes:

Net banking: Exclusive Offerings > Reward points > View Rewards
iMobile app: Smart keys and services > Account services > Reward points

Menu names can shift between app versions, so search “reward” inside the app if you don’t see it.

Any other bank

Open the latest statement PDF and look for the rewards summary box. It normally shows opening balance, points earned, points redeemed and, on many cards, points expiring soon.

💡 Pro tip

While you’re in the app, note two numbers for each card: total points, and points expiring in the next three months. The second number is the one that decides how urgent this is.

Also readCheck Credit Score Free: 4 Reports RBI Says You’re Owed Yearly

Reward Points Validity and Fees: Bank by Bank

Validity is set per card, not per bank, so treat the table as a starting point and confirm against your own card’s terms. Every figure below comes from the bank’s own page or PDF, opened on 11 November 2026.

Issuer	Card example	Point validity	Redemption fee	Source
HDFC Bank	Most cards (Regalia Gold, Millennia, MoneyBack+)	2 years from the date of accumulation	₹99 + GST per catalogue request; ₹50 + GST per cashback request	HDFC MITC
HDFC Bank	Infinia, Diners Black, BizBlack Metal	3 years	No processing fee	Same MITC
HDFC Bank	Easy EMI cards	1 year	₹99 + GST	Same MITC
SBI Card	Cards on the SBI Card rewards program (e.g. SimplyCLICK Advantage)	24 months; lapses on the last day of the 24th month	₹99 + taxes per batch processed in a day	SBI Card rewards FAQ
ICICI Bank	Cards earning ICICI Bank Reward Points	3 years (36 months) from the date of issuance	₹99 + GST per redemption request	ICICI rewards FAQ, terms
IDFC FIRST Bank	FIRST WOW Credit Card	24 months from credit, from the July 2026 statement cycle	₹99 + GST per redemption transaction	IDFC notice, rewards page

A few notes on reading it.

HDFC’s example makes the two-year rule concrete: points received in May 2015 expire in May 2017. So points don’t all die together. The oldest ones drop off month by month.

The IDFC FIRST row is the one to notice if you hold that card. The bank’s notice to FIRST WOW cardholders says the 24-month validity took effect on 18 June 2026, and that the balance as of the July 2026 statement cycle stays redeemable until July 2028. I’ve only confirmed this for that one card, so check the notice for your own variant.

Axis Bank isn’t in the table on purpose. Its current MITC doesn’t state a validity period or a redemption fee for EDGE Reward Points, and I couldn’t open a current Axis rewards terms page that does. So I’ve left it out instead of repeating a third-party figure, though Axis does appear in the next section because its MITC is clear on forfeiture.

Co-branded cards follow the partner’s rules. HDFC’s MITC points Tata Neu, Swiggy and Marriott Bonvoy cardholders to the partner’s own terms, and it notes that Swiggy Money expires one year after you earn it.

leather wallet with credit cards laid out beside it — Each card in your wallet runs on its own expiry clock. · Photo: Nataliya Vaitkevich / Pexels

Four Ways Points Lapse Before the Expiry Date

Expiry is the slow leak. The four below are faster, and each one is written into the banks’ terms.

1. You stop using the card

HDFC’s MITC says that if the credit card isn’t used for more than 365 days, the accrued Reward Points or CashPoints are nullified. That’s the classic drawer card: you got it for one sale, earned points and forgot it.

2. You close the card

HDFC Bank: points stay redeemable for 30 days after closure, only towards products and vouchers through a manual form. Cashback redemption isn’t allowed on a closed card.
SBI Card: if you close the card yourself, you get 30 days to redeem. If the account is cancelled for any other reason, the points are forfeited.
Axis Bank: from 1 October 2025, the bank can forfeit unredeemed EDGE Reward Points or Miles 30 days after card closure.
ICICI Bank: the rewards terms say points are cancelled immediately and automatically when the card is withdrawn or cancelled, and aren’t restored even if you rejoin.

So redeem first, close later. If you’re tidying up cards and subscriptions together, our guide to cancelling UPI AutoPay mandates covers the other half of that clean-up.

3. You miss payments

HDFC reserves the right to cancel or suspend points if the card is in arrears or default. Axis can forfeit points if the minimum amount due stays unpaid for more than 90 days. ICICI’s terms cancel points on a delinquent account, and SBI Card’s terms say the card must not be overdue at the time of a redemption request.

A missed payment also dents your credit history. Here’s how to check your credit score for free if you want to see where you stand.

4. You convert a purchase to EMI (Axis)

This one catches festive shoppers. Axis Bank’s MITC says points earned on a transaction are debited when that transaction is converted to EMI, and they aren’t credited back if the EMI is later cancelled. If you converted a Diwali purchase, your balance may be lower than you expect.

⚠️ Watch out

Nobody from your bank needs your OTP, PIN or password to “redeem expiring points”. Axis Bank’s MITC tells cardholders to ignore calls and emails that ask for a password in the name of redeeming reward points. Redeem only inside the bank’s app or official portal. More patterns like this are in our festive sale scams guide.

What a Point Is Worth, and the ₹99 Fee Catch

With credit card reward points, a point has no fixed rupee value. ICICI’s terms say so in plain words: points have no cash or monetary value and can’t be exchanged for cash. What you get depends on the redemption route.

HDFC publishes the rates for its Regalia Gold card, so I’ve used that as the worked example. The rates are the bank’s. The 10,000-point column is my own arithmetic (points × rate), before fees.

Redemption route (HDFC Regalia Gold)	Bank’s stated value per point	10,000 points become
Exclusive Gold Catalogue	₹0.65	₹6,500
Flights and hotels on SmartBuy	₹0.50	₹5,000
Products and vouchers	up to ₹0.35	up to ₹3,500
Statement balance (cashback)	up to ₹0.20	up to ₹2,000
Airmiles	up to 0.5 airmile	up to 5,000 airmiles

Source: HDFC Regalia Gold page. One caveat: another section of the same page shows the statement rate as up to ₹0.15, which would make it ₹1,500. Go by the figure on your redemption screen.

Look at the gap. The same 10,000 points are worth ₹5,000 on a flight booking and at most ₹2,000 against your bill, so the easiest route is also the worst rate on this card.

I can’t put a rupee value on airmiles, because that depends on the airline programme and the ticket you book with them.

IDFC FIRST keeps it simpler. Its rewards page says the standard value of one point is ₹0.25, so 10,000 points are worth ₹2,500.

The fee maths (my arithmetic)

Most banks in the table charge ₹99 plus GST per redemption. HDFC’s MITC uses 18% GST in its own illustrations, so ₹99 × 1.18 = ₹116.82. HDFC’s cashback route is cheaper: ₹50 × 1.18 = ₹59.

Now apply that to a small balance at ₹0.25 a point:

1,000 points = ₹250. Minus ₹116.82, you keep ₹133.18. The fee took about 47%.
4,000 points = ₹1,000. You keep ₹883.18. The fee took about 12%.
About 468 points = ₹117. The fee wipes it out.

So tiny redemptions are a bad deal, and splitting one balance into three small redemptions is worse. Club them.

HDFC charges once per request even if it holds several items, and SBI Card charges once per day’s batch. SBI’s FAQ adds a warning: two requests placed just before and just after the batch cut-off are charged twice.

Monthly caps and minimums

HDFC Bank: cashback redemption is capped at 50,000 points per calendar month on most cards, and 3,000 points on Millennia, Easy EMI Millennia, Bharat, Pharmeasy and Paytm cards. Flight and hotel redemptions are capped at 50,000 points a month on most cards.
HDFC Bank, 70% rule: on flights and hotels, and on select products and vouchers, points can cover up to 70% of the value. You pay the rest by card.
HDFC Bank minimum: cashback needs a minimum amount, ₹500 for cards such as Regalia Gold, Millennia and MoneyBack+. At ₹0.20 a point that’s 2,500 points (my arithmetic).
SBI Card: from 1 April 2026, statement credit is capped at 60,000 points per card per calendar month, and paying your outstanding with points works only in multiples of 4,000 points. A few cards are excluded, including Air India SBI Signature.

A balance above the cap needs more than one month to drain through the statement route. Don’t leave it to the month of expiry.

Also readCancel UPI AutoPay in 2 Minutes: Find Mandates You Forgot

Your 10-Minute Credit Card Points Checklist

Do this once for every card that earns credit card reward points. Keep the latest statement open.

Find the balance and the expiring figure. App, net banking or the statement’s rewards box.
Find your card’s validity. Use the table above, then confirm in your card’s terms. Co-branded card? Check the partner’s app.
Check the last time you used the card. If it’s an HDFC card nearing a year unused, one small purchase resets the 365-day clock.
Open the redemption page and compare routes. Divide the rupee value shown by the points asked. That’s your real per-point rate.
Subtract the fee. ₹116.82 for most redemptions with GST. If the fee is over 10% of what you’re getting, wait and club it with more points, unless they’re about to expire.
Check caps and minimums so a big balance doesn’t get stuck.
Pay this month’s bill on time. Overdue accounts can’t redeem at SBI Card and can lose points at the other banks covered here.
Planning to close the card? Redeem everything first.
Set a phone reminder for a month before the next batch expires.

If part of your Diwali shopping is going back, sort the refund first with our Amazon and Flipkart return policy guide, then look at your points once the statement settles.

✅ Our verdict

Redeem points that expire within three months, even at a weaker rate, because a lapsed point is worth zero. For the rest, wait until the balance is big enough that ₹116.82 is a small slice, then pick the route with the best rupee value you’ll actually use. Skip catalogue gadgets you wouldn’t have bought anyway.

Frequently Asked Questions

Do credit card reward points expire in India?

At most banks, yes. HDFC Bank’s MITC gives 2 years on most cards, SBI Card’s FAQ says 24 months and ICICI Bank’s FAQ says 3 years from issuance. Validity varies by card, so check your own card’s terms.

How do I check when my points expire?

Look at the rewards summary on your monthly statement, or log in to the bank’s app or net banking. SBI Card shows points expiring in the current month in its app and on the statement.

Is there a fee to redeem reward points?

Usually. HDFC Bank, SBI Card, ICICI Bank and IDFC FIRST Bank all list ₹99 plus GST per redemption on most cards. HDFC charges ₹50 plus GST for cashback redemption and waives the fee on a few premium cards such as Infinia.

What happens to my points if I close the card?

HDFC Bank and SBI Card give 30 days after a voluntary closure. Axis Bank can forfeit points 30 days after closure, and ICICI’s terms cancel them when the card is cancelled. Redeem before you close.

Can I convert reward points to cash?

Not as cash in hand. Many cards let you redeem points against the statement balance, which reduces your next bill, but the per-point rate is often lower than for travel or vouchers.

The Bottom Line

Credit card reward points are a perk with a deadline. Open each card’s app tonight, note the balance and the expiring number, and work out what one point is worth on the route you’d really use. Then redeem what’s about to lapse in one go, so you pay the fee once.

Keep reading

Sources

Credit Card Reward Points Expire: Check Yours in 10 Minutes