Credit Card Reward Points Expiry: Bank-by-Bank Guide India
Updated 20 March 2026
Bottom Line: Most Indian bank credit card reward points expire in 2–3 years, but the exact rules vary wildly — HDFC gives you 2 years, SBI gives you 2–3 years depending on the card, and Amex MR points never expire as long as your account is open. Check your bank’s policy below before your points silently vanish.
Why This Matters More Than You Think
Here’s the thing nobody tells you at the card activation call: your reward points have an expiry date. And banks aren’t exactly sending you countdown reminders. Every year, lakhs of Indian cardholders lose points worth crores simply because they didn’t know the clock was ticking.
With SBI Card overhauling its redemption rules from April 1, 2026 and HDFC Bank tightening Infinia redemptions since February 2026, the landscape is shifting fast. This guide covers every major Indian issuer so you know exactly where you stand.
Bank-by-Bank Reward Points Expiry
| Bank / Issuer | Points Expiry Period | Key Condition | Recent Changes (2026) |
|---|---|---|---|
| HDFC Bank | 2 years from earning | Points expire on a rolling basis | Infinia now capped at 5 redemptions/month, Rs 2,00,000 cycle limit (Feb 2026) |
| SBI Card | 2 years (base cards), 3 years (premium) | Must have active card | Statement credit redemption capped at 60,000 points/month from Apr 2026 |
| ICICI Bank | 2 years from earning | Forfeited if card is closed | Rent payment reward accrual discontinued on select cards from Apr 2026 |
| Axis Bank | 2–3 years (varies by card) | Magnus/Reserve: 3 years; others: 2 years | No major changes yet |
| Amex (American Express) | No expiry | Points valid as long as account is active | Stable — still the best expiry policy in India |
| Kotak Mahindra | 2 years from earning | Rolling expiry, FIFO basis | — |
| IndusInd Bank | 2–3 years (card-dependent) | Pioneer/Legend: 3 years | — |
| HSBC India | 2 years | Points lapse at end of the quarter after 2-year mark | — |
| RBL Bank | 2 years | Rolling quarterly expiry | — |
| Yes Bank | 2 years | Points expire even on premium cards | — |
The 2026 Changes You Need to Know
SBI Card: April 1, 2026 Overhaul
SBI Card is making two significant changes:
- Redemption cap: You can now redeem a maximum of 60,000 reward points per card per calendar month for statement credits. If you’ve been hoarding points for a big redemption, you’ll need to plan across multiple months.
- Rent payments excluded: Several SBI cards — both premium and base — will stop earning reward points on rent payments entirely. If you’ve been paying rent via CRED or a payment app to earn points, that arbitrage is closing.
HDFC Bank: Infinia Tightened (February 2026)
The Infinia, India’s most aspirational credit card, now has:
- 5 redemptions per month (was unlimited)
- Rs 2,00,000 per billing cycle cap on redemptions
- Specific caps on travel bookings, Apple purchases, and Tanishq spends
The earn rate hasn’t changed, but your ability to burn points freely has been curtailed. If you hold an Infinia, plan your redemptions strategically instead of doing bulk conversions.
How to Check Your Points Balance and Expiry
Most banks don’t make this easy, but here’s where to look:
- HDFC: SmartBuy portal or NetBanking → Cards → Reward Points → “Points Expiry Schedule”
- SBI Card: SBI Card app → Rewards → “Points Summary” (shows expiry month)
- ICICI: iMobile app → Cards → Reward Points → “Expiring Soon” tab
- Axis: Axis Mobile app → Cards section → “Reward Points” → “Validity”
- Amex: Amex India app → Membership Rewards → no expiry shown (because there isn’t one)
Pro Tip: Set a Calendar Reminder
Don’t rely on bank notifications. Every quarter, check your points balance and note when the oldest tranche expires. A 15-minute check can save you thousands of rupees.
Best Strategy to Avoid Losing Points
- Redeem regularly. Don’t hoard. The “save for something big” strategy backfires when rules change overnight.
- Convert to airline miles early. If your card allows transfers to InterMiles, Air India Maharaja Club, or Singapore Airlines KrisFlyer, convert before expiry. Miles often have their own (longer) validity.
- Use statement credits as a safety net. If points are about to expire and you don’t have a redemption plan, take the statement credit. It’s not the best value, but it beats zero.
- Avoid cards with short expiry if you’re a low spender. If you spend under Rs 50,000/month, your points accumulate slowly. A 2-year expiry means you might never build enough for a meaningful redemption. Consider Amex or cashback cards instead.
Related Guides on CardTrail
- Best Travel Credit Cards in India — cards where your points go furthest on flights and hotels
- Credit Card Comparison Tool — side-by-side comparison of earn rates, fees, and perks
- New RBI Rules Affecting Credit Cards — regulatory changes every cardholder should know
Frequently Asked Questions
Do reward points expire if I don’t use my credit card?
Yes — and in some cases, faster. Most banks start the expiry clock from the date you earned the points, not from your last transaction. An inactive card doesn’t pause the timer. Some banks may also close inactive accounts, which forfeits all points immediately.
Which Indian bank has the best reward points expiry policy?
American Express, hands down. Amex Membership Rewards points never expire as long as your account remains open. Among domestic banks, Axis Bank’s Magnus and Reserve cards offer 3-year validity, which is the longest among major Indian issuers.
Can I transfer expiring reward points to someone else?
Generally, no. Indian banks don’t allow point transfers between cardholders. However, most banks let you redeem points for gift vouchers (Amazon, Flipkart, Tanishq) which you can then give to anyone. Some banks allow pooling points across cards held by the same person.
Will my SBI Card reward points be affected by the April 2026 changes?
Your existing points won’t expire any faster — the validity period remains the same. What changes is the redemption cap: you can only convert 60,000 points to statement credit per month per card. If you have a large balance, start redeeming now to avoid being stuck in a monthly queue.
What happens to my reward points if I close my credit card?
You lose them. Every Indian bank forfeits unredeemed reward points upon card closure. If you’re planning to close a card, redeem every last point first — even if it’s just a Rs 500 Amazon voucher. Don’t leave anything on the table.
Are reward points taxable in India?
The Income Tax Department hasn’t explicitly taxed credit card reward points so far. However, if you redeem points for cashback or statement credits above Rs 50,000 in a financial year, some tax advisors recommend declaring it as “income from other sources” to be safe. There’s no clear RBI or CBDT circular on this yet — it’s a grey area.
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