Never Ever Hoard Loyalty or Rewards Points

I love participating in loyalty and reward programs. They’re almost always free, gets you free “stuff,” and there’s really no downside. The only risk is that you overspend, which I’m not prone to do.

And if you don’t participate, you invisibly subsidizing the folks who do. It’s like not using a rewards credit card, you still pay a premium but you don’t get any rewards.

What gets especially challenging is when you start hoarding points. This happens a lot with travel rewards because you want to wait until there are transfer bonuses you can take advantage of, less so with reward points from coffeeshops or restaurants.

Look at what happened to this poor soul:

After six months of inactivity, nearly 5 entrées worth of points expired in his Chipotle account!

Points never go up in value. You should spend them!

There are two risks with hoarding points:

They expire worthless, or,
They devalue those points.

And what makes it even harder is that programs have different expiration policies. Some expire a set time after the point is earned. Some expire if there’s a period of inactivity (you haven’t shopped there in a while). Some do both.

As for devaluation… it is common for companies to adjust their policies. Sometimes they devalue points and miles outright. Sometimes they change how the redemption process works. Sometimes they change what you can redeem the points for!

It’s hard to keep track of each stores policy so I’ve put together this guide to helping you understand them. Take note of the expiration policy as well as the last time they devalued points.

It’s important to verify anything you see with the company directly because programs change constantly and I won’t be able to keep it 100% up to date.

Table of Contents

☕ Coffee Shops

🍔 Fast Food Restaurants

✈️ Airline Loyalty Programs

🏨 Hotel Loyalty Programs

☕ Coffee Shops

1. Starbucks Rewards

How it works: Earn 2 Stars per $1 spent with a registered card or app.
Expiration: Stars expire 6 months after the month they were earned.
Last devaluation: In February 2023, Starbucks increased the number of Stars required for most redemptions, with some items requiring up to 100% more Stars. Learn moreOne Mile at a Time

2. Dunkin’ Rewards

How it works: Earn 10 points per $1 spent.
Expiration: Points expire 6 months after they are earned.
Last devaluation: In October 2022, Dunkin’ overhauled its rewards program, increasing the points required for free drinks and eliminating free birthday drinks. Learn more.

3. Costa Coffee Club

How it works: Collect 1 Bean per drink purchase; 10 Beans earn a free drink.
Expiration: Beans expire 12 months after the last transaction.
Last devaluation: No recent devaluation reported.

🍔 Fast Food Restaurants

1. McDonald’s Rewards

How it works: Earn 100 points per $1 spent.
Expiration: Points expire 6 months after the month they were earned.
Last devaluation: No significant devaluation since the nationwide launch in July 2021.

2. Burger King Royal Perks

How it works: Earn 10 Crowns per $1 spent.
Expiration: Crowns expire 6 months after they are earned.
Last devaluation: No recent devaluation reported.

3. Wendy’s Rewards

How it works: Earn 10 points per $1 spent.
Expiration: Points expire 12 months after they are earned.
Last devaluation: No recent devaluation reported.

4. Chick-fil-A One

How it works: Earn points with every purchase; the amount varies based on the item.
Expiration: Points do not expire, but rewards do.
Last devaluation: No recent devaluation reported.

5. Panera Bread MyPanera

How it works: Earn rewards based on visit frequency and spending.
Expiration: Rewards typically expire 60 days after issuance.
Last devaluation: No recent devaluation reported.

6. Pizza Hut Hut Rewards

How it works: Earn 2 points per $1 spent.
Expiration: Points expire 6 months after they are earned.
Last devaluation: No recent devaluation reported.

7. Chipotle

How it works: Earn 10 points per $1 spent.
Expiration: Points expire after 180 days of account inactivity.
Last devaluation: Last devaluation was in October 2022, when the free entree went from 1,400 to 1,625 points. Learn more.

8. Church’s Texas Chicken Real Rewards

How it works: Earn 10 points per $1 spent.
Expiration: Points expire 9 months after they are earned.
Last devaluation: Program launched in 2023; no devaluation reported since inception.

✈️ Airline Loyalty Programs

1. Delta SkyMiles

How it works: Earn miles based on the ticket price and Medallion status.
Expiration: Miles do not expire.
Last devaluation: In 2024, Delta discontinued Medallion Qualification Miles (MQMs) and introduced changes to the Medallion Status qualification process. Learn more.

2. American Airlines AAdvantage

How it works: Earn miles based on the ticket price and elite status.
Expiration: Miles expire after 24 months of inactivity.
Last devaluation: In 2022, American Airlines introduced Loyalty Points, changing how elite status is earned. Learn more.

3. United MileagePlus

How it works: Earn miles based on the ticket price and Premier status.
Expiration: Miles do not expire.
Last devaluation: No recent devaluation reported.

4. Southwest Rapid Rewards

How it works: Earn points based on the fare and fare type.
Expiration: Points do not expire.
Last devaluation: In March 2025, Southwest adjusted the number of Rapid Rewards points customers earn per dollar spent on flights. Learn more.

5. JetBlue TrueBlue

How it works: Earn points based on the fare and fare type.
Expiration: Points do not expire.
Last devaluation: No recent devaluation reported.

🏨 Hotel Loyalty Programs

1. Marriott Bonvoy

How it works: Earn points for stays and other activities.
Expiration: Points expire after 24 months of inactivity.
Last devaluation: In 2025, Marriott increased award costs at some top properties, with some hotels now requiring up to 200,000 points per night. Learn more.

2. Hilton Honors

How it works: Earn points for stays and other activities.
Expiration: Points expire after 24 months of inactivity.
Last devaluation: No recent devaluation reported.

3. World of Hyatt

How it works: Earn points for stays and other activities.
Expiration: Points expire after 24 months of inactivity.
Last devaluation: No recent devaluation reported.

4. IHG One Rewards

How it works: Earn points for stays and other activities.
Expiration: Points expire after 12 months of inactivity.
Last devaluation: In 2023, IHG revamped its rewards program.

5. Choice Privileges

How it works: Earn points for stays and other activities.
Expiration: Points expire after 18 months of inactivity.
Last devaluation: No recent devaluation reported.

If there is another company you want added to the list, let me know!

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About Jim Wang

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard’s Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology – Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here’s my treasure chest of tools, everything I use) is Empower Personal Dashboard, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you’re on track to retire when you want. It’s free.

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