What every miles chaser should know

For many Singaporeans, miles cards are a savvy way to earn travel rewards from everyday spending. But there’s a common oversight even seasoned cardholders make: assuming their points are safe until they convert them into miles.

In reality, most banks in Singapore operate on a two-step system—cardholders first accumulate “bank points” or “reward points,” which are then converted into frequent flyer miles. The catch? It’s these points—not the miles themselves—that often come with complex expiry timelines. Miss those windows, and you could lose thousands of hard-earned points.

Unlike airline miles, which may have fixed expiry dates after conversion, bank reward points vary widely in their policies. Some expire five years after they are earned. Others use a less intuitive system: expiration occurs five years from the beginning of the quarter or year in which the points were earned. That subtle difference can shave months off your redemption period.

Even within the same bank, different cards may follow different rules. For instance, DBS Altitude card points expire after three years, while DBS Woman’s World Card points can be converted anytime within five years—subject to different cutoff logic.

So what’s the actual risk? If you don’t track both when you earned the points and what expiry schedule your card follows, you could find your rewards balance wiped out with little warning.

Here’s how some major banks in Singapore handle points expiry:

• DBS/POSB: Some cards have points valid for 3 years (e.g. Altitude), while others are 5-year validity—but pegged to when in the year the points were accrued.
• UOB: Most reward points are valid for 2 years, with expiry calculated on a quarterly basis.
• Citibank: Points on certain cards like Citi PremierMiles never expire after conversion—but the initial reward points often do, typically after 5 years.
• OCBC: OCBC 90°N cards offer points with no expiry, but other cards still operate on a 2-year expiry cycle.
• HSBC: Reward points generally expire after 3 years; conversions must be completed before then.

Each of these rules applies at the bank level but can differ across card products. Always check the terms of your specific card—not just the general FAQ.

Since some expiry systems calculate based on calendar quarters or even fixed annual cycles, cardholders who spend heavily in the last month of a period may see their points expire sooner than expected. For instance, points earned in March under a quarterly system may expire just before those earned in April—even though the calendar gap is only weeks apart.

The safest approach? Schedule a quarterly review of your rewards account. Set calendar reminders for 6–12 months before potential expiry dates, especially if your points bank has no rollover.

In markets like the US and UK, many reward points either don’t expire or reset their clock with each new transaction. Singapore’s model—while still generous in earn rates—tends to be more rigid. Some regional banks are shifting toward no-expiry models to compete, but many still follow legacy structures that can catch consumers off guard.

Points expiry may feel like a minor detail—but if you’re optimizing for travel rewards, it’s the difference between a free flight and forfeited value. Understanding the hidden expiry logic isn’t just good housekeeping—it’s a necessary part of playing the miles game well.

As Singapore’s financial ecosystem becomes more competitive, banks may eventually simplify or eliminate expiry policies. Until then, diligence is your best defense.