Yes, Banana Republic credit card rewards or expire. You will lose all the rewards after 24 months if you do not redeem them. If you need a credit card with rewards and do not want them to expire, consider applying to the general rewards credit card. If you want a credit card with rewards that do not expire consider applying to the Discover it® Cash Back. Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum each time you activate. All other purchases will earn unlimited 1% cash back. There is no sign-up bonus but all rewards you earn the first year will be matched at the end of your first year (provided you are a new cardmember).