No. of Recommendations: 2
Pretty much buyer beware. And rules vary from program to program and will also change during a program's life.

Some never expire. Some require some form of activity to keep them alive. Some expire after a period of time (e.g., points earned will expire 24 months after earning them). Etc.

And even going to a web site, it can be hard to decipher when they expire.

I've probably lost a sizable amount of points with American West and others in the past. I try to be better now but with 1,000,000+ points across credit card companies, airlines and hotels, it is tough to keep track of things. And time does fly.

Hertz had a "massive devaluation" according to:

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