Yes, your Loyalty Points expire at the end of each month and the counter is reset to zero. However, this does not mean that you lose your club privileges at the end of each month. Each club has an associated validity period during which your club status cannot be downgraded.
For example, Gold Club has a validity of 1 calendar month (in addition to the upgrade month). Let's say you upgrade to the Gold Club on 15th December 2019. You can be assured that your club status cannot be downgraded below the Gold Club until 31st January 2020.
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