1. Do these points expire after redeeming the points? (I think BB last for like 5 months)
2. How long do they convert these points to reward value(or whatever they call it)? (90 days I think for BB)
The points won't expire unless you fail to earn any for 12 consecutive months, so you can carry them as long as you keep earning some. It's not like BB where they give you gift certificates that you then spend. You do the redemption right when you go to check out with your merchandise, you can only do one redemption per transaction (and 2 per day max), and if you don't have enough merchandise for the amount you elect to redeem for, you lose that part of your redemption for good and can't save it for later. So if you redeem for the top values, you've actually got to have that much stuff you want to buy all at once.