Does status expire?
Yes, your status expires on 12/31 following the year you earned it. For instance, if you achieve VIP status in 2024, it will expire on 12/31/2025. Your 2026 status is determined by your annual spend in 2025.
To retain your status and continue enjoying the perks, make sure to meet the total spend per year ($200 for VIP, $600 for Elite) to extend the benefits through the next calendar year.