Qantas Frequent Flyer status typically lasts for the remainder of your current Membership Year plus an additional 12 months (the "grace period"). Your Membership Year is determined by the date you joined the program, not the calendar year. Once you earn the required Status Credits to reach a new tier (Silver, Gold, Platinum, or Platinum One), you are upgraded immediately and enjoy those benefits for the rest of your current cycle and the entirety of the following year. As of late 2026, Qantas has introduced a major update: Status Credit Rollovers. Elite members (Gold and above) can now roll over a portion of their "excess" status credits—up to 500 for Platinum members—into the next year, making it significantly easier to retain status for a third year. If you fail to earn enough credits to retain your rank, your status will drop by only one tier per year (e.g., Platinum to Gold), rather than resetting completely to Bronze.