B&N Premium Membership is a one-year term. Each annual $39.99 payment will provide another year of Membership.
If you are not opted in to Automatic Renewal as a Premium Member and your Membership term ends, your Premium Membership is automatically converted to free B&N Rewards. Any stamps and rewards earned as a Premium Member remain on the account, and any stamps and rewards earned while a B&N Rewards Member will carry over if you upgrade back to Premium Membership in the future.
Stamps earned on a B&N Rewards account do not expire, unless the account becomes inactive or is canceled or terminated. To keep your account active use it in a transaction, or log into your bn.com account, at least once every 12 months. Rewards, once converted from stamps, do not expire unless the account is canceled or terminated.