Actually, having a one-year validitiy makes these 5K vouchers very useful. I generally keep mine -- which I get with my mid-year renewal -- until January of the following year, then deposit the cert so I have a 5K head start on my 60K Plat requirement. If I have more than enough PC points earned during the "current year" why burn the cert this year? Best to be safe in case there's a downturn in next year's travel and it looks as if I might not hit 60K.