Unused credits expire at the end of each month, in accordance with your billing cycle, on both the Hobby & Student and Professional plans. The exception is for Max plan subscribers. As long as you have an active subscription on the Max plan, your unused credits do not expire and will instead roll over for up to 12 months from date of issue.
There is actually one other exception, and that’s purchased credits on any plan*.* If you run out of credits before your monthly refresh, you do have the option of purchasing more. Purchased credits do not expire, and will remain on your account indefinitely in case you exhaust your monthly allotment again in the future.