We haven't decided yet about the redeem during the Catchathon. However, if you are not part of any "live" team in one of the locations (don't forget you can run one yourself too! All info here), your score will not count towards the Catchathon challenge. In that case you can redeem at any time ...
The redeem points never expire though !
Thanks for your question! We will make sure to define "redeem rules" for the catchathon!