Like the Jackolyte, they will continue to exist until you use them all up.
You can turn them in at any time. Base xp received is 250. With Radiant Light from Nightfall, you get 312.
They won't necessarily make getting gear easier, they will level up the faction of your choosing which will net you a package that may contain an armor engram, weapon engram, or ascendant materials (until Tuesday then that won't happen anymore).
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After Tuesday, when the update comes out, what will change?
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Edited by DoctorHotWings: 5/16/2015 7:36:23 PMThe faction packages will roll the new gear. That's why some people are saving their commendations for Tuesday. Remember to do the nightfall first to get max xp for each commendation.
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So the new gear will be better, and I should save my Commendations? My other problem is that it's super hard to get new gear for my Titan, and I'm still unsure if the update will help make getting gear easier.