Did you know? Credit cards don’t last forever! Each card comes with an expiration date, making it essential to know what happens when your card expires. Here’s a quick breakdown.
What is a credit card expiry date?
The expiration date marks the last day your credit card can be used for transactions. After this date, it’s no longer valid. You can find the expiry date printed on the front of your card.
Why do credit cards expire?
- Security Upgrades: Expiration allows issuers to upgrade to better technology for enhanced security.
- Wear and Tear: Over time, the magnetic strip and chip can deteriorate, impacting the card’s functionality.
How to locate the expiry date?
The expiry date is printed on the front of your card, next to the cardholder’s name and 16-digit number. If it’s not visible, you can check your credit card statement.
What to do when your credit card expires?
- Review Statements: Settle any pending charges.
- Update Subscriptions: Notify services linked to your card to avoid disruptions.
- Dispose Safely: Cut up your expired card to prevent misuse.
- Activate Your New Card: Once you receive the replacement, follow the instructions to activate it.
Important Note:
Your credit card account remains active even after the physical card expires. Card issuers typically send a new card automatically. Ensure your contact details are up-to-date to avoid delays.
Stay informed and enjoy uninterrupted benefits!