Credit card expiration: What happens when your card expires?

If you rely on a credit card to make most of your financial transactions or you are planning to switch to a credit card for the rewards and cashback it offers, it is important to know that once issued, a credit card cannot be used forever. Every credit card has an expiry date.

What is credit card expiry?

A credit card expiry is a date beyond which you cannot use your card to make financial transactions. Every credit card issuer has an expiry date for the card, which is often mentioned on the card, making it easier to keep track of.

Why do credit cards expire?

Security: Credit card issuers mostly upgrade technology over time to provide better security and protection to cardholders. Hence, a credit card expires to renew with new technological changes.

Wear and tear: With consistent use, the magnetic chip of the credit card wears out, which makes it difficult to process transactions. Hence, credit card issuers give an expiry date to ensure the proper functioning of credit cards.

How to find the expiry date?

The expiry date of the credit card is mentioned on the front of the credit card, along with details such as the 16-digit credit card number, name of the cardholder and issuing date. If you cannot find the expiry date on the card, you can find it on the credit card statement.

What to do with an expired credit card?

Go through credit card statements: Check the credit card statements to clear all the pending charges.

Renew subscriptions: Update the subscriptions linked to your expired credit card to avoid interruption in services.

Dispose off safely: To avoid misuse, it is advised to destroy the credit card after its expiry date.

Get the new card: Once you receive your new credit card, activate it as per instructions.

However, it is to be noted that your credit card account is still active even after your card expires. Credit card issuers usually keep track of the expiry date of credit cards and send the renewed card accordingly. It is important to update your latest contact details with your card issuer to avoid delay in renewing the card. It is also important to keep a check on the expiry date of the credit card in case the issuer does not provide the card on time.