Credit Card Expiry Date: Key Facts & Renewal Guide

When did you last check the expiration date on your credit card? For most people, the answer is not recently. However, knowing your credit card’s expiration date and the process for renewal is important to keep your finances running smoothly. In this blog, we’ll delve into everything about credit card expiry dates and credit card expiry date renewal.

What is a Credit Card Expiry Date?

Imagine yourself on a dream vacation, ready to pay for a delicious meal at a restaurant, only to find out that your credit card has expired. This can happen when you don’t pay attention to your credit card’s expiry date. The expiry date of a credit card is a small yet critical detail usually located on the front of the card as month/year (MM/YY). It refers to the last month in which any transaction can be made through that particular card. Generally speaking, credit cards expire every three to five years.

The main reason for an expiry date on a credit card is to boost security and ensure cardholders receive updated cards regularly. As time passes, security technology can become obsolete, not to mention the wear and tear that can weaken a card’s security.

Also Read: Credit Card Getting Declined? How To Avoid It?

What Happens When Your Credit Card Expires?

When your credit card expires, it becomes unusable for any transactions. This means that any attempts to use it for purchases, whether online or in person, will be rejected. If you want to continue using the credit card, you can request a renewal. After that, you will get a new card with an updated expiration date.

How to Dispose of Expired Credit Cards?

Getting rid of a credit card is crucial in safeguarding against potential fraud. Make sure to dispose of the one once you have received its replacement. Destroying the card by cutting it into pieces or shredding it ensures that any sensitive information, such as your signature, CVV code, or credit card number, is safely discarded and not exposed.

Remember that scammers are always on the lookout for discarded or lost credit cards, and without proper disposal, you could be vulnerable to identity theft or unauthorised charges. With One Credit Card (a virtual credit card), you never have to worry about physically disposing of your expired credit cards.

How to Renew Your Credit Card?

The process of credit card expiry date renewal is typically simple. Here are the steps to follow:

1. Apply for a New Card

Request the renewal of your card through your issuer’s website or app before the current one expires. The new card will have an updated expiration date while keeping the same account number.

2. Activate Your New Card

Follow the activation instructions provided by your issuer. This may involve calling a phone number, visiting a website, or using a mobile app.

3. Update Your Information

If you have any recurring payments with your old card, you’ll need to update your payment information to match the new card’s expiration date. This ensures that services like subscriptions and automatic bill payments continue without interruption.

Also Read: How to Increase Your Credit Card Limit?

Potential Issues With Credit Card Expiry Date Renewal

While the renewal process is generally smooth, there can be occasional hiccups. Here are some potential issues and how to handle them:

1. Delayed Renewal

If you haven’t received your new card by the expiry date, contact your issuer immediately. They can track your card and expedite the delivery if necessary.

2. Lost or Stolen Cards

If your renewal card is lost or stolen before you receive it, notify your issuer right away. They will cancel the lost or stolen card and issue a replacement.

3. International Use

Traveling abroad? Ensure your issuer has your correct address and travel plans. This helps avoid delays and ensures you receive your new card wherever you are.

Don’t wait until the last minute. Check your credit card expiration dates today and take the necessary steps to renew your credit card expiration date. This simple practice can save you time, effort, and potential headaches.

FAQs about Credit Card Expiry Dates

1. Will my credit card number change when it is renewed?

In most cases, your credit card number remains the same when your card is renewed, but the expiry date and CVV(Card Verification Value) will change. However, some banks may issue a new card with a different number.

2. Can You Use an Expired Card?

No, once the card is expired, it becomes invalid. Therefore, any attempt to use it will be declined.

3. Does an Expired Card Affect Your Credit Score?

The expiry of your card itself does not impact your credit score. However, if your card is not renewed and your account is closed, it could affect your credit utilisation ratio and length of credit history, potentially impacting your score.