Why do credit cards need to be replaced when they expire?
First, credit cards have an expiration date. After the expiration date, the card becomes invalid and cannot be used normally, so the card issuer will renew the card if the card is eligible. Cardholders who request it will be issued a new card upon expiration.
Second, if the cardholder does not need to use the card when it expires, he can proactively contact the card issuer one month before expiration to request not to renew the card. Or after receiving the new card, call the card bank’s customer service number to cancel the card.
Can the old credit card still be used if I replace it with a new one?
If the credit card has not expired, you can continue to use it. But that's only until the new card is activated. When a cardholder gets a new card, they usually have to cut off the old card and destroy it.
Because the old card has no functions and contains the cardholder’s personal privacy, destroying the old card can ensure the security of the customer’s personal information.
It is recommended that cardholders receive a new card, complete the card opening process as soon as possible, and then cut off the old card and destroy it to ensure that the information will not be leaked.
In most cases, citizens who have full capacity for civil conduct (citizens over 18 years old in mainland China) and have certain direct financial resources can apply for a credit card from the card issuing bank. Sometimes, legal persons can also serve as applicants
Those who apply for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed.
Individuals applying for credit cards must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.
The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form.
The application form is accompanied by a credit card use contract. The applicant authorizes the card issuer or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card issuer's privacy protection policy, etc., and must have an application. A person's autograph.
After receiving the application form and relevant materials from the applicant, the card-issuing bank must review the applicant's creditworthiness. The content of the review mainly includes whether the content of the application form is true. The creditworthiness of the applying unit must be evaluated, and the relevant circumstances of the guarantor must also be reviewed for individuals.
Usually, banks will judge whether to issue a credit card to the applicant based on the application information and various aspects of the applicant's information and financial situation. Factors considered include the applicant's past credit record, the applicant's known assets, professional characteristics, etc.
The specific factors and processes reviewed by the card issuing bank are commercial secrets and are generally difficult for outsiders to understand. The standards of each card-issuing bank are also different. Therefore, the same materials may be issued with different credit limits and different types of credit cards in different banks. Some banks may even approve the application, while others may reject it. .
Why do you need to change your bank card to a new one after it expires
Expiring bank card means that the bank card has reached the specified validity period.
1. Bank card expiration means that the bank card has reached the specified validity period. If it is a debit card, there is no expiry date. As long as it's not frozen or turned into a sleep card, it can be used indefinitely. The validity period of credit cards is generally 3-5 years. You can see the validity of your credit card. The date format is "month/year". If it is a debit card, that is to say, it requires depositing money before it can be used. Generally speaking, there is no concept of bank card expiration, unless your bank card banking system has undergone major changes, but in this case, you will be notified to change the bank card. The bank can be changed, but the bank account number remains the same.
2. Ordinary bank cards will not expire as long as there is a balance. If the balance does not exceed the period specified by the bank, the bank will generally cancel the bank card.
Therefore, the bank card expires due to insufficient balance in the card to pay the annual bank card fee. If the card has enough memory, the system can be used normally after deducting the annual fee. The most common ones are bank credit cards and quasi-credit cards. This type of credit card is usually issued every five years. The bank will automatically send you a maturity date notice one month before the maturity date. Generally, it will contact you by phone. If you reply to the automatic card renewal by phone, the bank will send you a new card and recalculate the 5-year validity period. If the balance does not exceed the period specified by the bank, the bank will generally cancel the bank card.
3. The bank card expires because the balance in the card is insufficient and the annual fee of the bank card cannot be paid. If the card has enough memory, the system can be used normally after deducting the annual fee. Generally speaking, there is no concept of bank card expiration, unless there are major changes in the banking system of your card, but in this case, you will be notified to change to a new card. The bank can be changed, but the bank account number remains the same. Therefore, ordinary bank cards will not expire as long as there is a balance. After the card expires, you need to get a new one to continue using it. If it's a debit card, go to the bank with your ID card. If it is a credit card, the bank will contact the cardholder before the old card expires and mail the new card in advance.
: If you do not receive notification from the bank or forget it, the expired bank card will be frozen by the bank, but the money is still your money. You can apply for renewal at the bank where the card was issued. Generally, there is no malicious intent. If you have an overdraft, the bank will renew you a new card.
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Why do credit cards need to be replaced with new ones after a few years? The reason is actually very simple
Many friends who applied for a credit card for the first time thought that they could keep using it after getting the credit card. However, they did not expect that the credit card would also expire and the bank would send a text message to remind them to replace it with a new card. So why do you need to change your credit card to a new one every few years? In fact, banks also consider these points. Let’s take a look at the reasons.
Why should I change my credit card to a new one every few years?
Each credit card will be marked with an expiration date. You can judge the usage period of the credit card based on a set of numbers displayed on the card. When a credit card expires, it must be replaced with a new card before it can be used. The validity period of the new card will be recalculated. The old card and password will be used when the new card is obtained. The old card will be completely invalid from the moment it is activated.
As for why credit cards are not valid for a long time and must be replaced when they expire, there are usually two reasons:
One is that banks have age restrictions on the use of credit cards. This can be judged from the credit card application age. Most banks require applicants to be between 18 and 60 years old. Those who are too young or too old cannot apply. The bank will also pay attention to the age of the cardholder at any time. If the cardholder's age exceeds the maximum application age, the bank may not renew the card.
One is the bank’s protection measures for credit cards. Many cardholders leave their cards idle after activating their credit cards. Some even change their mobile phone numbers and are unable to receive SMS notifications from their credit cards. Even if their credit card information is leaked and stolen, they will not know it. If the validity period is not set, the loss will be lifelong. of. If you don't replace the card with a new one after the expiration date, the old card will become invalid, which can be regarded as a timely stop loss.
The above is the relevant introduction to "Why do credit cards need to be replaced with new ones after a few years". I hope it will be helpful to everyone.
Why do credit cards expire? Want to change the card?
1. The state stipulates that bank cards must have a certain period of use. Generally speaking, when your credit card is about to expire, bank staff will proactively contact you and ask you to change to a new card. However, it takes time for the bank to readjust the limit, make the card, and send the card back, so it is best for you to contact the card issuer one month in advance and request a replacement card.
2. Why do credit cards have expiration dates
1: Adjust the credit card limit
Everyone knows that increasing the credit card limit is not something that happens overnight. Many times, you need to ask for permission. When it comes to bank applications, some people find it troublesome and won't do it. After the credit card usage period expires, the bank will reissue the card to you. At this time, it will make new limit adjustments based on your past consumption records, current financial capabilities, and personal credit information.
As long as you don't use your credit card maliciously such as overdue fees, the bank will usually increase your credit limit and upgrade your card. After you see the cool card, you will be happy and have the desire to spend, and the bank will be happy too.
2: Improve credit card security
If you are not careful when using your credit card, it can easily lead to credit card theft. However, when the credit card is swiped at the POS machine and bound to the credit card usage software, it needs to be verified for a limited period, which provides additional security. Moreover, after the limited period expires, consumption will be refused, which can prevent card thieves from misbehaving. In addition, after a credit card is used for a long time, the magnetic strip and other related information will be worn out, and the functions are not advanced. After replacement, the credit card's usage functions can be increased, which can facilitate the cardholder's daily consumption.
3: What to do after your credit card expires
Generally speaking, when your credit card is about to expire, bank staff will proactively contact you and ask you to change to a new card. However, it takes time for the bank to readjust the limit, make the card, and send the card back, so it is best for you to contact the card issuer one month in advance and request a replacement card. This is better for cardholders who change jobs or home addresses, and allows the bank to clearly know the cardholder's receiving address. This is crucial as the bank will not cause errors and will not affect the normal use of the card.
Why should I get a new card if my credit card has not expired? These matters need to be noted
It is necessary to replace your credit card with a new one when your credit card expires. Otherwise, you cannot continue to use the expired credit card without getting a new card to activate it. However, some cardholders want to change their credit cards before they expire, so why is this? Let’s discuss the topic of “Why should I change my credit card before it expires?”. Friends who are interested can take a look.
There are usually two reasons why you need to change your credit card before it expires
1. The credit card information is leaked and it is no longer safe to use the card: for example, a cardholder lends his credit card to others and asks for it. If you don't come back, or if your credit card is lost, you are worried about it being swiped. Because you are worried about causing serious losses to yourself, many people will still apply for a new card by reporting the loss of the credit card even though the credit card has not expired.
2. The credit card is damaged and the card cannot be swiped regularly: Many cardholders do not take good care of their cards after receiving them. They often mix multiple cards together, causing the card to become demagnetized; It is not possible to swipe the card on the card swiping machine, unless it is bound to WeChat or Alipay for payment. If the card has not expired, it is necessary to replace it with a new one.
It should be noted that in the above two situations, if the card has not expired and you need to replace it with a new card, and if your credit card expires and you need to replace it, the new card you will get will be different. The new card that is replaced after a credit card is reported lost or damaged is not the same as the original old card; the new card that is obtained when the card is expired is the same as the old card, except for the validity period and the security code behind it.
The above is the relevant introduction to "Why should you change your credit card before it expires?" The last thing to remind is that if your credit card has not expired and you replaced it with a new one, if you have previously bound the card to WeChat, Alipay or other quick payments, you must unbind the old card and rebind the card before you can pay, otherwise the new card will be activated If the old card is invalid, quick payment cannot be made.
That’s it for the introduction of why credit cards should be replaced with new ones.