Credit cards issued by banks are valid for 3-5 years. On the one hand, from a physical point of view, credit cards are frequently used and will be worn out after long-term use;
On the other hand, because the financial situation of credit card holders is constantly changing, banks can decide whether to continue issuing cards after the expiration of three years according to the cardholder's card use. In addition, the validity period of the credit card can also enable banks to avoid the risks of forgetting to report the loss of the credit card, long-term malicious overdraft, and fraudulent use of the credit card after death.
The reason for setting the validity period.
1. From a physical point of view, credit cards, as a payment medium, are used frequently and will be worn out after long-term use. I believe that many card users have encountered cards with warped skin, so it is necessary to replace them regularly.
2. Theoretically, the financial situation of the cardholder is constantly changing. After the credit card expires for three years, the bank can decide whether to continue issuing the card according to the cardholder's use of the card;
3. Reduce or avoid risks: the cardholder forgets to report the loss after losing his credit card; Cardholder's long-term malicious overdraft; After the cardholder died, the credit card was fraudulently used.
What if the cardholder doesn't want to continue using the credit card after it expires? The method is simple. Just call the credit card center of the issuing bank one month before the expiration date and tell them not to issue cards.
References:
Definition of credit card date terms-Baidu Encyclopedia