Be sure to read the requirements clearly, and the instructions should be filled in according to the letter
card validity format.
Why should the validity period be set for a credit card?
First, the card will wear out
Any card has a life, and it will be damaged more or less after a certain process of wear and tear, so after a period of time, it is necessary to replace it with a new card to ensure that it can be swiped normally.
Second, the functions need to be updated
In order to give cardholders a better experience and service, the functions of the card will be constantly updated, for example, from the magnetic stripe card to the chip card, which has greatly improved the security performance and greatly reduced the possibility of credit card theft.
Third, risk assessment
In addition to the card itself, the bank also needs to re-evaluate the risk of the cardholder, and the financial resources and work of the cardholder will change constantly. In order to reduce the risk, the bank needs to evaluate the cardholder.
Fourth, reduce risks
For cards that have been idle or lost for a long time, the longer the validity period, the greater the probability of card theft and the higher the risk.
Fifth, increase the guarantee
Besides the above items, there is another function to add a layer of guarantee. Because when we pay online, we sometimes need to enter sensitive information such as the expiration date and the last three codes, and one more verification is also more secure.
Processing method of expired credit card:
Step 1, contact the issuing bank. Cardholders need to contact the bank in advance to explain the situation and ask for a new card to avoid normal use after expiration.
step 2: activate after receiving the card. The newly received credit card needs to be reactivated, and the old card will be invalid. Since it is not the first card, the activation step will be relatively simple.
step 3, cut off the old card. Old cards may still be stolen. During the insurance period, it is necessary to cut and destroy the old cards in time after the new cards are activated.
there is a reason why banks are set up like this, and the original intention is to consider the cardholders.