Why does the newly activated credit card (credit card) show that the card has expired when I swipe the credit card (credit card)?
The newly activated credit card (credit card) shows that it has expired when you swipe the credit card (credit card), because the credit card (credit card) has expired. Credit cards (credit cards) must be used within the validity period. If the user does not activate the card for a long time after applying for it, and then activates it when the validity period is about to expire, then he may encounter an expired reminder when swiping a credit card (credit card). . At this time, the user can ask the bank to reissue a new card, receive the new card and activate it, and the user can continue to use the card.
In addition, before a credit card (debit card) expires, the bank will usually send a new card to the user, but if it is activated before expiration, the bank may not send a new card.
Will credit cards also expire?
1. They will expire. Credit cards have a validity period.
The expiration date of the validity period will be marked on the front of the card. Different banks have different validity periods. The bank shall prevail.
2. Contents related to credit card period
1. Generally, the validity period of credit cards is three years, but there are also five years. Different types of credit cards have different validity periods. Each credit card is marked with an expiration date, which is the number below the credit card. The front refers to the specific month, and the back refers to the specific year. If the credit card is reissued, the validity period will remain unchanged.
2. Generally speaking, one month before your credit card is about to expire, major banks will take the initiative to mail new cards to customers. If you do not receive a new card for a long time, you must Contact the bank as soon as possible and the bank will resend you a new card. Under normal circumstances, the new credit card and the original credit card are the same in terms of functions, limits, etc., and the points from the original credit card will be transferred to the new credit card. If you have a bad credit record, the bank will lower your credit card limit. On the contrary, if you have always maintained a good credit record, you can apply to the bank to increase the limit according to your own needs, and the bank will generally agree.
3. Once a credit card expires, the card can no longer be used and a new card needs to be replaced. However, generally one month before the credit card expires, the bank will proactively send a new card to the customer. But it should be noted that if you don't want to continue using the card, you can call the card issuer one month before the card expires and ask not to replace it with a new card, but you have to pay off all the credit card balances. If you want to continue using the card, but your mailing address changes, in order to receive the new card from the bank, you can call the card issuer one month in advance to change the mailing address of the credit card, or you can change the mailing address on the official credit card website. Updated here.
4. Void the expired credit cards that have been cancelled. Although the credit card has been canceled, the magnetic stripe of the card still retains the relevant information of the credit card. Just use scissors to cut the card. The more broken the card, the better, so the information will not be easily leaked.
What does it mean when a credit card expires? Cardholders should make these preparations
Many cardholders often receive text messages from their banks during the process of using their cards, saying that the credit card is about to expire and a new card will be sent within a month. Many people don't know much about credit card expiration and want to know why a credit card has expired. What does it mean? Here I will give you a brief introduction, and by the way, some preparations that cardholders need to make, let’s take a look.
What does it mean when a credit card expires?
Credit card expiration means that the validity period of the credit card is about to expire. This validity period is a set of numbers marked on the card, in the format MM/YY, where MM refers to the month and YY refers to the year, that is, the credit card can only be used until YY year MM month, it cannot be used after it expires. If you want to continue using the card, you don't have to apply for a new card. You just need to get a new card sent by the bank.
The new card carries the information of the old card, but the validity period on the card is recalculated. After getting the new card, activating the old card becomes invalid. If the new card is not activated, the old card can only be used until a certain date in the year of validity. At the end of the month, the new card can be activated at any time within the new validity period, but not at the latest two months before the validity period, because the bank will only send new cards to activated credit cards.
Note that some cardholders have changed their mobile phones or moved after applying for a credit card. These contact information are different from those when they applied for the card. They should replace the old contact information with the new one on the credit card APP as soon as possible. , in order to receive bank text messages in time.
Otherwise, when the credit card expires, the bank will still send text messages to the original mobile phone and send the card to the original address. The new card may be missed. Some couriers may not be able to contact the cardholder and may send the card to the original address. If the EMS with a credit card is returned to the bank, or placed at a courier station, the cardholder will not receive a new card, and will no longer be able to use the card when the old card expires.
The above is the relevant introduction to "Why does a credit card expire?", I hope it will be helpful to everyone.
What does it mean when a credit card shows that the card has expired?
The expiration of a credit card means that the validity period of the credit card is about to expire. This validity period is a set of numbers marked on the card in the format of MM/YY , where MM refers to month and YY refers to year, that is, the credit card can only be used until MM month of YY year, and it cannot be used after it expires. If you want to continue using the card, you don't have to apply for a new card. You just need to get a new card sent by the bank.
The new card carries the information of the old card, but the validity period on the card is recalculated. After getting the new card, activating the old card becomes invalid. If the new card is not activated, the old card can only be used until a certain date in the year of validity. At the end of the month, the new card can be activated at any time within the new validity period, but not at the latest two months before the validity period, because the bank will only send new cards to activated credit cards.
Note that some cardholders have changed their mobile phones or moved after applying for a credit card. These contact information are different from those when they applied for the card. They should replace the old contact information with the new one on the credit card APP as soon as possible. , in order to receive bank text messages in time.
Otherwise, when the credit card expires, the bank will still send text messages to the original mobile phone and send the card to the original address. The new card may be missed. Some couriers may not be able to contact the cardholder and may send the card to the original address. If the EMS with a credit card is returned to the bank, or placed at a courier station, the cardholder will not receive a new card, and will no longer be able to use the card when the old card expires.
The validity period of a credit card is generally between 3 and 5 years. If it is a new card, the validity period is 3 years. If it is an expired card, the validity period is usually 5 years. After the expiration date, the credit card cannot be used. If you want to continue using it, you can contact the bank to replace it with a new card. The new card can only be used after activation. After activation, the billing date and repayment date will not change, and the functions of the original card will be inherited. The validity period of the credit card will be marked on the front of the card in the format of "month/year". For example, the card shows 12/23, which means that the credit card will expire in December 2023.
Why do credit cards also have expiration dates?
As for the card itself, it will wear out during use and has a limited service life. Of course, it needs to set an expiration date. For individuals, it can prevent the risks caused by the cardholder forgetting to report the loss after losing the card, the cardholder's long-term malicious overdraft, and the risk of others using the credit card after the cardholder's death. For banks, setting an expiration date can ensure that the bank's money continues to be lost in time when necessary.
1. Reduce the risk of fraudulent use
If you lose your credit card and get it by someone else, if there is no expiration date, can you keep using the owner's card? Even if it is picked up by someone, it cannot be used after the expiration date. When swiping the card for consumption, the merchant will check the expiry date, which can reduce some losses.
2. Updating and upgrading protection
The security protection technology of credit cards is constantly being upgraded. When the expiration date is reached, you get a new card, which will be protected by the latest security technology. For example, chip cards are more secure than magnetic stripe cards.
3. Three updated codes
Besides the signature strip on the back of the card, there will be a three-digit number, which is actually a password. Don’t tell others.
When swiping a card for consumption without the last three digits, the merchant can refuse to swipe the card.
4. Reassess the risk
After the credit card expires, the bank will take the initiative to change the card for you and reassess the risk at the same time. The quota may be increased or decreased, depending on the previous usage.
That’s it for the introduction to why credit cards expire.