Some people have applied for a lot of credit cards (debit cards), but they don’t actually use so many of them on a daily basis; or because the discounts are running out, it’s useless to use them; just use them. These dispensable credit cards (debit cards) are all gone. However, even if it is an idle credit card (debit card), you still need to pay an annual fee or something. This expense is not cost-effective no matter what.

As a result, some people are thinking of canceling all these unused credit cards (debit cards). However, can the canceled credit card (debit card) be thrown away after the cancellation? Wait, stop! Of course not! The canceled credit card (debit card) must be cut off! Especially the old credit cards with magnetic strips!

So, why must the canceled credit card (debit card) be cut off?

1. Because credit cards (debit cards) have a cancellation cycle

Whether you go directly to the bank counter to cancel the card or apply for cancellation over the phone, after receiving the customer's application, the bank will We will check whether there is any debt on the credit card (credit card), whether the customer has any other unpaid bills, etc., and it will take a certain period of time to process.

Therefore, after applying for card cancellation, the credit card (debit card) is only apparently invalid, but there is still a "danger period" before the bank processes it. During this period, if the credit card (debit card) is not cut and is lost and picked up by others, there will be a risk of being swiped.

Generally speaking, this period is 45 days, but the regulations of each bank are different. It is best to ask the bank clearly before canceling.

2. Because canceling a card does not mean canceling an account

According to the "Measures for the Management of Customer Identification and Preservation of Customer Identity Materials and Transaction Records of Financial Institutions", bank account information shall be recorded from the year of transaction accounting. It will be kept for at least five years. In other words, after applying for a credit card (debit card), the bank will set up a bank account based on the cardholder's information. The card is just a manifestation of the account, so canceling the card does not mean canceling the account.

Nowadays, the same credit card (debit card) limit of the same type from the same bank is universal. Therefore, if you do not cut off the card after canceling it, and the card is not canceled successfully, your credit card (debit card) may still be stolen.

3. Your personal identity information remains on the magnetic strip of your card.

Although, all credit cards (debit cards) issued by banks now are chip cards. However, some users still have magnetic stripe cards. Therefore, when canceling a credit card (credit card), everyone must also pay attention to whether the credit card (credit card) they cancel has a magnetic stripe. If so, be sure to remember to cut the card. Because your personal identity information still remains on the magnetic stripe of your credit card (credit card). If you don't cut the card, your personal identity information will also be leaked, causing the credit card (debit card) to be stolen.

In summary, I suggest that after canceling your credit card (debit card), you must remember to cut it!

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