How Long Do Credit Cards Last Before They Expire?

A credit card’s lifespan involves two aspects: the physical card, which has an expiration date, and the underlying credit account, which can remain open indefinitely. This article explores the reasons behind physical card expiration, the enduring nature of the credit account, the process of receiving a new card, and how to properly dispose of old ones.

Physical Credit Card Expiration

Every physical credit card comes with an expiration date, typically displayed as MM/YY. This date indicates when the card will no longer be valid for purchases. Credit cards generally expire every two to five years, with many issuers setting a three to five-year validity period. The card remains active through the last day of the month indicated.

Expiration dates serve multiple purposes. They help combat fraud by ensuring stolen card information becomes obsolete, as new cards feature new expiration dates and often new security codes. Expiration also accounts for physical wear and tear that can damage the magnetic strip or EMV chip. It also provides an opportunity for card issuers to implement security upgrades, update technology, or refresh branding.

Credit Card Account Lifespan

While the physical card has a defined expiration date, the credit card account itself does not automatically expire. As long as the account remains in good standing and is actively used, or if the cardholder chooses to keep it open, the account typically continues. The expiration date on the physical card pertains solely to that piece of plastic or metal, not the underlying credit line.

Several factors can lead to the closure of a credit card account. A cardholder may request closure at any time, or an account might close due to prolonged inactivity. Card issuers can also initiate account closure, often in cases of severe delinquency or repeated missed payments.

Receiving a Replacement Card

When a physical credit card approaches its expiration date, card issuers typically send a replacement card automatically. This new card usually arrives in the mail approximately 30 to 60 days before the existing card expires. The replacement card generally retains the same account number but will have a new expiration date and often an updated security code (CVV).

Upon receiving a new card, activate it promptly using the instructions provided by the issuer. After activation, cardholders should update any recurring payments or subscriptions linked to the old card. Even if the account number remains the same, the change in the expiration date necessitates updating this information with merchants to prevent service interruptions or declined transactions.

Proper Disposal of Expired Cards

Properly disposing of an expired or replaced credit card safeguards personal and financial information. Simply throwing the card away could expose sensitive data to unauthorized individuals, increasing the risk of identity theft or fraudulent activity. The card contains personal identifiers, account numbers, and security features that need protection.

The most effective method for disposal is to cut the card into multiple, small pieces, destroying the account number, your name, the magnetic strip, and the EMV chip. Using a cross-cut shredder designed for plastic cards offers an even more secure option. Some financial institutions also offer secure disposal services or events.