Why do credit cards have an expiry date? - Seedly
 

Credit Card

Asked by Huang Yixuan

Asked on 13 Aug 2019

Why do credit cards have an expiry date?

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Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 13 Aug 2019

I have 2 articles here if you are interested.

https://www.investopedia.com/financial-edge/0712/what-happens-when-your-credit-card-expires.aspx

https://www.creditcards.com/credit-card-news/herigstad-credit-cards-expiration-date-1294.php

Bascially 2 things:

1) Wear and tear. Our credit card is actually quite complicated, holding a lot of information. But as time pass and with frequent use, the card itself will spoil as they are not built to last forever. Expiry date gives the bank a chance to give you a new card. Your credit card account remains active.

2) Prevent fraud. I think it is rather self explanatory for this.

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