What Should You Do When Your Credit Card Expires?

Credit cards are a convenient way to pay for purchases, but they do have a lifespan. Eventually, your credit card will expire, and you'll need to take some steps to ensure that your account stays active and your credit score remains intact. In this article, we'll explore what you should do when your credit card expires and provide tips for managing your credit card accounts.


Watch for Your Expiration Date

The first step in managing your credit card accounts is to be aware of when your cards are set to expire. Most credit cards have an expiration date printed on the front or back of the card, typically in the month and year format (e.g., 02/23). It's a good idea to set a reminder on your calendar or phone a month or two before your card's expiration date to give yourself enough time to take action.

Wait for Your Replacement Card

Most credit card issuers will automatically send you a replacement card before your current card expires. This new card will have a new expiration date and a new security code (the three-digit number on the back of your card). If you don't receive your new card within a week or two of your expiration date, contact your credit card issuer to find out what's going on.

Update Your Auto-Pay and Payment Information

If you have your credit card set up for auto-payments or have saved your card information with merchants, be sure to update this information with your new card number and expiration date. Otherwise, your payments may not go through, and you could incur late fees or damage to your credit score. It's also a good idea to check your credit card statement for any automatic payments that you no longer need or want to cancel.

Check Your Rewards and Benefits

If your credit card offers rewards points, cashback, or other benefits, be sure to check your account to make sure that they carry over to your new card. Some rewards programs may expire, so it's a good idea to use your rewards points before your old card expires. Also, be sure to check your new card's benefits to see if there are any changes or updates that could benefit you.

Destroy Your Old Card

Once you receive your new credit card, be sure to destroy your old card. Cut it up into small pieces and dispose of it securely. This will prevent anyone from using your old card and will protect you from identity theft.

Update Your Account Information with Other Services

If you have your credit card linked to any other services, such as PayPal or a mobile wallet, be sure to update your account information with your new card number and expiration date. This will ensure that you can continue to use these services without interruption.

Monitor Your Credit Score

Finally, it's a good idea to monitor your credit score after you receive your new credit card. Your credit score can be affected by changes to your credit card accounts, including the opening of a new account or the closing of an old one. Be sure to check your credit report regularly to ensure that all of your accounts are accurate and up to date.

Conclusion

Managing your credit card accounts when your card expires is an important part of maintaining good credit health. By watching for your expiration date, waiting for your replacement card, updating your auto-pay and payment information, checking your rewards and benefits, destroying your old card, updating your account information with other services, and monitoring your credit score, you can ensure that your credit card accounts remain active and that you continue to enjoy the benefits of credit card use.

Read More: Step-By-Step Guide To Activating your New Credit Card

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