When Is a Credit Card Expired?
Credit cards need to be replaced after a period of time for two key reasons. For one, it is wise to change the numbers regularly to avoid identity theft. In addition, the card becomes worn out over time. Know when your credit card is officially expired so that you can renew it in time to avoid having the card rejected for payments.
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Expiration Date
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You can tell when a credit card is expired by simply checking the date printed at the bottom of the card. A credit card expiration date is listed as a month and a year. The credit card remains valid until the last day of the month printed on the card. A credit card commonly expires between one to three years after the credit card company issues it to you.
After Expiration
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When the credit card is officially expired on the last day of the month, the card closes and will no longer work for purchases. The credit card account and credit line remains open, except you cannot access the available funds using that particular card's information. In many cases the credit card company sends a replacement card in advance of the existing card's expiration date. Simply activate the new card for continued use of the account and shred the old card.
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Subscription Payments
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Staying aware of your credit card expiration date is particularly important if you have subscription arrangements set up for the card. With subscription payments the provider process recurring charges to the card you have on file. In most cases the provider sends you a notification warning you that the card expiration date is nearing. To avoid service interruption, you should activate the new card as soon as you receive it and update all subscription payment data with the new information before the current expiration date.
Permanent Card Expiration
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In some cases a creditor can decide to expire a credit card for good. Creditors have the right to terminate the credit card account and deactivate the existing card permanently. This commonly occurs due to non-payment on the account, lack of use or other concerns about risks associated with the account. A permanently closed account can negatively affect your FICO credit score.
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