How credit card expiration works Each credit card comes with a printed expiry date, usually in month and year format. The expiry date indicates the final month when your card is acceptable for purchases. Once the expiry month passes, the card automatically expires, even though your initial credit account with the bank remains active. Expiry allows for regular upgrading of card technology, appearance, and security features.
What happens when your card has expired Banks will send a replacement card long before the expiration date, typically a few months in advance. The replacement card will be linked to the same credit account and limit, and thus your payment history and benefits are preserved. If you do not receive the replacement card, you should call your bank immediately so that there is no disruption in transactions, especially if you have recurring payments like EMIs or subscriptions on the card.
Impact on repeat payments and EMIs Overdue auto payments of EMIs, insurance premium, or subscription fees are likely the most common issues after your card has expired. Since they are linked to your card number, you will need to give the updated information with the new card when you get it. Not doing so within time can cost you additional fees, suspension of service, or even a penalty on your credit score in case of delayed EMIs.
Does the expiration of my card harm my credit score? Expiration of your card itself does not hurt your credit score. Your account is smoothly transferred with the new card, and your payment history is intact. But if you are delayed in payments through stopped auto-debits or fail to activate the replacement card in time, it harms your credit record indirectly. Smooth transfer to the new card is essential.
Security and technology updating Expiry dates also allow issuers to retire older cards and replace them with newer ones with enhanced chip-based protection or contactless payment. This provides an added level of protection from fraud and ensures that your card is compatible with newer payment systems. So, while expiry might be inconvenient, it is also a method of enhanced customer protection.
Staying one step ahead with your card Credit card expiration is a normal protocol meant for your security and convenience. Provided your account remains open, you need to make sure your new card is received, activated, and rescheduled for all ongoing payments. These moves will prevent your payments from getting disrupted and maintaining a good fiscal record.
