What is an expired card?

Definition and Example of an Expired Card

How Expired Cards Work

Definition and Example of an Expired Card

An expired card is a payment card whose expiration date has passed, and therefore you cannot use it for purchases. If you attempt to use an expired card, the transaction is likely to be declined.

The card typically expires on the last day of the month, and cannot be used for payments after that date. For example, if your card expires in January 2022, it will no longer work starting February 1, 2022.

Since December 1, 2006, merchants are not allowed to print expiration months on credit card receipts.

How Expired Cards Work

Most credit or debit cards have a month and year of expiration printed somewhere on the card, usually in the format MM/YY. The exact location depends on the card issuer.

For example, on Capital One cards, the expiration date is typically printed on the back of the card next to the security code, while most Barclays cards have the expiration date printed on the front of the card.

The Apple Card does not have an expiration date printed on the card itself. Instead, it is stored digitally in the Apple Wallet on an iPhone or iPad for the cardholder.

Credit cards expire for several reasons, including:

• Security: Banks regularly update the security features on their cards, so a new card is often issued to ensure it complies with the latest security measures.
• Technology: Previously, cards used magnetic stripes. Today, EMV chips are employed that enhance security and in some cases allow wireless purchases using credit or debit cards. Banks periodically update your card to reflect new technology.
• Wear and Tear: Over time, the numbers on your card may become worn and unclear, or the card itself may get bent or warped, rendering it unusable.

If you have an expired card, the bank is likely to automatically send you a new one. If that doesn’t happen, you can contact the bank to request a new card. Your new card will have a new expiration date and security code, though the card number may remain the same.

Sometimes, the card issuer might replace your current card with a completely different one; for instance, if it has been lost or stolen. If this occurs, your current card will expire before the printed expiration date.

In most cases, you need to activate your new card before using it. After receiving your new card, you should securely destroy your expired or soon-to-expire card, and update any automatic payments with the new card information.

When your card expires, the credit card or bank account linked to it remains active. The bank is likely to send you a replacement card before your current card expires, so be sure to update your address information on your account. If your information is outdated, your new card could be sent to your old address, and anyone living there might gain access to it.

Source: https://www.thebalancemoney.com/what-is-an-expired-card-5201834