Why should I check my credit card expiry date now?
(feat. Recommendation of a real credit card that will be discontinued)
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Credit cards also have an expiration date. After the granted validity period, the card loses its payment function. It is not different from the general meaning indicated by ‘validity period’.
It doesn’t spoil like food
Why did you set the expiration date?
There are three main These include technical limitations due to magnetic wear, card user credit check, and inducement of new card issuance. 신용카드 체크카드 유효기간
The magnetic stripe on the back of the card wears out as the card is used. Up to 5 years is the lifetime of a magnetic wire. So, the validity period of the card is usually 5 years. 좋은뉴스
Three to five years is a good time to renew your card and check your creditworthiness. In addition, the expiration date of the card becomes a means for the existing user to use a new card product.
The discontinued ‘real card’
In fact, most of the payments are made with IC chips, not magnetic wires, and real-time credit ratings are common these days. The first two reasons are not persuasive.
It seems appropriate to understand it as a marketing dimension for card companies that feel burdened in maintaining one card product for more than five years. What if there is no expiration date on the ‘real card’, which is known to make the card company lose money the more the user uses it? It’s good for users, but wouldn’t it be a disaster for credit card companies?
Unlimited card to be discontinued
Is the validity period the same even if it is reissued?
Cards that are about to expire can be renewed. You can continue to use the same card only by extending the validity period.
When the expiration date approaches, the card company notifies the user by phone, e-mail, or text message. At this time, you can ask to keep the card you used without changing to another card.
However, not all cards can be extended. Whether or not to extend the validity period varies from card company to card company and card product to card product. A new issuance suspension, that is, a card that is scheduled to be discontinued may not be able to extend the validity period.
In particular, there is a high possibility that the ‘real card’, which has been discontinued, will no longer be usable after the expiration date. This is because there are not many credit card companies that can maintain long-term card products that do not guarantee profitability.
Of course, the probability of not extending the validity period is higher than that of general cards, but you can find out if you actually extend it by asking the card company. Therefore, if you hear the news that the card you are using is being discontinued, be sure to ask for an extension of the expiration date.