Usually, your bank debit card will expire every five to seven years. You will no longer be able to use it after that period of time. Bank credit cards, on the other hand, have a shorter expiration date. However, renewal is frequently automated, and new cards are often mailed to cardholders.

Debit users experience the inconvenience of needing to visit a bank to renew their cards. Why don’t banks simply make cards functioning indefinitely? There are three main reasons to it.

Reasons of Having Expiration Dates

The Card’s Condition

Even though it’s constructed of plastic, it won’t endure forever. Eventually, the card will be rendered useless. In addition, the card’s aesthetics, such as colour, style, graphics, and even new bank logos, necessitate a modification from time to time.

Adding a Security Layer to Prevent Possible Fraud

Besides your name, card number, and security code, you require the expiry date to make an online transaction. If the expiration date on the card does not match the information on the card, the payment will be rejected.

Updates on Technology

A bankcard can now accomplish a lot more than it did twenty years ago. Therefore, it is vital to update the card’s technology on a regular basis. Pin and Pay cards, which were released recently, have improved security as well as a contactless payment function.

How to Keep Track of the Expiration Dates on Your Cards

It would be unpleasant if your card is denied, especially if it is your sole means of payment. Thus, it’s important to keep track of expiration dates, which might be difficult if you have many cards.

To stay on top of your cards, you will have to:

1. Set a reminder on your phone one month before your card expires to replace it.
2. Keep an eye on ATM notifications and sign up for SMS alerts so you know when your card is ready to expire. Your card will also have the validity date etched on it.
3. Because credit cards are mailed, verify with your bank for an estimated delivery date so you can receive your card at home.
4. If you plan to use your cards overseas, double-check them before leaving on vacation.
5. After you’ve noted when your card will expire, you’ll need to renew it, which can be a quick and easy process in some situations, but it varies by bank.

For example, during the Pin and Pay debit card replacement exercise, certain banks provided online and kiosk options to quickly replace cards.

Fees are eliminated if your debit or ATM card is changed within a certain length of time after it expires, usually 12 months. However, if you lose or damage your card before it expires, you will need to pay to replace a new one.

You could also consider the expiration date of your card as a signal that it’s time to look for new, maybe better cards. On our comparison page, we offer a list of the finest credit cards in Malaysia for you to check out.

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