If your credit card has expired or if it is due to expire soon then there are a few things that you should be aware of. The first and most important is how you are planning on disposing of your card when your new one arrives.

How to Safely Dispose of an Expired Credit Card

You may not think about it, but even if your card has expired, in the wrong hands it could potentially cost you a lot of money. This is because fraudsters are able to take the details from your old card and figure out how to draw money from your new account. They may also be able to still use that card for a short while too, so it is a good idea to properly get rid of it.

Most people think that by cutting up the card, it will automatically make it useless to anybody who may find it. However that is not always necessarily the case. Unless you cut the card up into tiny little pieces, it could still be used for fraudulent purposes. So check that when you cut it up that you cut through the gold chip, your account details and your name. Finally throw some of the card pieces into the trash one week and the other the week after. That will ensure that no fraudster can use your details, even if they do manage to get their hands on part of your card.

It may seem extreme and it is easy to think that nobody will go through your trash when you are sat nice and snug at home. However, there are many people who are willing to go through your trash to see what details they can find. Fraud is a serious business and fraudsters rely upon people being naïve and trusting in people. So do not give them a chance to steal your details, always dispose of your old card in the appropriate way.

Before you receive your new card, you should also make sure that you cancel the old one. Some people just assume that their old card will automatically be cancelled but that is simply not the case. It will only be cancelled if you ring your lender up and report the card as stolen; otherwise it is classed as still being in use. So ring your lender up and ask them to cancel the card as you are getting a new one. This will further make sure that your details on your expired card are safe.

Overall you really cannot trust anybody and so shredding your expired card before you throw it away is definitely the best idea. Make sure that you also ring up to cancel the card and that will provide you with extra protection in case the worst were to happen. Just because the card has expired, it does not mean that nobody can use it so remember that and dispose of it correctly.