What to do with expired credit cards

All credit cards eventually expire. The month and year that it expires is printed on the front of your card and your bank will usually send you a replacement card before this date. But what should you do with your old card? Here's how to safely dispose of your credit card – plus answers to other frequently asked questions about credit card expiry.

What to do with your old credit card

Once you've activated the replacement card, you can get rid of your old card. But don't throw it straight into the bin, because someone could find it.

If that happens, they usually wouldn't be able to use the expired card for new transactions. What they could do, though, is use the personal information listed on the card or the data stored in the card's magnetic strip for identity fraud. So you should destroy the old card before throwing it out.

How to destroy your expired credit card

Here are the steps you can take to safely dispose of your expired credit card:

1. Cut your card horizontally. Use a strong pair of scissors to cut through your card lengthways. Make sure you cut through the account number, your signature on the back and the magnetic strip (which contains your personal information).
2. Cut your card vertically. Cut the pieces of your card from top to bottom, with space between the cuts at every 2-4 digits.
3. Cut through the CVV code. Your CVV number (or security code) is 3- or 4-digits on your card that you usually need to enter when you shop online. Find this part of your card and cut it into small pieces so that it can't be read or put back together.
4. Destroy the chip. This is the silver or gold square chip that's usually found on the side of your card. You can cut this up with scissors (or smash it with a hammer if you want to have some fun).

Once you've cut up your card so that the pieces can't be put back together, you can dispose of the card. You should throw the separate fragments away in a few different bins so that the pieces can't be recovered and put back together.

Are credit cards recyclable?

Most credit cards are not recyclable because they are made of PVC (polyvinyl chloride), a type of plastic that is difficult to recycle.

So if you put a regular credit card (or cut-up pieces of a credit card) into your recycling bin, it will be considered as "contaminated recycling" and could end up in landfill.

The good news is that there is some change happening in this space. For example, TerraCycle Australia offers a Plastic Cards Zero Waste Box that can recycle credit cards, debit cards, gift cards and other plastic cards. The prices for these boxes start at $193, making it an option that's more suited to community centres or organisations than individuals.

More sustainable and recyclable cards are also starting to become available. For example:

• Mastercard has a worldwide sustainability initiative that includes producing cards that are recyclable, recycled and/or created from bio-sourced materials.
• American Express gives card members reply-paid envelopes so they can return a metal card once it has expired.
• Fintech company Hay offers a payment card that is made of 85% biodegradable material.
• The MONEYME Freestyle Virtual Card is a digital card that's added to your mobile wallet so you can pay from your phone or other device, without adding a plastic card to your physical wallet.

These are just a handful of examples that show card recycling could be easier in the future. For now, focus on cutting up the details on your old card and putting it in the bin, or into a TerraCycle Zero Waste Plastic Cards Box if you can get one in your area.

Frequently asked questions about expired credit cards

When does my credit card expire?

Your credit card expiry will be listed as a month and a year on the front of your credit card. Let's say that your expiry date is 05/2024, your card would expire at the end of May 2024.

Can I use my credit card after it has expired?

No, you can't use your credit card after its expiry. If you do, your transaction will be declined. You should receive a replacement card that you can activate and use before your old card expires.

Will my new credit card have the same numbers?

If your card has expired, your replacement credit card should have the same account number and name printed on the front but it will have a different expiration date and security CVV number. This is why you'll need to update any direct debits with your new card information once it's been activated.

Replacing your old card? Compare some of the latest credit cards

Name	Purchase rate p.a.	Bonus points	Points per $ spent	Interest-free period	Balance transfer rate p.a.	Annual fee
Kogan Money Card – Exclusive Offer ExclusiveKogan Rewards Program	Purchase rate p.a. 20.99%	Bonus points N/A	Points per $ spent 1	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 18 months with 1% balance transfer fee, then 21.74%	Annual fee $0	Go to siteMore Info Compare	0% Balance Transfer Offer Get 0% p.a. on balance transfers for 18 months with a 1% balance transfer fee. Plus an ongoing $0 annual fee.
Bankwest Breeze Classic Mastercard	Purchase rate p.a. 0% for 12 months, then 12.99%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 12 months with 2% balance transfer fee, then 12.99%	Annual fee $49	Go to siteMore Info Compare	0% Interest Offers Save with 0% p.a. on purchases and balance transfers for 12 months (with a 2% BT fee).
Latitude 28° Global Platinum Mastercard	Purchase rate p.a. 26.99%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a.	Annual fee $0	Go to siteMore Info Compare	0% Foreign Currency Conversion Fees Save with 0% international transaction fees on purchases. Plus, complimentary Flight Delay Pass and global data roaming.
Coles No Annual Fee Mastercard Flybuys	Purchase rate p.a. 0% for 6 months, then 19.99%	Bonus points 20,000	Points per $ spent 0.5	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 19.99%	Annual fee $0	Go to siteMore Info Compare	20,000 Bonus Flybuys Points Get 20,000 bonus Flybuys points (worth $100 Flybuys Dollars) and 0% interest on purchases for the first 6 months.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer Velocity Frequent Flyer	Purchase rate p.a. 20.74%	Bonus points N/A	Points per $ spent 0.66	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 24 months, then 20.99%	Annual fee $0 first year ($129 after)	Go to siteMore Info Compare	0% Balance Transfer Offer Get 0% p.a. on balance transfers for 24 months (with no BT fee) and a $0 annual fee in the first year.
NAB Low Rate Credit Card	Purchase rate p.a. 12.49%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 28 months with 2% balance transfer fee, then 21.74%	Annual fee $0 first year ($59 after)	Go to siteMore Info Compare	0% Balance Transfer Offer Get a 0% p.a. interest rate on balance transfers for the first 28 months (with a 2% BT fee). Plus, save with a $0 first-year annual fee.
Qantas Premier Platinum Qantas Frequent Flyer	Purchase rate p.a. 19.99%	Bonus points 80,000	Points per $ spent 1	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 12 months, then 21.99%	Annual fee $349 first year ($399 after)	Go to siteMore Info Compare	Up to 80,000 Bonus Points Earn up to 80,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers.
Westpac Low Rate Card	Purchase rate p.a. 13.74%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 28 months, then 21.49%	Annual fee $59	Go to siteMore Info Compare	0% Balance Transfer Offer Save with a 0% p.a. interest rate on balance transfers for 28 months. Plus, a low 13.74% p.a. purchase interest rate.
Bankwest Breeze Platinum Mastercard	Purchase rate p.a. 0% for 12 months, then 12.99%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 12 months with 2% balance transfer fee, then 12.99%	Annual fee $69	Go to siteMore Info Compare	0% Interest Offers Get 0% p.a. interest on purchases and balance transfers for 12 months (with a 2% BT fee). Plus 0% foreign fees and complimentary overseas travel insurance.
Qantas Premier Everyday Qantas Frequent Flyer	Purchase rate p.a. 19.99%	Bonus points 8,000	Points per $ spent 0.75	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 12 months, then 21.99%	Annual fee $49	Go to siteMore Info Compare	Balance Transfer & Bonus Points Get 2 bonus Qantas Points per $1 spent on eligible purchases in the first 4 months (up to 8,000 points), plus complimentary insurance.
American Express Qantas Business Rewards Card Qantas Business Rewards	Purchase rate p.a. 0%	Bonus points 100,000	Points per $ spent 1.25	Interest-free period Up to 51 days on purchases	Balance transfer rate p.a.	Annual fee $450	Go to siteMore Info Compare	100,000 Bonus Qantas Points Offer ABN holders w/ $75k revenue. Earn 100,000 bonus Qantas Points when you spend $3,000 in the first 2 months.
Qantas American Express Ultimate Card Qantas Frequent Flyer	Purchase rate p.a. 23.99%	Bonus points 60,000	Points per $ spent 1.25	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a.	Annual fee $450	Go to siteMore Info Compare	60,000 bonus Qantas Points Get 60,000 bonus Qantas Points when you spend $3,000 in the first 3 months. Plus, a yearly $450 Travel Credit.
NAB Rewards Business Signature Card NAB Rewards	Purchase rate p.a. 18.5%	Bonus points 100,000	Points per $ spent 1.25	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a.	Annual fee $175	Go to siteMore Info Compare	100,000 Bonus Points Get 100,000 bonus NAB Rewards points when you spend $4,000 on everyday business purchases in the first 60 days. ABN required.

loading

Load More