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All You Need to Know About a Credit Card Expiration Dates

By Jason Steele · March 31, 2022 · 5 minute read

We’re here to help! First and foremost, SoFi Learn strives to be a beneficial resource to you as you navigate your financial journey. Read more We develop content that covers a variety of financial topics. Sometimes, that content may include information about products, features, or services that SoFi does not provide. We aim to break down complicated concepts, loop you in on the latest trends, and keep you up-to-date on the stuff you can use to help get your money right. Read less

All You Need to Know About a Credit Card Expiration Dates

From security to marketing, there are several reasons why credit cards have expiration dates. The expiration date on a card marks the final month and year you can use your card for purchases. There’s no reason to fret about this date though — your credit card issuer should already be on top of it with a new card in the mail.

Let’s take a closer look at what credit card expiration dates are, why they exist, and what the expiration date on your card means to you as a credit card user.

What Is a Credit Card Expiration Date?

An important aspect of how credit cards work, a credit card’s expiration date represents the last day you can use it for purchases. Credit card expiration dates are typically printed as a two-digit month followed by a two-digit year. The last day of the month printed is the last day that you can use your credit card to make new purchases. If you try to make a purchase on the first day of the following month, the transaction will be declined.

For example, if your card has an expiration date of 06/22, then you can use that card until June 30, 2022. If you were to try to use that card to make a purchase somewhere that accepts credit card payments on July, 1, 2022 — or any time thereafter — the charge would be declined, per credit card expiration date rules.

Fortunately, credit card issuers will mail you a new card with a new expiration date long before your card expires — you won’t have to worry about applying for a credit card. Most card issuers will mail out a new card 30 to 60 days before your old card is due to expire, so you’ll never be without a valid card.

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How to Find Your Credit Card Expiration Date

Your credit card’s expiration date will always appear on the card. In most cases, the expiration date will appear on the front of the card, on the right side, below the account number, which you’ll be familiar with if you know what a credit card is. But if the account number is printed on the back of the card, then that’s where you’ll most likely find the card’s expiration date.

Keep in mind that this number is separate from a CVV number on a credit card, which is usually a three- or four-digit number without a forward slash in it.

What Happens After a Credit Card Expires

Once your card expires, it is no longer valid for new purchases. However, you should have already received a new card.

After you’ve activated your new card, there’s no reason to keep your old card, and you should destroy it. That’s because your old card still has your account number on it, which could help someone to make a fraudulent transaction with your account (though rest assured in this case there’s always the option to dispute a credit card charge).

What to Do When the New Card Arrives

When you receive a new copy of your credit card in the mail, you might be surprised. You may have been unaware that your existing credit card was set to expire in the next month or two.

But once you’ve received your new credit card with the updated expiration date, there’s no reason to continue to use your old card. You can simply activate your new credit card, and replace your old one in your wallet or purse. Your new credit card should have the same terms, including the credit card APR and credit limit.

Once your new card is activated, it’s best to destroy your old card. You can destroy your plastic cards by cutting them up with scissors or by using a shredding machine that’s designed for destroying plastic cards. If you have a metal card, then the card issuer will mail you a return envelope to send the card back for destruction.

However, if you haven’t received your new card and you notice your credit card expiration date is approaching, you should contact your card issuer before your old card expires. For example, if you’ve changed mailing addresses, your new card may have been sent to your previous residence. Or, your old card may have gotten lost in the mail. Either way, you’ll want your old card replaced before it expires so that you can continue making charges to it.

Once you have your new card, you also may need to update any accounts for which you were using your old card for automatic billing every month or every year. This can include everything from newspaper and magazine subscriptions to utilities and entertainment streaming services. Doing so will ensure that your services remain uninterrupted when your old card does expire.

With your new card up and running, you’ll continue to make at least the credit card minimum payment as you’d been doing.

Looking for a new credit card?

Your credit card’s expiration date marks the last date it will still be valid for new purchases. You can find the expiry date on your credit card on either the front or the back of the card, and it will usually appear as a two-digit month followed by a two-digit year. You don’t usually have to worry about taking steps to get a new card when your old one is set to expire — the credit card issuer will usually mail you a card with a new expiration date beforehand.

For a limited time, new credit card holders† who also sign up for a SoFi Checking and Savings with direct deposit can start earning 3% cash back rewards on all eligible credit card purchases for 365 days*. Offer ends 12/31/22.

Take advantage of this offer by applying for a SoFi credit card today.

FAQ

Can I still use my credit card the month it expires?

Yes, your credit card will remain valid until the last day of the month it expires. It will no longer be valid on the first day of the following month.

Why do credit cards expire?

There are several reasons that credit cards expire. For one, the credit card expiration date serves as an additional security feature. Credit cards also expire so that card issuers can keep track of their inventory and provide customers with new cards with updated features and technology. The magnetic stripes and computer chips in credit cards also wear out, so having an expiration date allows card issuers to ensure that cards don’t fail as often. Beyond reasons of functionality, replacing credit cards also gives card issuers an opportunity to market new products and update their brand image.

Does your credit card automatically renew?

A credit card account isn’t attached to the credit card’s expiration date. The account renews every year regardless of whether the card itself expires. Card issuers also will automatically mail customers new cards within two months of their existing card’s expiration date.

Is it safe to give out your credit card number and expiry date?

For a merchant to accept credit card payments with your card not present, such as with a transaction online or over the phone, you’ll need to give your card’s number and expiration date, among other information.

While this information may be requested for certain transactions, you should never give it to a merchant you don’t trust to keep the information secure. As an added safeguard, however, the Fair Credit Billing Act of 1974 prevents the cardholder from being held responsible for fraudulent or unauthorized charges and offers the right to dispute a charge.

Do I have to pay off my credit card before it expires?

The expiration of your credit card is unrelated to your payments. You need to make the credit card minimum payment each month before your account’s due date, which is printed on your statement. This date doesn’t correlate with your credit card’s expiration date.


†SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS PROSPECTIVELY BASED ON MARKET CONDITIONS AND BORROWER ELIGIBILITY. Your eligibility for a SoFi Credit Card Account or a subsequently offered product or service is subject to the final determination by The Bank of Missouri (“TBOM”) (“Issuer”), as issuer, pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Please allow up to 30 days from the date of submission to process your application. The card offer referenced in this communication is only available to individuals who are at least 18 years of age (or of legal age in your state of residence), and who reside in the United States.

*You will need to maintain a qualifying Direct Deposit every month with SoFi Checking and Savings in order to continue to receive this promotional cash back rate. Qualifying Direct Deposits are defined as deposits from enrolled member’s employer, payroll, or benefits provider via ACH deposit. Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers not from employers) do not qualify for this promotion. A maximum of 36,000 rewards points can be earned from this limited-time offer. After the promotional period ends or once you have earned the maximum points offered by this promotion, your cash back earning rate will revert back to 2%. 36,000 rewards points are worth $360 when redeemed into SoFi Checking and Savings, SoFi Money, SoFi Invest, Crypto, SoFi Personal Loan, SoFi Private Student Loan or Student Loan Refinance and are worth $180 when redeemed as a SoFi Credit Card statement credit.

Promotion Period: The Program will be available from 10/1/22 12:01 AM ET to 12/31/22 11:59PM ET

Eligible Participants: All new members who apply and get approved for the SoFi Credit Card, open a SoFi Checking and Savings account, and set up Direct Deposit transactions (“Direct Deposit”) into their SoFi Checking and Savings account during the promotion period are eligible. All existing SoFi Credit Card members who set up Direct Deposit into a SoFi Checking & Savings account during the promotion period are eligible. All existing SoFi members who have already enrolled in Direct Deposit into a SoFi Checking & Savings account prior to the promotion period, and who apply and get approved for a SoFi Credit Card during the promotion period are eligible. Existing SoFi members who already have the SoFi Credit Card and previously set up Direct Deposit through SoFi Money or SoFi Checking & Savings are not eligible for this promotion.


1See Rewards Details at SoFi.com/card/rewards.
SoFi cardholders earn 2% unlimited cash back rewards when redeemed to save, invest, or pay down eligible SoFi debt. Cardholders earn 1% cash back rewards when redeemed for a statement credit.1
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
The SoFi Credit Card is issued by The Bank of Missouri (TBOM) (“Issuer”) pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Photo credit: iStock/mrgao
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