Why Do Credit Cards Have Expiration Dates?
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A credit card is the most convenient source of financial tools. Credit cards provide a line of credit to their users and they can use it however they want; the plus point is that spending on a credit card lets you earn rewards and benefits alongside and also shower you with amazing deals and discounts. Also, you can apply for a credit card from the comfort of your home, via online means or you can just visit the bank if you prefer to physically go and apply. However, a credit card has an expiration date mentioned on it. A fixed period indicates when a credit card must be changed. Usually, a month and a year are used to signify the expiry time. There are various explanations for why credit cards have expiration dates, including: Gradual wear and tear: Although credit cards are typically fairly durable, cards may begin to exhibit signs of damage after so many months or years of using them. They might get broken or damaged, the microchip might deteriorate, or perhaps the chip might stop