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There are many different reasons why credit cards expire. One of the reasons why they have and expiration date on them is because of fraud protection. That way there if you loose your credit card when it is close to the expiration date the one that finds it will not be able to receive a new card without knowing all of the security questions that the companies ask you when you are requesting a new card.

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Another reason the credit cards have an expiration date is because the magnetic strip on the back of the credit cards does go bad after a certain amount of time. That is the main reason why they have an expiration date on the credit cards. Some people think that the expiration date is placed on the credit card because the plastic goes bad. That is not the case because plastic does not go bad the magnetic strip is the one item on the credit card that does go bad after time.

Credit card and even more so Store card interest are set at exorbitant rates for one reason alone, companies make their money from the consumer’s inability to settle their card balances. Credit card debt is unsecured, whereas other debt like your mortgage is secured (your home acts as security against your debt). With credit card debt, there is no backing security, which means that credit card debt is high risk for banks and hence the high interest rates

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The reason for an expiration date on the credit cards will differ with all of the credit card companies because they all have different reasons. Some will say that when the card expires it is another security feature that they have in place for their customers. Some say that with all the electronic transactions that are being done there is no need for an expiration date. There are many reasons why some credit card companies will say that there is no need for the expiration date on a credit card, but they all have a credit card expiration date placed on it so that you are going to receive a new card every two to four years. The amount of time on a credit card will all depend on the company that you have your credit card thru.

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However, you probably feel better about having an expiration date placed on your credit cards so that no one is able to take your credit card that is expired and use it on anything that they may want. So when all of your old credit card is about to expire it is a good idea for you to cut up the old credit card so that there is no way for some one to get a hold of and steal your identity. That is always a good reason to make sure that you are destroying all of the old credit cards that have expired and even the ones that you are not using any more.

Credit card debt and consumer credit counseling can help lower credit card debt, student loans, and unsecured debt. Get free consolidation and counseling quotes Credit Advice and Resources Credit information and tips to help you find the best deals on credit cards, credit reports, manage your debt, and control your finances. .income tax attorney

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Rachel Nava recommends Find Credit Cards for comparing different First Premier credit cards.

PWC found that many borrowers are simply moving their debt when the introductory offer expires. called "rate tarts" avoid paying any interest and therefore deprive credit card firms of their major income stream. As a result of this report many credit card companies may now rethink their advertising strategies or decline to offer credit cards to certain borrowers. DeHavilland Information Services

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