Why do credit cards expire?

[ChicagoSux]

Seriously what's the point other than to annoy the shit out of you every 3 years to update a million online services you have tied to that card.

I'm sure 50 years ago there was some valid reason but now it probably no longer makes sense.

 

[SnottieDrippen]

Easiest way for banks to know if you died


(complete guess but maybe)

 

[danmcguire]

Good point. As the use of the limited life magnetic strip disappears the expiration date seems less necessary. I suppose it provides some fraud protection, but it is really much more than the cvv number most merchants now require you to provide?

 

[ChicagoSux]

The fact that these things self renew automatically without you having to proactively reapply makes it even more asinine. What's the point of an actual expiration then?

 

[NickleDimer]

Opportunity for the bank to change the terms of your agreement? Even though they probably can at will anyway.

 

[OldManYellsatCloud]

This thing called Google is amazing.

http://blog.credit.com/2012/07/why-do-credit-cards-have-expiration-dates-59991/

 

[RW_Prescott]

You really should have used Let Me Google That For You.

 

[ericw]

Seriously what's the point other than to annoy the shit out of you every 3 years to update a million online services you have tied to that card.

I'm sure 50 years ago there was some valid reason but now it probably no longer makes sense.

Sounds like a good idea for an App - one that automatically refreshes your card data with one entry of your new expiration date

 

[nardibynature123]

Sounds like a good idea for an App - one that automatically refreshes your card data with one entry of your new expiration date

goblestein already has it.

 

[ChicagoSux]

I'll bring this one up at my next entreprenueral club meeting.

 

[ericw]

I'll bring this one up at my next entreprenueral club meeting.

Good idea, Freddy!

 

[Mr. Wade Garrett]

I'll bring this one up at my next entreprenueral club meeting.

Just to watch Finkelweiner steal your idea AGAIN and use it to launch a multibillion dollar app.