What to do with expired credit cards?

You’ve heard of up-cycling things like jam jars and wooden pallets, but the inspiration you’re after could be closer to home…like in your wallet.

How many credit or debit cards do you have on you? One? Two? Three? More? Whatever the type of plastic, you’ll be faced with an expiration date, but when that time comes, what do you do with an expired credit card? Take a look at our handy guide.

Can you throw away expired credit cards?

You should never just throw away an expired credit card as it is. It’s not uncommon for identity thieves to rummage through people’s rubbish for their old plastic, and if they hit the jackpot, you could find yourself out of pocket and with a damaged credit history.

Should you shred expired credit cards?

Yes, before you dispose of an expired credit card, you should either shred it or manually cut it into lots of tiny pieces.

A few other ways to discard your expired credit card include:

• Cut horizontally through the embossed numbers on the front of the card;
• Dismantle the magnetic strip by horizontally slicing through it;
• Hack away at the security code (on the back) so it can no longer be read;
• Diagonally chop through the security chip; and
• Make sure all your cut pieces are free from meaningful information.

Even after all that, it might still be worth sprinkling the remains into different bins to prevent persistent credit fraudsters from piecing it back together again.

How do I dispose of a metal expired credit card?

You’ve got a few options:

1. Talk to your card’s provider. Most companies who offer metal credit cards have the option to send it back in a prepaid envelope for them to destroy.
2. Try using heavy duty scissors or a shredder. There’s no guarantee they’ll pierce through your card but it’s worth giving it a go (if you have the tools).
3. If mid-weight tools don’t do the job take a more extreme approach by taking a drill or some sort of metal-cutting machine to your card.

Is it better to cancel unused credit cards or keep them?

There’s no clear-cut answer to this, we’re afraid. To help you work out what makes the most sense for your situation though, here are a few pros and cons for each:

Reasons to cancel unused cards	Reasons to keep unused cards
Lower the risk of credit fraud	Keep access to the credit in the event of an emergency
If you only just opened the account, closing it will likely have limited impact on your score.	Hold on to any existing customer deals
Less temptation to spend money you don’t have	Credit reference agencies like accounts with long, well-managed histories
Avoid paying annual fees	Spending less than 30% of your total available credit helps to boost your credit score, so long as you pay back on time.

Is it bad to have a lot of credit cards with zero balance?

If you’ve gone to the trouble of taking out a credit card, lenders do like to see you using it. While maxing out your credit limit can show an unhealthy relationship with credit, not touching your card won’t help your credit score, either – because lenders can’t see that you’re managing your credit responsibly every month.

Can you recycle expired credit cards?

For most of us, it’s simply a case of chopping the card up into tiny pieces and chucking it in the bin. If you want to go a bit greener next time one of your cards has reached its shelf life though, here are some quirky ways you can repurpose your expired credit card:

Use it as an ice scraper

Save a few quid this winter by replacing your ice scraper purchase with a recycled expired credit card. They’re pretty sturdy things, and they’ll do the job almost just as good.

Get creative

If arts and crafts are up your street, expired credit cards offer lots of creative opportunities. From multicoloured mosaics and quirky lamp shades to simpler things like guitar picks and bookmarks, there’s a whole load you could start working on.

Get your grout on

If you can’t pay someone else to do it, you don’t have the proper tools to do it yourself and you don’t want to get your fingers dirty, your expired credit card could be the next best alternative the next time you’re grouting tiles.