What to do with old debit cards? These can be deactivated cards, expired cards, or cards you no longer want to use. Are you recycling your old counterparts? Many people care about these questions. This article and many related articles will send you services to answer your questions. If you have a lot of old debit cards but don’t use them all, let’s research figure out how to dispose of them properly. Are you looking for a proper way so many times? Hanfincal (hanfincal.com) can help you delve deeper into this article to know how does it work. Do not exit this page; keep your eyes on this line to learn more details.
1. What should we do with old debit cards?
You should first destroy your old debit card by cutting the card into small pieces, especially chip and security code so that no one can access the information on your card. If you don’t want to dispose of it, you could keep it in a secure location (such as a home safe) to keep it safe. Because your credit cards materials are not paper, so you should consider carefully how to discard them. Here are some ways you can take to handle your old card safely:
- Cut your cards horizontally: Cut with a strong pair of scissors, making sure to cut straight through the embossed account number on your card. Ensure the pieces cannot be reassembled or used; you can discard them. In other ways, a shredder paper machine can work to dispose of your cards into tiny pieces.
- Cut your cards vertically: Cut the top half of your card every 2 to 4 digits, then turn over and do the same with the bottom half.
- Demagnetize and cut the strip: Your card’s magnetic strip contains personal information such as your account number, card limit, address, and name. By slowly running a magnet along the strip for a few minutes, you can demagnetize it and prevent it from being used. The magnetic strip can then be cut through. Cut the strip after it has been demagnetized.
- The security code: Find your CVV number and cut it into small pieces so that it cannot be read or reassembled.
- Chip: It is on the left side of your card. This can be cut up with scissors or smashed with a hammer.
- Signature: When you cut up the card, make sure to cut up the strip on the back containing your signature so it can’t be read or copied.
Furthermore, depending on the materials of your cards, you can dispose of them in a variety of ways:
- Plastic credit cards: If your credit or debit card is plastic and has passed its expiration date, you can quickly get rid of it. Expired credit and debit cards can simply be cut up with scissors and thrown away in the trash.
- Metal credit cards: Most metal credit card companies will destroy your card if you return it to them. Suppose you’d like a prepaid envelope to mail yours back in; call the number on the back of your card.
Please note: You should avoid tossing your card in the trash because someone might find it. While no one can use the card to make purchases, they could commit identity fraud by using the personal information listed on the card or the data stored in the card’s magnetic strip. In addition, you can use a shredder paper machine to help you reach an outstanding solution.
2. What to do before you dispose of a credit card?
Take a few precautions to ensure no outstanding issues with your credit card account before disposing of it. If you want to cancel your cards altogether, you’ll need to take a few extra steps:
- Pay off any outstanding debts: This is the first step you cannot ignore. Canceling a card does not absolve you of the obligation to pay the remaining balance. Before closing the account, make sure you have paid in full, use either internet banking or cash.
- Cancel your automatic payments: One of the services of internet banking is to set automatic payment. If you have recurring payments set up on your debit card, you must cancel them for your subscriptions or memberships to remain current. After that, call your bank again and inform them that you have revoked permission for the company to make recurring transfers from your account.
- Use or banking transfer your rewards: Any credit card rewards that remain in your account after you close it will most likely be lost. Moreover, redeem your cash back or points.
- Inform other users: Any authorized cardholders on your account should know that their cards are no longer valid. It’s a good idea to suggest that they also destroy their cards and open a new one already. You can give them your new card’s address to let them know you’ll be leaving your old ones.
- Examine your bank’s app: If your debit card is stolen or you do not wish to use it, simply turn it off and contact customer service to obtain a replacement card.
- Close the account: Contact your issuer for more information. Canceling a credit card usually requires a phone call, but some issuers may allow you to do so online.
- Keep track of your bank account: When you cancel your debit card, make a note of the confirmation number and the name of the customer service representative in case you have any problems. Minimizing the chance to waste your money in some cases have trouble.
3. How to find old credit card accounts?
You also have some rights to find your old accounts. If you lose your cards or forget your cards, make every effort to take them back. This means that you take advantage of your rights reserved to use your cards again after returning them. Let’s start by reviewing your credit reports. Go to AnnualCreditReport.com, in which you can get free credit reports from all three credit bureaus (Experian, Equifax, and TransUnion). Due to the COVID-19 pandemic, which is in effect until April 20, 2022, consumers can access their credit reports free each week.
Once you have your credit reports, you can review them for old accounts that you may have forgotten about while checking for overall accuracy. If you discover that you have credit cards that you have forgotten about, you can choose to call the card issuer and request a new physical card—or do nothing at all.
So, what to do with old debit cards? It is not as simple as throwing them away; you must take them to step by step from the beginning to reduce the risk of stealing your address and other information and using it for unauthorized purposes. That is why old credit cards and other payment cards should be destroyed carefully and safely. Moreover, you are not recycling your cards as well. Above, the sound advice of Hanfincal (hanfincal.com) can assist you with this task. If you are still interested in the credit topic, here are some related articles to help you learn more.
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