Why do credit cards have expiration dates?

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Is this supposed to be a subtle brag thread? Get a platinum account like the rest of us you scrub

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Does the platinum card give 1.5% cash back?

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One reason credit card companies send you a new card is that the old card physically doesn't last forever. Within about three years, the magnetic stripe on your card may stop working and your card may start to delaminate. "Cards are set to expire based upon an issuer's experience with physical card wear and tear," says Gail Hurdis, communication and public affairs representative, Chase Card Services. "These dates allow the issuer to proactively replace cards on a timely basis prior to the magnetic stripe wearing out, or images becoming worn due to use." Many department stores have credit cards without expiration dates. They just send you a new card every couple of years. However, banks that issue credit cards have another, greater concern: protection against fraud. There's a limit to how much damage a person can do with a clothing store card. A crook with a bank credit card can make purchases anywhere in the world, and possibly even take out cash advances before he is stopped. That's why they need an additional measure of security. "The expiration date is used by merchants and issuers to validate that a card is open (through physical presentment at point of sale) and valid (through real-time authorizations), which also protects customers against fraud," says Hurdis. "Fraudsters can get their hands on card numbers more easily than they can expiration dates; if counterfeit cards are created and don't have a valid expiration date, the card will be declined."

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You put 130k on a CC last year? OT baller status right there

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I take advantage of every break I can get. If someone offered to lower all of your bills by 1.5% without costing you anything, I guess you wouldn’t take it then.

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