Why Cards lifespan is being reduced

[asahi]

cards used to have 7 years of life span in-terms of expiration(expiry date) , now almost all new cards irrespective of bank or type(CC,DC), I’m getting only 5 years of lifespan. If I remember correctly cards used have more than 7 years of life span especially debit cards(maybe before 2015**). Why they’re reducing the life span
Ex: my icici old DC has 7 years lifespan whereas new one got only 5 so does almost all my cc’s issued recently

 

[BVCBVC is verified member.]

cards used to have 7 years of life span in-terms of expiration(expiry date) , now almost all new cards irrespective of bank or type(CC,DC), I’m getting only 5 years of lifespan. If I remember correctly cards used have more than 7 years of life span especially debit cards(maybe before 2015**). Why they’re reducing the life span
Ex: my icici old DC has 7 years lifespan whereas new one got only 5 so does almost all my cc’s issued recently

Because of decreasing life span and heavy usage(wear and tear). To prevent frauds and to keep changing the details. Lots of reasons.

Compare the usage these days with the old days usage.

 

[aayusharyan]

Because of decreasing life span and heavy usage(wear and tear). To prevent frauds and to keep changing the details. Lots of reasons.

Compare the usage these days with the old days usage.

From my recent experience. my ICICI Rubyx dual was supposed to expire in Oct. But sneaky ICICI people didn:t send a new card. They just updated the Expiry date of the same card number and everything. My card works perfectly fine.

 

[Deleted member 21942]

From my recent experience. my ICICI Rubyx dual was supposed to expire in Oct. But sneaky ICICI people didn:t send a new card. They just updated the Expiry date of the same card number and everything. My card works perfectly fine.

Even SBI cards do the same by keeping the same credit card number after card expiry. They just update date and CVV.

 

[shrewdoc]

I got many cards this year, be it debit or credit, all have expiry of 7 years from the month of issue.

 

[aayusharyan]

Even SBI cards do the same by keeping the same credit card number after card expiry. They just update date and CVV.

icici didn:t update the CVV even. lol

 

[shrewdoc]

To prevent frauds and to keep changing the details. Lots of reasons.

Actually tokenisation made it possible to prolong the lifespan. Now you only get automatic replacements on fraud transactions or accidental loss. Don't think we need new details everytime. Just the same number with a different expiry is sufficient enough.

 

[asahi]

How many years they extended

From my recent experience. my ICICI Rubyx dual was supposed to expire in Oct. But sneaky ICICI people didn:t send a new card. They just updated the Expiry date of the same card number and everything. My card works perfectly fine.

 

[souvikr]

From my recent experience. my ICICI Rubyx dual was supposed to expire in Oct. But sneaky ICICI people didn:t send a new card. They just updated the Expiry date of the same card number and everything. My card works perfectly fine.

Did you get a new card with same card number or they communicated the new expiry date through sms/email?

 

[asahi]

I got many cards this year, be it debit or credit, all have expiry of 7 years from the month of issue.

Which banks, for me both axis & icici just gave me 5 years

 

[aayusharyan]

How many years they extended

Seven . . .

 

[aayusharyan]

Did you get a new card with same card number or they communicated the new expiry date through sms/email?

lol, no new card, no communication in my case (Atleast no email, I was travelling, so maybe I missed the SMS)

 

[souvikr]

lol, no new card, no communication in my case (Atleast no email, I was travelling, so maybe I missed the SMS)

Then how did you know the new expiry date?

 

[asahi]

Seven . . .

Then why 5 for me, just 2 days back i got the card, but only 5 years

 

[shrewdoc]

Which banks, for me both axis & icici just gave me 5 years

ICICI, HDFC, PNB, UBOI All 7 years

 

[aayusharyan]

Then why 5 for me, just 2 days back i got the card, but only 5 years

They think you will break the card. lol. /s

 

[shrewdoc]

Then how did you know the new expiry date?

iMobile
+ 3 words

 

[asahi]

Then how did you know the new expiry date?

Even i wanna know, will they send new cards with updated expiration date & Cvv with same card numbers. Or just it only reflects in virtual card without new physical card. It may work for icici coz we can access virtual cards, but sbi we can’t access virtual card so how they’ll do it?@RAMDV

 

[aayusharyan]

Then how did you know the new expiry date?

I checked the iMobile App. Because I thought that they issued a new card, and would be in transit so to check the card details.
Then I found, it:s the same card with new expiry.

 

[BVCBVC is verified member.]

ICICI, HDFC, PNB, UBOI All 7 years

PNB, HDFC I got for 5 years and UBOI I got for 4 years only.

So depends on cards and variants.