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Most credit cards today come with robust fraud protection. If someone steals and misuses your card, many card issuers make it simple to dispute the charges and flag your account. However, that doesn't mean you should be careless. If you cancel your card or it expires, grab the scissors (or the shredder).
Shred It, Even If It’s Expired
Despite the strong protections credit card issuers offer today, you should still destroy your old cards. I confirmed this with Robert Siciliano, Identity Theft Expert and CEO of IDTheftSecurity.com. He told me:
Cutting a card renders the magnetic stripe unusable, but the card number itself, even if the expiration date has passed, may still work. Simply using a non-expired date could allow the card to go through. Therefore, cutting up the card and discarding the pieces in different locations is the safest security measure.
Just slicing the card in half won't be enough. You should ensure it’s completely destroyed. In fact, you might want to consider cutting it into fifteen pieces, as demonstrated in the video above.
Too much effort? You can try using a shredder, but make sure it’s specifically designed for the thickness of a credit card.
Remember to Destroy the Chip
Data is stored not only in the magnetic stripe but also in the chip that is now found in credit cards. That chip must also be destroyed, according to Siciliano.
Cutting the chip works in the same way as cutting the magstripe—rendering the data on it completely unusable.
You can try cutting the chip, but Creditcards.com recommends smashing it with a hammer, which seems a lot more entertaining.
If You Have a Chase Card, You Can Send It Back
Cutting up your credit card sounds like a good idea—until you try cutting a Chase credit card. If you own a Chase Sapphire card, you'll know they're nearly impossible to cut with regular scissors, as they are made of metal. Even a typical shredder won't do the job.
The good news is that Chase will send you a prepaid envelope to return it. When my card expired, they sent me one automatically along with the new card. If you cancel it or don't receive one with a new card, simply call the number on the back and request an envelope. Once they get the card back, they destroy it. As one reader on The Points Guy forum points out, you can also visit a Chase branch and hand it over directly.
In summary, it's still important to destroy your credit cards, even with the fraud protection many companies now provide. Your card contains identifiable information, and even if it's expired, criminals could potentially use that data. Cut the card into pieces and, for added security, dispose of them in different trash cans.
