How to Dispose of a Credit Card: 6 Steps (with Pictures) - wikiHow (2024)

FAQs

How do you properly dispose of a credit card? ›

Make sure to cut through the magnetic stripe, chip and any embossed information on the card (such as your name and credit card number). Dispose of the pieces in different trash bags or containers to add an extra layer of security.

You can buy a shredder or visit an office supplier store to use shredding services for a small fee. Shredding old credit card statements (and other important financial documents) is crucial for protecting account numbers, names, addresses and especially Social Security numbers.

It's best to cut your card into pieces, making sure to cut through the chip and magnetic strip and put the card in with your normal waste, rather than your recycling.

“We recommend that consumers cut through the EMV chip, then further cut the card a few times along the short side, and dispose of the sections in more than one trash bag,” says Sarah Grano, a spokeswoman for the American Bankers Association. Or feed plastic cards into a paper shredder designed to handle them.

If you're not keen on the manual method, try your paper shredder. Many modern shredders have a small slot for payment card destruction. Ideally, use a cross-cutting shredder, but any type works. As with manually cut cards, dispose of your expired credit card confetti in a few different places for extra security.

In general, you should be able to close your account by calling the credit card company and following up with a written notice. If you still have a balance when you close your account, you are required to pay off any balance on schedule. The card company is allowed to charge interest on the amount you still owe.

Cutting up confidential documents with scissors or tearing them by hand is a cheap and easy way to destroy important papers without a shredder. You can also use a hole punch to make printed words and numbers unreadable, such as bank account numbers and addresses.

Yes, you should shred 20-year-old bank statements. They're well beyond the recommended retention period of 3-7 years for tax and audit purposes. Shredding ensures your personal and financial information remains confidential, protecting against potential identity theft or fraud.

The best way to properly dispose of documents that contain your personal information is to shred them before discarding them. If you don't own a paper shredder, check for community shredding events near you or ask about AAA Shred Events at your local branch.

Because even though the credit card number and expiration date changes when you receive a new or replacement card, your name and the account number remains the same. Hackers and ID thieves know this–they also have the skills necessary to gain access to your account by using your old credit card.

Is it safe to throw away credit card offers? ›

Junk mail comes in every day. Unfortunately, with so many data sources available to companies, your personal data may be included in those garbage mailers and credit card offers. Don't toss the junk mail in the trash bin; shred it.

It's imperative these devices be securely destroyed by a powerful shredder used by reputable companies that can provide you with a certificate of destruction for each unit touched.

To render your expired or damaged debit card unusable, start by cutting it into several pieces. Use a pair of scissors or a sharp object to carefully cut through the magnetic strip, chip, and embossed numbers on the card. Make sure to cut through the card in multiple places to destroy its integrity.

1. Pay off your balance every month. Avoid paying interest on your credit card purchases by paying the full balance each billing cycle. Resist the temptation to spend more than you can pay for any given month, and you'll enjoy the benefits of using a credit card without interest charges.

Most payment cards are made from PVC, which isn't biodegradable and takes more than 400 years to break down. Bank cards typically also contain a metal magnetic strip which means they need specialist recycling.

Can You Recycle Credit Cards? Without question, you should destroy cards and throw them away; do not recycle them. While recycling a card would mean it doesn't go to a landfill, it would instead go to a plant where it would be placed onto a conveyor belt and sorted by human hands.

To render your expired or damaged debit card unusable, start by cutting it into several pieces. Use a pair of scissors or a sharp object to carefully cut through the magnetic strip, chip, and embossed numbers on the card. Make sure to cut through the card in multiple places to destroy its integrity.

Closing a credit card account can negatively impact your credit, though how much it hurts your score depends on your credit history. Factors like how many other accounts you have open, how long you've had the accounts and the balances can all play a role.