The treatments received by an expired card vary according to the preferences of their owners.
Some people just cut it in half and throw it away.
There are those who prefer to keep it as a souvenir. So, some people keep them all. One after another accumulating dozens of cards in a decade. Not bad considering that the chip contains precious metals such as nickel, copper, silver and gold! But to get 2 grams of gold, it would take about a thousand bank cards. And added to the challenge of getting this amount, there is the difficulty of isolating each molten metal with each other on the chip.
Some families choose to give them to their children to play.
None of these procedures are safe!
The best option in our opinion is to cut the expired bank card into pieces so that it results unusable and throw it into different trash bags. It is also quite common to return the expired card to the bank when you go for the new on at your bank office. That said, some banks have a recycling system, so it would be worthwhile to ask your bank if this is the case.
Security and protection
The right way to destroy your card will protect your identity. Remember that from any card, a hacker can obtain personal data for charging expenses to your account, transferring direct receipts, etc. An expired card is always useful. With your name and card number, your identity can be spoofed even if the card is no longer valid. In the magnetic strip, your personal information is stored.
Unfortunately, fraud around credit cards is booming. Identity and bank traces tracking is a growing problem despite advances in technology and security systems, so keep these tips in mind.
The expired card must be deactivated, a scissor cut is not enough if the card can be recomposed. Prefer a shredder, and destroy it as soon as it has expired or you have closed your bank account. Some shredders can destroy plastic, not just paper, they even have a credit card option.
You can also deactivate the magnetic strip by demagnetizing it with a strong magnet. To delete confidential information, continue to cut the card or shred it to hide the account number. To take into account also the special procedure with the chip, after having removed it, it is deactivated with scissors cut or a blow of hammer.
What you should not do.
Bury your bank card in the garden or burn it because it contains chemicals that are toxic. Do not confide in the little ones as it could end up in the wrong hands. Cut in two pieces leaving the name accessible, the account number, the expiry date and the CVV security code as it is the right way to ease fraude and theft.