Credit card delinquencies surged more than 50% last year, bringing the total consumer debt to $17.5 trillion. Our viewer, Julie, sent an email saying, “I have a pile of old credit cards sitting around and have been wondering what I can do with them. Any suggestions?” Once your credit or debit card has expired and you get a new one… here’s what you should be doing with the old card:Let’s talk about the magnetic strip on the back.
If your card has a chip in the middle, you can either smash it with a hammer or just make sure to cut it apart with the scissors.Toss the pieces in more than one trash bag. For metal cards, you can cut it up with metal shears but the best way to dispose of it is to mail it back to the card issuer. Usually, when they send you a new card, they’ll send a prepaid mailing envelope to mail back the old one. You can also call and request a prepaid envelope from the company.