I've had a single credit card for the past 8 years, and no other credit history. When I checked my score, it was suggested that more credit cards (and a store card) would improve my credit score (not to mention utility). So I'm applying for more cards. I want to spread out my expiration dates, so I always have a card that doesn't expire for the next 6 months (<i>shouldn't</i> make a difference, but there have been times in the past this would have come in handy.) My credit & debit cards have two-year renewals, and I assumed that was fairly standard. I then applied and got a Chase card that expires in three years. What is the most common time between expiration dates?
Anyway, what brought this up...I would like to get a Shell card, and if I apply by 09/28 I can get a $25 gas card if I buy 100 gallons within 90 days. Even though it isn't as important with a gas card, I don't want another card that expires in September. If I apply on the 28th, is the card most likely to have an October expiration date? Do credit cards usually expire in the same month (different year, of course) you recieve the credit card? That is what happened with the Chase card, and I can't remember what month I recieved my older credit card.
Anything else anyone wants to say about credit card expiration dates?
I have one that is up after 2 and other has been expiring every 3 - who knows, maybe some go longer than that. I have always received a replacement quickly though. It is good not to rely on the mail or a mailing department, but I wouldn't worry too much with overlapping expirations.
Enjoy your new card!
PS. No need to apply for more than a store card, 2 major credit cards and a store card should be enough for scoring purposes and each additional account past that will likely lower your score because your average age is going to be reduced and you will take a 1 year hit for inquiries and new credit. Don't worry about 2 new accounts, in the long run it will enable your score to reach even higher.
My Kinecta FCU CC's are 2 years while Capitol One is 3 years. I think my Discover Card was 3 years also.
Some of my cards have expired in the same month that I received it from. They usually send the new card towards the beginnig of the month and the old one expires at the end of the month unless you activate the new one first. Now my new Capitol One MC was given to me in Sept and expires in October. It was the first card that actually had a valid from this date to this date printed on the card. Usually they print just the expiration date.
9/2017 FICO8: EQ:585, TU:549, EX:580 | No opened accounts | 1 unpaid CO, 1 paid CO + related Col | several lates 2.5+ yrs ago Current FICO8: EQ:703, TU:671, EX:671 | CC Util 2.5% | 2 paid CO + 1 related Col (deleted on EQ) | 3x 30 day lates 3-6yrs ago AAoA: 10 to 11 years; Opened Acc Only: 6 months Credit Length: 20 years INQ (Eq/Tu/Ex): 2 / 4 (4 for auto) / 6 (5 for auto) In 7 months, all serious derogatories fall off.
The reason I'm wanting to have staggered expiration dates is because once I placed an online pre-order, and my credit card expired before the items came in. I called to try to update the expiration date, but was told it wasn't necessary. When the items did finally come in, my order was cancelled because the credit card had expired. I did eventually get my order, and it shouldn't have been as much of a problem as it was, but since then I've used my debit card for similar purchases when my credit card is close to expiration.
Anyway, thanks for the info. I was trying to spread out the credit cards by year instead of just month, but the Chase card kinda messed that plan up. If there is quite a bit of variation on the number of years a card is good, I suppose that it isn't something worth worrying about, anyway.
If you get a card in January 2008 that expires in January 2011, you can call in January 2010 and get a new card with a new expiration date. It's not like you have to wait until the day it expires, order a new one, and go without a card while the card is mailed to you.