6 tips for destroying old credit cards

Whether it’s time to look for a new credit card or your current card has been compromised online, you’ll need to ditch your credit card at some point.

But getting rid of a credit card isn’t as easy as tracking down a pair of scissors. Desperate thieves will dig through trash cans if it leads to a lucrative reward: a name, a 16-digit number and an expiration date.

So, what should you do? Here are six tips to make sure your old credit card won’t come back to haunt you in the future.

Enter the function that issues your card

This is the first step for all metal card users. If you still rely on the power of traditional plastic, move on to the next tip.

Metal cards, such as Chase Sapphire Preferred® Card, Chase Sapphire Reserve® and Main Visathey are designed to last longer than regular plastic. Therefore, you may want to consider calling the 800 number on the back of the card and start the process of sending the card back to the issuer to cancel the card.

Just make sure any automatic or recurring payments are moved to another card so you don’t get distracted.

Do not burn

Never burn your credit card. Yes, a fire will melt a plastic credit card, but it can also harm your health.

Burning plastic in the oven can release hydrochloric acid, sulfur dioxide, furan and several other toxic substances that are harmful to the body.

Remove the magnet line

Moving away from the fireplace, you might consider a cooler option – demagnetizing your unwanted credit card using a magnet on your refrigerator. To do this, run a magnet along the magnetic strip on the card back and forth to make sure there is no magnet.

Destroy the EMV chip

Even with a non-magnetic stripe, you must destroy the card’s EMV chip. The chip contains sensitive personal information and data. To do this, use a hammer and smash the chip until it breaks into small pieces.

Related: When can you cancel your credit card?

Cut out the card

Your credit card can easily be used online, where someone with bad intentions won’t need to show identification. With that in mind, it’s time to get some good scissors, but it’s not as simple as cutting the card into three or four pieces.

I recommend a solid cut and dial to make any effort to put the card together. You can also use a shredder, as most can handle shredding plastic cards. If you don’t have a shredder, scissors will do.

Separate

Finally, this may sound like overkill, but I recommend separating small pieces of plastic into separate trash cans. This will ensure that even the smartest thief won’t find them all in one place. Also remember to review all of your auto-pay accounts to avoid missing any payments.

Related: How to check your credit score for free

Bottom line

Proper disposal of your old or unused card is important to protect your personal information and to ensure that no one can make unauthorized or fraudulent charges to your account. If you have a metal card that you want to dispose of, contact your issuer and let them do the work for you. If you have a plastic card, follow the tips above to dispose of it properly.

And remember, when you ditch your credit card, be sure to follow one of TPG’s golden rules: Never give up your rewards points.

Related: How to cancel a credit card