Expert advises changing bank cards every 3-5 years for security

Bank cards should be changed at least once every five years to protect money from fraudsters, said Petr Shcherbachenko, an associate professor at the Financial University under the Government of Russia.

«It is important to update bank cards regularly, every 3–5 years. There are three main reasons. First, ensuring security. It is worth noting that reissuing significantly reduces any risks associated with fraud, such as data theft,» Shcherbachenko noted.

He pointed out that an updated card has new details, number, and three-digit CVC code, which are known only to the owner. Additionally, the chip on a bank card has a limited lifespan, so reissuing helps reduce the chance of sudden failure at the point of sale.

«It is also worth noting that the development of digital technologies drives advancements in the banking sector. ATMs are being upgraded, and all cards now feature contactless payment. Thus, updating enhances customer capabilities and boosts loyalty to the bank,» Shcherbachenko concluded in an interview with NEWS.ru.

Previously, we reported that millions of Visa and Mastercard cards face potential blocking, and their servicing could become much more expensive. This is due to a bill that grants the Bank of Russia the authority to limit the validity period of plastic cards. For details, see our article.