While banks and credit unions send out new debit cards when the old ones expire, there are other times people may need to apply for an updated card.
Debit cards are a convenient payment option for both everyday and major purchases.
But because they are such common payment methods, it is important to make sure your debit card has all the features you need.
As banks and other debit card issuers offer more competitive products comparisons and applications for new cards could become even more common, so here are some of the best reasons to ditch your card for another.
Innovations like contactless payment options make debit cards a faster payment option than before, but banks are only issuing the new MasterCard PayPass and Visa PayWave cards with new cards.
That means current cardholders may not see the benefits for years, depending on their card’s expiry date.
If you want access to contactless payments before then, you can either contact your bank and request an updated card or take the opportunity to apply for a new card linked to a more convenient account.
While all basic debit cards are the same, a lot of banks now offer premium accounts that come with even more debit card features.
The ANZ Extras package, Citibank’s Citigold debit cards and the NAB Gold Banking card, for example, all offer complimentary benefits like purchase protection, extended warranties, travel insurance and even dining benefits.
These extras can make debit cards an invaluable part of people’s money management.
Changes In Debit Card Terms And Conditions
Occasionally the terms and conditions of a debit card will change after years of use, particularly when it comes to fees.
Whether it is for foreign ATM use, international transaction fees or a higher monthly fee, these costs can quickly add up.
To avoid this kind of predicament, always read the terms and conditions when you get a statement and before applying for a card.
No matter how long you have had a debit card, there is always room for improvement. Upgrading cards to suit your needs will help make sure you always get the best deal with every application.