Do You Have Reservations About Trading Credit Cards?

You might have some personal reservations when it comes to trading modern credit cards which are hampering your progress as a collector. For example, it’s possible that you have been accumulating your personal credit card collection for quite some time, but since it’s all in your name, you’re reluctant for your cards to go to other collectors.

You might be apprehensive about the legal implications of trading credit cards. You might think that the credit card number and your signature at the back of the card might be used in criminal activities.

Of course, you cannot be too cautious and it’s reasonable to feel like this. However, there are some precautions you can take to prevent some of those possible problems.

Keeping credit cards pristine

A universal method of cancelling credit cards could be interesting. Unfortunately, I don’t know what it would be. Remember, any method that we accept today that would alter the original condition of a card doesn’t mean that collectors five years down the road would accept it.

This would then leave us early collectors with nothing but mutilated cards that no one would be interested in. At this time, I’m a firm believer that cards must be left in their original condition.

Also remember, the fear of what happens to a credit card is the reason most cards are destroyed, thus giving us our many rarities and current opportunities. Here are the rules I follow when I trade credit cards:

  1. Only trade duplicate cards. When it’s a single, once it’s gone you might never get another one.
  2. Only trade expired cards on closed accounts.
  3. Build a reputation of being a fair and honest trader. This is extremely important – word will spread.

Worried about your signature?

If you’re only trading expired cards on closed accounts then I don’t think your signature is of any value. Personally, I don’t sign my credit cards.

In the out of print book, “There’s More to Credit Cards Than Meets the Eye” by 275-52-3902 and 302-52-9965 (I’m not kidding, those are the authors); they have something to say about signing cards:

“Do not sign your cards if possible. Doing this will make the credit card companies grit their teeth. If you notice, the first thing they tell you to do is sign the card “for your protection”.

Disadvantages of signing your card

275-52-3902 and 302-52-9965 go on to say that, ““For your protection” is one of those vague areas that requires examination. When you sign your name to your credit card prior to use, you provide every opportunity for thieves to forge your signature elsewhere, such as on bank slips.

“When forged slips reach the bank, it’s nearly impossible (nor to their advantage) for tellers to discern the difference. You may have a hard time proving that in actuality, it is not your signature. What is worse, you might have to prove it in court.

“The chances of a thief forging your signature when it’s not on the card is almost nil. If the signature of the thief does not match yours, the bank cannot attempt to hold you responsible. The sad fact remains that given the slightest reason, the banks will attempt to sue you for payment.”

One of the authors learned that lesson from personal experience. It was also one of the reasons the book was written!

Copyright 1986 by Greg Tunks

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Frequently asked questions

You can find out the value of old credit cards by checking how much similar cards sell for. There are several ways to do this.

The simplest way to determine the value of old credit cards is to ask an experienced collector. If you submit an inquiry via our contact form, we can connect you with an expert who can assist you and point out if there is anything rare or unusual in your collection.

Alternatively, you can become a member of the American Credit Card Collectors Society. Membership in our credit card collecting club provides access to resources and knowledgeable members who can help. Benefits of membership include access to a gallery containing thousands of cards with historical pricing information, and access to our entire collection of newsletters, from 1994 through the present day.

You can look at recent sales on auction sites, however, there are some considerations to keep in mind when doing this. Firstly, it’s important to look at selling prices, rather than asking prices. Selling prices are the prices people actually paid, while asking prices can be very different. Secondly, historical sales on some sites are only saved for 3 months, so you may not find something that exactly matches what you have. Thirdly, it is sometimes possible to see rare or unusual cards sell for lower prices than they should have because people do not understand their worth, the ads don't do justice to the card, they're listed in the wrong category, or any combination thereof.

There are always people in our club who are actively buying cards. Collectors tend to focus on a niche, like gas cards or retail cards, or they might focus on a slightly broader area, like bank cards or travel and entertainment cards. Many of the rarest or most unusual cards will exchange hands in private sales. Please contact us if you are thinking of selling your collection.

You can also sell your old credit cards on online marketplaces. You will get the highest price if you sell each of your cards individually, although this approach requires the most effort. At the opposite end of the effort scale would be selling all cards as a job lot, an approach which typically results in the lowest price on a per-card basis. Halfway between these two approaches would be to group cards into different categories and to sell these individual groups, e.g., BankAmericard, Master Charge, oil and gas, retail, and so on.

To join the club, visit the membership section and complete the registration form. You can pay by check or PayPal. We offer annual or lifetime memberships. If you have any questions please contact us via the form on our website.

Credit cards are more worthwhile collecting if they are rare, in good condition, have historical significance, or are associated with famous personalities or events. Valuable modern cards might include those that are difficult to obtain, such as American Express Centurion (a.k.a. ‘black’) cards, while older credit cards might include early independent bank cards, American Express, Diners Club, or BankAmericard (Visa) cards from the 50s/early 60s, or Master Charge (MasterCard) cards from the late 60s. Rare or unusual cards can also be sought after, such as those issued in small numbers, like small independent department stores or gas stations, or cards with appealing aesthetics.

Consulting with other collectors or experts in the club can provide valuable insights. Contact us for more information via the form on our website.

We do not offer an appraisal service in a traditional sense (such services are normally a paid service) but we can connect you with an expert who should be able to assist for free and point out anything rare or unusual in your collection. The simplest way to do this is to submit an inquiry via our contact form.

The American Credit Card Collectors Society accepts donations and is most grateful for any we receive. When donations happen, we strive to find good homes for cards where they will be looked after, matching cards with collectors who will appreciate them. The club may charge members a nominal fee for donated cards, and the proceeds are offset against the running costs of our club. We are a non-profit organization. Running costs include expenses like our convention and website hosting. Donations are most popular for people getting out of the hobby, or when someone has inherited a collection and doesn’t know what to do with it.

If you wish to donate your collection, please contact us via the contact form above.

American Credit Card Collectors Society