When your credit card thats assosiated with your paypal account, expires, the following takes place
1. You cannot pay to online merchant site.
2. You will be asked to enter new card or date of expiry.
3. There won't be any problem even if your cc has expired. You will still be verified with all the features.
4. The only thing you can't do is to pay by that cc as it has already got expired.
and even if you renew the card with the same card number and extended expiring date, it will be difficult to use it again because the automatic paypal system has already deleted the card and marked it as expired. the best is the use another credit card with different credit card number.
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