Some credentials may require rotation for security compliance, or they may expire at a certain date. Once expired, the credentials may break workflows if they are not updated. Credential expiry settings aid in ensuring that credentials are updated regularly by notifying selected users that the credential is reaching it's expiry date.

Expiry date
The expiry date selected should be the UTC date that the credential will expire. Your local time may differ.
Email reminders
Emails will be sent thirty days, seven days and one day before the credential expires to alert the selected recipients that the credential needs to be updated. Each credential can have up to five recipients, and these can differ between the live and test credential.
To receive notifications about a credential approaching it's expiry date, a user must be part of the credential's team and have credential update or manage permissions.