Poll

Do you keep your credit card statements?

I keep physical statements.
5 (25%)
I keep digital statements.
4 (20%)
I don't keep them at all.
11 (55%)

Total Members Voted: 20

Author Topic: Do you keep your credit card statements?  (Read 767 times)

Offline Thingywingy

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Do you keep your credit card statements?
« on: August 27, 2017, 12:24:43 AM »
My practice has been to keep all statements for about 2 years in their physical form. I'm thinking about switching to just keeping digital copies. The CC companies let you check previous statements going back considerably. Is there any reason why that's not enough?
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Offline ludmila

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Re: Do you keep your credit card statements?
« Reply #1 on: August 27, 2017, 02:03:10 PM »
My practice has been to keep all statements for about 2 years in their physical form. I'm thinking about switching to just keeping digital copies. The CC companies let you check previous statements going back considerably. Is there any reason why that's not enough?
I used to, not any more, I think digital is good enough.
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Offline yochiek93

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Re: Do you keep your credit card statements?
« Reply #2 on: August 27, 2017, 03:01:58 PM »
My practice has been to keep all statements for about 2 years in their physical form. I'm thinking about switching to just keeping digital copies. The CC companies let you check previous statements going back considerably. Is there any reason why that's not enough?
What was your reasoning to keep the physical copies
If needed you can always request another copy.

Offline Yammer

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Re: Do you keep your credit card statements?
« Reply #3 on: August 27, 2017, 03:12:52 PM »
My practice has been to keep all statements for about 2 years in their physical form. I'm thinking about switching to just keeping digital copies. The CC companies let you check previous statements going back considerably. Is there any reason why that's not enough?
I used to keep 3 years, now I just downloaded em. You usually get between 18-24 months availablity I believe

Offline Thingywingy

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Re: Do you keep your credit card statements?
« Reply #4 on: August 27, 2017, 05:56:13 PM »
What was your reasoning to keep the physical copies
If needed you can always request another copy.
so you keep digital copies or nothing?
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Offline SrulyS

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Re: Do you keep your credit card statements?
« Reply #5 on: August 27, 2017, 09:14:57 PM »
I've been keeping physical statements for most of my cards (most are only months old). If you have over a dozen cards and you need to look them up come tax season then it's a lot easier to already have physical statements.


Keep in mind that with some banks if you cancel a card it becomes harder to request statements.

Chase requires you to fax in a bunch of details to a special office. I've been meaning to do this for one of my cards but I've already forgotten what to send and where to send it.

Offline churnbabychurn

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Re: Do you keep your credit card statements?
« Reply #6 on: August 27, 2017, 09:23:27 PM »
I've been keeping physical statements for most of my cards (most are only months old). If you have over a dozen cards and you need to look them up come tax season then it's a lot easier to already have physical statements.


Keep in mind that with some banks if you cancel a card it becomes harder to request statements.

Chase requires you to fax in a bunch of details to a special office. I've been meaning to do this for one of my cards but I've already forgotten what to send and where to send it.
The only tax item would be interested expense for business cards. - do cc give any year end summary? I know Amex has something online.

Offline aygart

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Re: Do you keep your credit card statements?
« Reply #7 on: August 27, 2017, 09:26:53 PM »
The only tax item would be interested expense for business cards. - do cc give any year end summary? I know Amex has something online.
Why? There are so many potentially deductible items which may have been charged to a credit card. Certainly business expenses, but also items like charity and medical expenses deductible on personal returns.
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Offline yelped

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Re: Do you keep your credit card statements?
« Reply #8 on: August 27, 2017, 09:27:51 PM »
The only tax item would be interested expense for business cards. - do cc give any year end summary? I know Amex has something online.
There are deductible expenses that could be paid with CC. Health bills, Charity, Purchases for Rental property etc.

Offline SrulyS

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Re: Do you keep your credit card statements?
« Reply #9 on: August 27, 2017, 09:28:10 PM »
The only tax item would be interested expense for business cards. - do cc give any year end summary? I know Amex has something online.
For most people. But if you are constantly trying to meet signup bonuses and you put various business expenses on all your cards.. I personally want to make sure not to miss any expenses so I will browse through many statements.

Offline churnbabychurn

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Re: Do you keep your credit card statements?
« Reply #10 on: August 27, 2017, 10:19:32 PM »
I hear.. I would use mint for something like that

For companies I actually recommend to have all personal cc auto linked and downloaded to QB to be able to book business transactions easily...

Offline ChaimMoskowitz

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Re: Do you keep your credit card statements?
« Reply #11 on: August 27, 2017, 11:32:23 PM »
The CC companies let you check previous statements going back considerably. Is there any reason why that's not enough?
Try to access them when they close your account.
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Offline Work-for-ur-muny

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Re: Do you keep your credit card statements?
« Reply #12 on: August 27, 2017, 11:45:56 PM »
The only tax item would be interested expense for business cards. - do cc give any year end summary? I know Amex has something online.
Every year I get an email with a link to download such a summary for my Chase Freedom card. It's a very comprehensive and nicely laid out summary that they give.

Offline ludmila

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Re: Do you keep your credit card statements?
« Reply #13 on: August 28, 2017, 11:18:41 AM »
I hear.. I would use mint for something like that

For companies I actually recommend to have all personal cc auto linked and downloaded to QB to be able to book business transactions easily...
Sound advice, thanks.
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Offline myi

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Re: Do you keep your credit card statements?
« Reply #14 on: September 12, 2017, 07:36:21 AM »
Better question how many people save every receipt whether online or instore and match up the receipts to the statement?
And files them away?
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