Credit Card Safety how to Check your Statements

We use credit cards almost everyday to make purchases and to pay bills. There are many benefits to owning them. First, they are convenient to use. Second, unlike cash, they offer some protection against loss or theft. They can help you establish credit for future major purchases like a house or a car.

But, along with the benefits; come the responsibilities. You have the responsibility to make sure that all the charges on your monthly statement are correct and also the responsibility to report lost or stolen cards immediately. You are also responsible for at making the monthly minimum charge each month.

To prepare for your review of your monthly statement; After each transaction remember to get your receipt. Check it directly after your purchase to see that it is correct. Keep all your receipts for credit card purchases in the same place A small file folder with a pocket for each month is a good way to organize them. When your statement comes in; compare the new purchases against the credit card receipts for that month. Make sure that the amounts for each purchase agrees with the receipt. Also make sure that you haven’t been charged for anything that you did not purchase.

If you find an error on your bill; contact the credit card company immediately. Follow their procedure for filing a dispute. If the amount on your bill was incorrect, make a copy of the receipt to send to the credit card company. After the credit company has been notified of an error they will begin to investigate it. While they are investigating the error; you do not have to pay for the charge that is in dispute or any finance charges attached to it until the dispute has been resolved. However, you still are responsible for the remaining charges. You should make at least the minimum monthly payment charge for this account.

To avoid fraudulent charges from being applied to your account follow these tips:

Make sure your receipts are kept in a safe place.
Have the store where you purchased the items destroy any copies of the receipt.
Report lost or stolen cards immediately.
Keep the credit cards in a safe place. It is a good idea to only carry one card at a time to reduce your loss incase your wallet is stolen
Check your bills each month for accuracy
Don’t give your credit card information out to any source that you do not know.

Remember check those statements each month.