Should I Save My Credit Card and Bank Statements?
In today’s digital world, a significant number of people receive e-statements for their credit card and bank accounts. They rarely see a paper statement, and assume these records will always be available online.
But computers do mess up, systems crash, and data is sometimes lost. The chances of that happening may be rare, but it is a possibility.
No one wants to keep bulky stacks of paper when you can do so digitally. But it is advisable to keep digital records in case there are questions down the road.
You have a couple of options:
- You could create a separate email address and have your statements sent to that address. Then, store them in an email folder.
- Another idea is to download the statements and put them on an external hard drive.
Something you may want to keep is a hard copy of your credit cardholder agreement. This is the contract you sign before you get your card. Most credit card companies have clauses in their agreements that say the terms may be subject to change, so you should keep an updated copy of this agreement each year.
Don’t trust the digital world to keep your important files. Have a digital backup for any of your financial statements. Take the initiative to set this up in order to protect yourself.