Should I Save My Credit Card and Bank Statements?

Should I Save My Credit Card and Bank Statements?

February 10, 2014         Written By Bill Hardekopf

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.

The information contained within this article was accurate as of February 10, 2014. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Bill Hardekopf

Bill Hardekopf is the CEO of and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
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