How long should you keep credit card statements?

You generally don’t need to keep your credit card statements, as card issuers allow you to download them from your online account. If you want a little more security, you can keep credit card statements for 30-60 days. This way you can confirm that your payment was received and that there were no issues with the charges.

There are, however, situations where your card issuer’s records don’t go back far enough or where it just makes sense to keep a credit card statement. If any of the following statements are true, consider keeping your statement for now.

If you charged business expenses or any other tax deductions to your credit card, keep this billing statement and any associated receipts for seven years. The IRS can audit your tax return for up to six years. By keeping tax documents for seven years, you protect yourself in the event of an audit.

It contains a purchase eligible for extended warranty coverage

Some of the best credit cards extend the length of the manufacturer’s warranty on qualifying items. In this case, you must keep the declaration with the purchase record until the end of the extended warranty period.

For example, suppose your credit card adds one year to the original four-year manufacturer’s warranty. To use extended warranty benefits, you may be required to provide proof of original purchase. This means you’ll need to keep the statement and receipt for five years, assuming your card issuer’s records don’t go back that far.

It contains a transaction eligible for Purchase Protection or Return Protection

You may want to keep a record if your card has purchase protection or return protection that applies to any of the transactions. These protections typically last 60-90 days, so you can likely get the statement with the purchase from your card issuer’s records. But saving the instruction makes it a bit easier, because you won’t have to search for it later.

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