How often you should check your credit card statement

Quick insights

• Regularly checking your credit card statement can help you spot potential errors, keep a budget, track spending and manage your finances.
• Credit card statements can be accessed through various means, including online banking, mobile apps and physical mail.
• Reviewing your credit card statement at least once a month can lead to healthier financial habits that might help you improve your credit profile.

While reading your credit card statement can sometimes feel like a hassle, regular reviews are an important way to spot errors, manage spending and take better control of your finances. By understanding the nuances of each transaction and keeping tabs on your financial activities, you may be able to help safeguard your credit score and cultivate healthier financial habits.

The importance of checking your credit card statement

Reviewing your credit card statement each month can help you spot unauthorized charges or billing errors. This early detection can help you dispute suspicious charges in a timely manner, potentially preventing you from paying for transactions you did not make.

Checking your statement allows you to track your spending and to see if it aligns with your budget. This can help you avoid overspending and keep your finances in check. Regular reviews can also help you understand your spending habits. By identifying patterns in your spending, you can pinpoint areas where you can cut back or need to allocate more resources.

By regularly checking your statement you can potentially avoid late payments by reminding yourself of your due date and the minimum payment due. It can also help you understand how interest charges are applied to any carried balance.

Where to find your credit card statement

There are a number of ways to find and review your credit card statement. These include the following:

• Most credit card issuers, including Chase, offer online access to your credit card statement. This provides a convenient and eco-friendly way to review your transactions.
• You can access your statement through your credit card’s mobile app, if available. This can allow you to check your statement anytime, anywhere, right from your smartphone.
• If you prefer a physical copy, you can request to have your statement mailed to you. This option can be helpful for those who prefer a tangible record of their transactions. If you need help switching to physical statements, you can check your lender’s app or website or call the customer support number on the back of your card.

How often should you check your credit card statement?

It can be helpful to check your credit card statement once a month. By aligning your review with your monthly billing cycle, you can review all credit card transactions within the period before making your payment.

You can also login to your credit card account at any time to review your spending before your monthly statement is issued. This could help you to stay on top of your spending and spot potential errors more quickly. 

Tips for effective credit card statement review

While there is not a single “best” strategy for reviewing your credit card statement, here are some tips that can help make this process easier and more helpful:

• Schedule:Consider setting a regular schedule for reviewing your statement. Having a set schedule can help ensure you don't forget to check your statement.
• Transactions:You may want to start your review by checking the list of transactions. Look at all charges listed and confirm that they are ones you've made. Look for unfamiliar transactions, as these could be signs of unauthorized charges or fraud.
• Errors:If you spot any errors or unauthorized charges on your statement, contact your credit card issuer immediately. The sooner you report these issues to your credit card company and the credit bureaus, the sooner they can be resolved.
• Credit limit:Review your credit limit and available credit. Understanding how much of your credit you’ve used can be helpful for budgeting, and if you're close to maxing out your credit limit, it might be time to revise your budget or spending.
• Fees and interest:Review interest and credit card fees charged on your account, including annual fees, late fees or foreign transaction fees. If these charges seem incorrect, contact your credit card issuer.
• Due date:Look at your payment due date and make sure you're prepared to make at least the minimum payment by this date. Late payments can result in fees and negative impacts on your credit score. Setting up automatic payments can be a helpful tool for avoiding late fees and helping to build or improve your credit.
• Alerts:Consider setting up email or text alerts for your credit card transactions. This can help you stay on top of your spending and spot any unauthorized charges more quickly.
• Apps:Consider using a budgeting app or tool that can connect to your credit card account. These tools can categorize your spending and help you track it more easily.

Remember that reviewing your credit card statement is an important part of managing your finances. It's not just about checking for errors or fraud, but also about understanding your spending habits and making sure you're using your credit responsibly.

The bottom line

Regularly checking your credit card statement can lead to better financial habits and improved credit management. It promotes financial awareness and responsibility, helping you maintain control over your finances. By understanding your spending habits and spotting errors or fraud, you can take proactive steps towards improving your financial health.