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J

J

Level 7

25 Jun 2020

Do you check your credit card bills to ensure that you're billed correctly?

Just curious, do most people check their monthly cc bills to ensure that you're charged correctly (e.g. money refunded to you by merchant is reflected, the money spent is indeed correct) before paying your monthly cc bills?

Generally, I don't check as I would assume that the bank wouldn't charge me inaccurately. But I'm not sure if i should actually be diligently checking?

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    Discussion (6)

    What are your thoughts?

    Cedric Jamie Soh

    Cedric Jamie Soh

    17 Jun 2020

    Level 12·Director at Seniorcare.com.sg

    No, i can't be bother to check.

    Is there error or extra billing like "annual fees"? of course there is potential of problems.

    but my time is valuable. so leave it as it is, because I don't have the luxury to check all my statements and spending.

    my wife does check every card, every month. she likes to check.

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      Personally, I would glance through the statement and look out for things that are out of the norm. Like, the vendor name is very weird or you know, is not among those you regularly shop at.

      Unless you are really short on time, i would highly recommend you check. Spend a good 15 minutes or so every month to look through and jog your memory on the various transactions. Of course you don't need to be exact on the amount spent. I always aga aga.

      You can assume the bank to do its job. But banks do slip up sometimes and when they do slip up, you cannot fault them as they would say in their statement, please raise disputes within 7 days. I rather be on the safe side sometimes. Might even save more time.

      Cheers

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        Unless you have 100 over transactions per month, I think it doesnt take long to scroll through your ...

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