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As an interest-bearing customer of credit cards, you may wonder how long do you keep credit-card statements? You are probably used to keeping records of your purchases and payments, such as a credit statement. Credit card statements, however, are not just records of transactions: they are also catalogs of your finances. Keeping track of all the monthly transactions that you make with your credit cards is an essential part of being responsible with your money.

It is very easy for someone who uses credit cards to get into debt. When someone has hundreds of dollars in credit card debt, keeping track of their spending can be a rather difficult task. The question of how long do you keep credit-card statements is not just about keeping track of your monthly transactions, but it is also a means of helping the credit card companies and banks figure out how much of a risk you are to them.

A credit card company receives reports on a person's spending patterns from credit agencies. These reports are called “guidance” by financial institutions because they help the banks and credit card companies to determine how risky a person is when it comes to paying off debts. The credit card companies use this information to help them determine whether or not they should issue credit to a person, and what interest rate they should charge to a person with certain credit profiles.

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Knowing how long do you keep credit-card statements? The length of time varies between individual cases, but the average is about sixty-five days. The reason this amount of time is used is because credit card companies and banks to review these statements at the end of each month. They want to know if a person will still be able to pay off debts at this time. If you miss payments, they may be more inclined to issue you more credit, which will cost them money.

It helps to have a plan when you need to know how long do you keep credit-card statements. It also helps to have a plan for the times when you aren't going to be keeping track of your own records. For example, if you have a large bill coming in, a statement won't really help you. You need to pay attention to how much money you are taking home and how much money you are spending. You can get some great advice on how long do you keep credit-card statements by getting a free online quote.

Once you have an idea of how long do you keep credit-card statements, make a list of the things you will need to track each month. This might include what you charged to the credit card, the balance of the debt, the minimum payment due and any annual fees. Keep this information somewhere that you will see it every month. If you don't have a computer in your office or bedroom, it is even better to have that information at the tip of your fingers whenever you need it. Your credit card statement is something every financial institution needs in order to give you a line of credit.

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