Your monthly statement appears like clockwork
in your mailbox. But since you’ve set up the account
to be paid by bank draft, you find that you seldom even open
the envelope. There are some driving reasons to carefully
go over every statement that arrives.
Arguably, the most important information on your monthly
credit card statements will be a breakdown of what you spent
that month. Unexplained expenses may be the first clue that
you’ve become a victim of identity theft. It may also
be the first clue that you’re overspending and need
to be more conscious of your purchases.
Your statement will include some basic information about
your account. Your spending limit, balance
owed, current Interest rate and date due. All those things
are subject to change and reading the statement is the only
way you’re going to know if that happens. With credit
cards or other open-end
accounts, an increase in your spending limit may be a
big bonus that you won’t even know you have if you don’t
check your statement.
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