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Do you go through your CC bills and crosscheck?

Dr. J 25,032 3,353 October 23, 2015 at 05:09 AM
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Do you go through your CC bills and crosscheck all the charges? that is, line them up with receipts and make sure all the charges are correct?

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#2
Quote from Dr. J View Post :
Do you go through your CC bills and crosscheck all the charges? that is, line them up with receipts and make sure all the charges are correct?
Yup. How else would I discover fraudulent charges?

I download all of my data into Quicken, and match things up as I categorize. I try to do it once a week, though it usually winds up being once every other week.
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#3
Quote from mmathis View Post :
Yup. How else would I discover fraudulent charges?

I download all of my data into Quicken, and match things up as I categorize. I try to do it once a week, though it usually winds up being once every other week.
and, for the time spent, how often do you find something fraudulent vs. erroneous?
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#4
I just use Mint. It makes it pretty simple to track my 16 different accounts. I have a widget on my phone which alerts me to any huge changes and I usually take a peak once a day for unexpected charges.
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Last edited by NYExcuse October 23, 2015 at 08:16 AM
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Quote from Dr. J View Post :
and, for the time spent, how often do you find something fraudulent vs. erroneous?
In the 10+ years I've been doing it, I've found maybe a handful of fraudulent charges. Called the bank / CC company the next day, or went online right then, and got the fraud alert set up and the card replaced.
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#6
Do it all the time
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#7
Anybody who doesn't do so must not care about paying for incorrect or fraudulent charges.

I haven't found many issues, but maybe a couple a year? I have had a restaurant double charge me, credit card refunds fail to post, etc. Luckily nothing fraudulent, but had I not reviewed my statements I never would have caught the other errors.
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#8
Yes. I've experienced bars sneakily moving the decimal and claiming I wrote a certain tip amount when I approached them about it. I've also personally caught fraudulent charges myself as well.
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Quote from maramos View Post :
I just use Mint. It makes it pretty simple to track my 16 different accounts. I have a widget on my phone which alerts me to any huge changes and I usually take a peak once a day for unexpected charges.
This. Mint Bills has been amazing at tracking my finances and bills with ease.
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#10
I just check every morning to look for the previous day's transactions. Nothing to compare, I can remember the amounts and don't spend much, anyways.
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#11
Quote from tennis8363 View Post :
I just check every morning to look for the previous day's transactions. Nothing to compare, I can remember the amounts and don't spend much, anyways.
This is what I do as well...I keep my receipts though and verify with the paper receipt.

I catch things a few times a year - more often than not, for me, is when I get credited for returns that occasionally I don't get credited the full amount. Or when there has been a cancellation of a service where we are billed monthly, we cancel the service, but still continue to be billed. Things like that...it's not a big deal to check. I do know a lot of people who don't check at all. Ever. That's weird to me, but to each their own.
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#12
I check every few days
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#13
While I do check our credit cards (about once a week for the ones we use frequently and once a month for the ones we never/rarely use), I simply look at the list of all the charges and make sure that they are legit and resemble what we actually spent. I don't go so far as to cross reference receipts and verify completely that the amounts are exact. However, I'm pretty good at remembering what we spent somewhere. I guess there is a chance a thieving server could exaggerate a tip to a small extent (I'd certainly notice anything obvious), but I simply value my time more then spending it itemizing everything and record keeping. I'm not too worried.
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#14
Quote from phonic View Post :
While I do check our credit cards (about once a week for the ones we use frequently and once a month for the ones we never/rarely use), I simply look at the list of all the charges and make sure that they are legit and resemble what we actually spent. I don't go so far as to cross reference receipts and verify completely that the amounts are exact. However, I'm pretty good at remembering what we spent somewhere. I guess there is a chance a thieving server could exaggerate a tip to a small extent (I'd certainly notice anything obvious), but I simply value my time more then spending it itemizing everything and record keeping. I'm not too worried.

This is my approach... I glance at statements looking for retailers I don't recognize or very low charge amounts. If I had to go through every charge I'd spend hours every month to do it.
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#15
Quote from Dr. J View Post :
This is my approach... I glance at statements looking for retailers I don't recognize or very low charge amounts. If I had to go through every charge I'd spend hours every month to do it.

Use Quicken or some other financial software...not really that hard to enter all your transactions and then just cross-check\resolve with your statement when it comes in. If you keep the receipts and just punch them in periodically\as you get them, it is not that time consuming. Once you start recording them, you will have memorized transactions for all your common expenditures and merchants so entering that $25 grocery store purchase takes a few seconds. Resolving the statement amounts to seeing if there is something on the statement that is not in the program and whether the amount due matches.
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