![]() ![]() Provide the email address you wish to receive your monthly bill statement. There is no fee to receive a monthly account statement by email (also known as paperless statements) or to access it online. It pays to ask since each place is different. Specify in your online account profile that you wish to sign up for paperless billing. However, they often choose to retain statements for longer. (While most people don't need to worry about a tax audit after three years has passed, in rare cases you can be audited up to six years after you've filed.) You might also find you need a credit card statement for a proof of purchase or a warranty claim down the road.īanks and credit card companies only have to hold onto your credit card statements for two years, in accordance with the Truth in Lending Act. Previous Balance 0.00 New Balance Minimum Payment Payment Due Date. That way if your taxes are audited you'll be able to provide a record of expenses. In fact, Discover Card alone estimated that they were able to save the cost and waste of printing and mailing over 70 million pages of paper each year. Our collaborativeSee this and similar jobs on LinkedIn. ![]() They are doing their part for the environment by saving trees and reducing waste in landfills. A brighter future.With us, youll do meaningful work from Day 1. To be safe, you should have seven years worth of credit card statements on hand, says Lauren Saunders, a lawyer at the National Consumer Law Center. Every credit card company and bank in America brags about their paperless monthly statement feature. Select Online Statements and follow the enrollment steps. Secondly, you might find that you don't have access to previous credit card statements when you need them. When you bank with Discover, you can access your statements via mail or paperless online. Or, if you have automatic payments set up, you could fail to spot a mistake or see the type of fees and interest you're paying. (To be fair, they didn't look at how many people chuck their physical statements unopened.) However, if a statement entirely slips your attention, that means you could miss a payment. To access your online statements, you will need to navigate to your account management page and choose the statements option from the menu. According to the CFPB, half of credit card holders who receive online statements don't actually look at them. However, it's worth considering two potential downsides.įor one, statements sent to your email inbox can get lost in the shuffle. Going paperless can certainly be convenient and reduce the number of financial statements needlessly cluttering the house. ![]()
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