How Long Should You Keep Credit Card Statements?

Most credit issuers let you download old card statements using their online platforms. However, how far back you can go when accessing old statements varies from one issuer to the next.

People who wish to have extra peace of mind may want to keep their paper credit card statements for 60 days, which is how long you have to dispute billing errors and fraudulent charges. There are also instances when keeping your statements for longer may be beneficial. For example, if you face a tax audit, you might need to present statements from the last six years.

Safekeeping of credit card statements is critical — whether they’re in the form of paper or digital files — since bad actors can use them to carry out identity theft.

• How Long Should You Keep Your Credit Card Statements?
• How to Store and Dispose of Your Credit Card Statements
• Other Questions You May Have About Credit Card Statements

It’s important to have access to credit card statements in case of fraudulent transactions or erroneous billing. You might also need access to them in other scenarios. In addition, you may use your credit card statements instead of receipts/invoices in some situations.

The Federal Trade Commission (FTC) confirmed that there were close to 1.4 million reports of identity theft in 2021. Since someone can steal your identity by using your credit card statements, it’s important to store and dispose of them carefully. Fortunately, this is pretty easy to accomplish whether you have paper statements or digital ones.

• Paper. You should store your paper statements where there’s little chance of their being stolen or destroyed. Using a fire-resistant safe is typically the best. When getting rid of old statements, consider investing in an inexpensive paper shredder. Alternatively, you may use the services of a professional shredding company.
• Digital copies. If you have your credit card statements in the form of digital files, store them in a password-protected folder. You should also have a password for logging into your computer. Some credit card companies provide password-protected statements.

Steering clear of storing paper statements lets you save space, paper and, possibly, some money. However, there are instances when you might benefit by hanging on to them.

While most credit card issuers let you access digital statements from the last 12 months, there's always the chance of technical glitches or other issues. Plus, if you close a credit card account, you might lose online access to its statements altogether. Of course, you could also download those statements before closing the account.

Keep in mind that while credit card issuers let you access old statements digitally, how long they do so tends to vary from one card provider to the next as indicated below:

• Chase: Seven years
• Bank of America: Seven years
• American Express: Three years
• Navy Federal Credit Union: Three years
• Citi: Two years
• Wells Fargo: Two years

Depending on your card’s issuer, you might be able to get archived statements going back several years. But, this service tends to come at a cost.

And, it might not be possible to get old statements by visiting a branch. Instead, you might need to contact your card issuer’s customer service department over the phone or via email and then wait for copies.

Looking at answers to other commonly asked questions about how long you should keep credit card statements will put you in a better position when dealing with your financial documents. Knowing whether and how you can access statements for a closed account or whether statements can work as receipts, for example, can help you make informed decisions on what to keep and for how long.