With everyone so busy these days, we don't always take the time to check our financial statements.
Especially our credit card statements. We are all aware of identity theft, and being careful about our debit and credit cards and pin numbers etc.., but what about small errors. Errors that show up on your statements?
With points cards out there and everyone collecting points for free travel, entertainment and more, we are using our cards all the time. I know myself, that with the points I collect on my Visa, I am able to do some traveling for a deep discount on airfare, just by buying the things I do naturally, but by using my card.
Therefore, the statement is looking bigger each month, as I use it in the grocery store, gas station, and all purchases in order to get the points. As long as I am still able to pay off the balance each month, then these points are truly a good deal. (Remember, most points cards are much higher interest if you don't pay them on time and therefore would offset any travel discounts)
Take the Time and Check Each and Every Item
But last month, I just happened to be going down the list of items on my statement, and noticed a couple of duplicate entries. When I think back to one of them, I remember the clerk in the restaurant having a hard time with her portable device for cards that she would bring to the table, it actually looked like it didn't go through and so she did it again. When I got my statement, it was on their twice.
I know this was just an error, because I was doing this with her, but what if I didn't bother to look at each item? I would have paid an extra 32 dollars..
I looked further down the page, to find that an automatic bill that I was no longer paying with my card was still showing up on my statement. The month before I had cancelled in writing a subscription that was being charged to my VISA. I had received a letter back, stating that they had stopped all charges. But there is was on my VISA bill.
I phoned the Visa company with regards to the duplicate restaurant charge and they saw it, and took it off. But only because I called. Then I called the subscription company, and they said it went through in error, and promised to correct it. I then phone the VISA company and told them about the subscription company and they were put on watch.
So, just by taking the time, to look at my Visa statement I saved myself almost 100.00 dollars that would have just been paid without any questions asked.
So, next time you get your statement in the mail, really check each and every item. I quite often keep my store receipts and match them up with the statement and attach them to it. This creates the habit each month of watching my statement. After that incident, I watch for errors all the time. Sometimes it is the store and many times it is the company. So, start watching for those smaller errors. It is not just the big ones you need to watch out for. But if you are using your card all the time like me, and the amounts are different each month, then you need to take a good close look and check for errors.
I have found errors two months in a row now. My hubby purchased gas, and used his card, and it went through twice on the statement. If you don't say anything, no one else will. It is your money, try to keep it!
I told my sister-in-law about these errors and she checked her statement as she uses her Visa all the time, and she found 49 dollars in duplicate entries. It is totally worth checking.
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