Do you check your credit card statement? (What Percentage Do?)

**Mishkyn** · Nov 21, 11, 3:16 pm

I was recently stunned to learn from a friend with a very successful real estate business that he never checks the charges on his personal credit card.

Just today, by checking every charge, I learned that my Chicago Tribune subscription went from $2.75/week to $7.50/week, a 279 per cent increase. No notice from them at all; if I had not checked, I never would have known.

And, I cancelled my subscription when---after every "cancel" I uttered, they offered me 6 rates from "only" $7/week to my current $2.75 rate, but only until April.

I remember reading several years ago that credit cards and banks count on a certain percentage of customers never checking their statements, allowing them, or their customers (like the Tribune) to slip in rate changes or add extra charges.

Does anyone know what this percentage is? It is supposedly well known and relied upon in the industry---just like automatic renewals of "free trials" charged to credit cards from clubs, magazines, etc.

Anyone have a clue?
Thanks, Mishkyn (New Member)

**Meltdownblitz** · Nov 22, 11, 9:48 pm

I personally do not check my end statement but I do keep up with my Charges almost daily. I make sure to track them while searching for errors. Although I'm not sure exactly what percentage checks their statements.

**JNK** · Nov 22, 11, 10:30 pm

I check every few days and then I check my end statement. If I didn't check it, I would never have noticed:

- AOL renewing itself after over half a year of cancellation and no service (this was several years ago)
- gym membership premium dropping a bit (hooray!)
- a subscription NOT renewing despite me telling it to (whoops! I forgot to tell them my old card was cancelled!)
- fraudulent charges

It's always a good idea to keep on top of things. In the case of detecting fraudulent charges, the sooner you notice (if the card company hasn't already) and are proactive, the more willing and able the card company is going to be to help you out.

**requiredfield** · Nov 22, 11, 11:34 pm

I usually call and check a couple times a week on my most used and then look weekly at most online, curtainly before I pay the bill ahead of the cut date. So, I guess that would no to looking at the actual paper statements.

**Money card** · Nov 23, 11, 7:46 pm

when my statement comes in the mail I check my receipts, the copies that we sign at the stores and restaurants. I add them up if every thing is correct. I write a check to whatever company I'm looking at.

If something adds up wrong I call the number on the back of my card and I go over it with a account mgr.

yes I check.

**sticf** · Nov 27, 11, 11:40 am

I check my account balances once a week. I usually wake up early every Saturday and run through my accounts while having my first or second cup of coffee. If I see anything wrong, I start calling to figure out the problem. Most week I am done within 30 min.

**jeffysdad** · Nov 27, 11, 11:53 am

I know I'm OCD about this but I check my three in-use accounts online daily. I save receipts and check them against statements when they cycle. Very, very rarely do I catch something amiss. The last time was a server who gave herself a larger tip than I did.

I feel there is another benefit to doing this than account security. I know during the month how much I'm spending (ALL of my spending goes on these three cards except rent). At the end of the month I can see if I'm within my spending norm and why or why not. It's good discipline for staying within one's means. I've never been able to do a budget where I spend this on restaurants and that on gasoline, etc. Watching the big picture very closely works best for me.

**jumbo** · Nov 28, 11, 2:04 am

I usually check online my activity once every 3/4 days.. and see if there and any transactions that I did not do...

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Do you check your credit card statement? (What Percentage Do?)