How long to keep credit card statement?

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When it comes to managing our finances, keeping track of credit card statements is an essential task. But how long should we actually keep these statements? In this article, we will explore the recommended duration for retaining credit card statements and the reasons behind it.

Why Keep Credit Card Statements?

Financial record: Credit card statements serve as a valuable financial record. They provide a detailed account of your transactions, including purchases, payments, and fees. These statements can be helpful for budgeting, tracking expenses, and identifying any discrepancies or fraudulent activity.

Tax purposes: If you use your credit card for business expenses or claim deductions related to certain purchases, credit card statements can serve as supporting documentation for your tax filings. Retaining these statements can be crucial in case of an audit or if you need to provide proof of expenses.

Dispute resolution: In the event of a billing dispute or unauthorized charges, credit card statements can be used as evidence to resolve the issue with your credit card issuer or merchant. Keeping these statements can help you protect your rights and ensure a fair resolution.

While there is no one-size-fits-all answer to how long you should keep your credit card statements, here are some general guidelines to consider:

Short-term retention: It is advisable to retain your credit card statements for at least one year. This allows you to compare your statements with receipts, verify charges, and address any billing discrepancies promptly. Keeping statements for this duration also ensures you have access to the necessary information for tax purposes.

Long-term retention: For certain transactions or expenses that may have long-term implications, such as major purchases, warranties, or tax-related deductions, it is recommended to keep the corresponding credit card statements for a longer period. Experts suggest retaining these statements for a minimum of three to seven years, depending on the nature of the transaction and the applicable statute of limitations.

Organizing and Storing Credit Card Statements

To effectively manage your credit card statements, consider the following tips:

Electronic storage: Many credit card issuers provide electronic statements, which can be accessed and stored securely online. Electronic statements are convenient, as they reduce clutter and can be easily searched and retrieved when needed. Ensure you have a reliable backup system to protect your electronic statements from loss or accidental deletion.

Physical storage: If you receive paper statements, it is essential to keep them in a safe and organized manner. Consider using a filing system, such as labeled folders or binders, to store your statements chronologically or by year. Protect these physical documents from damage, theft, or loss by storing them in a secure location, such as a locked cabinet or a fireproof safe.


In conclusion, keeping credit card statements is crucial for maintaining financial records, supporting tax filings, and resolving disputes. While short-term retention of at least one year is recommended, it is advisable to retain certain statements for a longer duration, especially for transactions with long-term implications. Remember to organize and store your statements securely, whether in electronic or physical form, to ensure easy access and protection.


– IRS: Recordkeeping –
– Consumer Financial Protection Bureau: How long should I keep copies of my credit reports and other credit information? –
– Investopedia: How Long Should I Keep Credit Card Statements? –