Should You Save Your Credit Card Receipts?

Ah, I always love a good personal finance philosophy discussion. Up for debate today: should you save your credit card receipts, or should you throw them away immediately, or not ask for a receipt at all?

It's not exactly Socrates vs. Thrasymachus, but here goes.

You SHOULD keep all of your credit card receipts: It's an easy way to double check charges to your card when you review your statement -- and if you are overcharged (waiter adds too much of a tip to your bill, etc.) you have some solid proof to show the restaurant or store manager in order to get a refund or charge back. Given how small and light receipts are, it shouldn't be much of a hassle to keep a folder of them back at your house. Also, it provides some good proof should you ever need to justify your business expenses to the government around tax time, a business partner, or anyone else. 

You SHOULDN'T keep all of your credit card receipts: Life is already filled up with enough junk, without crumpled up receipts everywhere at home and stuffed in your pockets. Opt not to get a printed receipt whenever possible -- you will save paper and pollute less this way. Also, some older card transaction systems print out your entire credit card number and name... a definite security risk should your receipt fall into the wrong hands. Just check your credit card statement once per week online and you should be fine. No need to do personal finance budgeting overkill with an ugly stack of receipts.

What do you think? Which side are you on?

Views expressed here are my own, not necessarily those of our partners, and this is not to be construed as professional investment or financial advice.

Comments

[Marion]

I think they should be kept, but not indefinitely. I keep my reciepts and compare them to my statement when it arrives. Once they are matched up those for consumeables and incidental purchases are shredded. Those for larger purchases are kept because my credit card company offers extended and more inclusive warranties than those of the manufacturer.