Do You Use Electronic Credit Card Statements?
Credit Card Statements: Paper vs. Electronic
If your credit card company has notified you about your option to receive your credit card statements electronically, you might be wondering if it's a good idea. There are advantages and disadvantages to both, and if you're interested in switching to electronic there are some things you need to know.
Tame the Clutter
There’s no doubt about it, paper credit card statements can create clutter -- especially if you have quite a few credit cards. You have to be very organized and stay on top of your incoming mail if you don’t want your paper credit card statements to become a hassle.
If you don't mind having a filing system in place and you can stick with it, paper statements aren't that bad. If, however, you hate to file and statements just pile up, electronic credit card statements might be the way to go.
Identity Theft
If you opt for paper credit card statements, you’ll have to shred them when you are ready to throw them away so that identity theft criminals can’t piece the statement back together and get valuable information such as your account number.
With electronic credit card statements, you still have to be concerned about identity theft. Keep all of your login and password information on a piece of paper, and store it in a safe place, preferably a locked file cabinet.
Don’t store your passwords on your computer unless you know how to encrypt them carefully because if someone hacks into your computer, they’ll have all the information they need to access your credit card accounts online.
Pay Your Credit Card Bills on Time
Go with whatever method keeps you more organized. The ultimate goal is that you pay your credit cards on time and not forget about making a payment. Sometimes electronic statements via email are very convenient. You click the button to make a payment and the day your statement is received, the payment is made.
It's true that electronic credit card statements are much more convenient (as well as ecologically friendly). However, some people just can't live without their paper statements. You can always opt for both and wean yourself away from paper if you're not ready to make the jump to electronic credit card statements right now.