What should I look for on my monthly credit card bill?

Searching for billing errors

Credit card billing is often automated, and there are plenty of opportunities for errors to occur. Be sure to always review your credit card statement at the end of each billing cycle. But what exactly should you look for?

• Make sure that the amounts you have on your receipts for the month are the same as the amounts listed on your credit card bill. Be sure to compare every purchase you made throughout the month with what is listed on your itemized bill.

• Look for any questionable charges on your account that may indicate possible identity theft or fraud, or just a simple mistake. You should call your credit card company if something like this shows up on your account. If they are unable to shed light on where the charge came from, then you should officially dispute the charge both over the phone and in writing.

• Lastly, make sure that your previous payment was correctly applied toward your balance. If you find any errors of any kind on your statement you should not simply assume that you are the one making the mistake. Always pursue these items with your credit card company until you are satisfied with the result.

If you do discover a billing error, keep in mind that they can often be corrected with a little effort. Be patient and take all the right steps and the billing error should be corrected.

For more information on credit card billing errors, your rights as a consumer and best practices in disputing errors, see this resource on the Fair Credit Billing Act.