Check All Statements Regularly

Check All Statements Regularly

I was recently perusing my Fidelity account which links and captures all transactions for all of my bank accounts, mortgages, loans, and credit cards. As I was reviewing my credit card transaction, I noticed a charge of $299 from a home security company based out of Nashville, TN. There was also a pending charge of $56 that would have likely been authorized.

As you can see, my monthly credit card charges average in the thousands, so a charge of $300 would have slipped through the radar had I not reviewed every single charge. I quickly called the company who charged my card. After a short investigation, they informed me that someone had a very similar credit card number but off by 1 digit….one of their employees had fat fingers and put in my credit card number by mistake. Even though the customer had a different name and different address than me, the charge still went through.

Though I think this was a legitimate mistake, this is a common tactic used by identity thieves. This tactic allows them to skim money from people’s accounts. They either make small bank withdrawals that go unnoticed or make small credit card purchases to see if it will raise any red flags. If not, they’ll either continue the charges/withdrawals or make 1 big charge/withdrawal….similar to my scare when I noticed a $0 balance in my Charitable Gift Fund.

If you’re not reviewing every line item in your credit card statements or reviewing every transactions from your bank accounts, you’re leaving yourself vulnerable for identity theft.

About The Author

Edwin is a marketer, social media influencer and head writer here at I Am 1 Percent. He manages a large network of high quality finance blogs and social media accounts. You can connect with him via email here.

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  1. Shape

    I was reviewing my credit card statement after a trip and noticed a hotel restaurant charge was higher than expected. I pulled my receipt (kept because it was a business trip, but now I always do it) and the waiter doubled the tip that I wrote down!

    I wonder how many times they had got away with that one.

    1. iam1percent

      THat’s a good one and one that i fail to track. I typically throw away restaurant receipts. When I review the credit card statement, i try to recall the amount and if its close, i move on. i wonder how many times that has happened to me.

  2. krantcents

    Whether you have thousands or hundreds on your credit card bill, you should always check it.

  3. Joe Karns

    I feel your pain. I was recently on vacation in Florida (last year) when I got very sick and had to go to a less-than-favorable area hospital emergency room. Well getting sick was just the beginning! Months later when it came time to file my taxes, I received a threatening call from the IRS stating that I’d already filed my return and received my refund. WHAT?! Well after a long and painful investigation, I got everything cleaned up and did receive my refund but the Fed’s still have not found who stole my info from the hospital and posed as me to get my tax refund. Unbelievable, right?

    Moral of the story: Be VERY, VERY careful of who you give you personal info to and make sure you shred anything with your info on it before you throw it away or put it in the recycle bin.

    My 2 Cents. Thanks!

    Joe in Michigan

    1. Shape

      WOW! I would always think to trust hospitals with information, but now with cameras in cell phones they don’t even have to make a photo copy of your information to steal it. I had that one happen to a friend at a restaurant. The person photographed the credit card and took the number that way.

  4. KK @ Student Debt Survivor

    I recently missed a $5 charge on one of my cards then was alerted of a large purchase (thank goodness) by the credit card company. It was an easy fix (I hadn’t been staying at a Super 8 Motel in Arizona) and using my card here in NY at the same time, so they filed a fraudulent charge report and deleted the charge. It really is important to check your statements carefully and regularly.


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