So how long do I need to keep bank and credit card statements?

[dmftoy1]

I've been cleaning up my office and making the house more secure (in general). One of the "threats" I"m trying to avoid in the future is identity theft. While cleaning out my filing cabinet I realized that I have my Bank and Credit card statements for about the last 14 years. Is there any reason to hold on to these anymore? In this age of electronic imaging, etc, you'd think that I could get a reprint from the issuing financial institution if needed.

Just curious if anyone knows of a reason to hold onto these things. I really don't want to scan them into the computer unless I have to.

Have a good one,
Dave

 

[jvencius]

I've been cleaning up my office and making the house more secure (in general). One of the "threats" I"m trying to avoid in the future is identity theft. While cleaning out my filing cabinet I realized that I have my Bank and Credit card statements for about the last 14 years. Is there any reason to hold on to these anymore? In this age of electronic imaging, etc, you'd think that I could get a reprint from the issuing financial institution if needed.

Just curious if anyone knows of a reason to hold onto these things. I really don't want to scan them into the computer unless I have to.

Have a good one,
Dave

If you only need to hold onto tax returns for seven years, I can't see any need to keep bank statements for longer than that...

 

[Ford_Forgotton]

I would run a full credit check on yourself as far back as they have, and compare to your records so that you can correct any errors. After that, I wouldnt keep any more than 5 years history.

SHRED EVERYTHING. I've had my ID stolen, so I shred junk mail too. If it has my name, it gets shredded.

 

[dmftoy1]

Yeah, we shred everything too. The thing is, I have a big "unlocked" file cabinet with all these records in it. I've been watching that "It takes a Thief" show on Discovery and they seem to always steal all the bank info, etc. I figure I'll probably lock up whatever I decide I need to keep, I'm just trying to get what I keep down to a minimum.

Have a good one,
Dave

 

[jvencius]

Here's another idea that should save some space--scan everything, store it to a removable hard drive, then lock the hard drive up in a safe and shred the paper copies.

 

[CHPMustang]

We do a spring time file purge each year and it all gets shredded as we only keep it all stored for up to 10 years

Bill

 

[dmftoy1]

Hi Bill!

So you keep 10 years worth? Have you ever had a need to go back to any of it?

Have a good one,
Dave

 

[CHPMustang]

Hi Bill!

So you keep 10 years worth? Have you ever had a need to go back to any of it?

Have a good one,
Dave

I used to keep records for about 7 years till we started filing jointly,it seems that we have statements and such going back about 10 years but the shredder is never put away

Bill

 

[Ggg]

Hello Dave, good to see you. Since it is tax time I asked my accountant and she said 7 years. This is also what I had heard from other sources over the years.

 

[dmftoy1]

Ok, I guess I'll have to keep all that crap around.

I just need to find some bigger boxes.

Have a good one,
Dave