Reviewing Purchase and Statement History

Frequent purchase and financial statement reviews provide insight into spending habits. It can play a crucial role in setting saving and spending goals. Regular reviews also allow consumers to identify questionable charges and practices by businesses and scammers that can impact your credit report. A Florida credit report error lawyer at Sharmin & Sharmin P.A. can offer guidance to get your credit report back on track. 

What to Look for When Reviewing Purchase and Statement History

Comparing purchase receipts to statements is vital in identifying and stopping questionable transactions. Retaining your receipts or using a purchase tracker can document daily spending and should reflect your statement history. Look for these signs of errors or potential fraud:

• Charges you cannot explain or do not recognize
• Purchase amount discrepancies
• Hidden or excessive fees
• Recurring monthly charges without your approval
• Unverifiable merchants
• Purchase patterns and amounts that do not reflect your habits
• Refund errors
• Misaligned purchase dates and amounts 

Immediate action can prevent further errors, address high fees, and identify potential credit card fraud.  

Steps to Take to Address Questionable Transactions in Purchase and Statement History

Investigate any business you do not recognize on a statement to determine if they utilize multiple names or if the purchase is fraudulent. Contact your credit card company or financial institution immediately to report questionable transactions. Review your calendar to check purchase dates against daily activities. A scheduled review may trigger a memory of an uncommonly occurring event and purchase.

Some online businesses have begun automatically signing customers up for recurring purchases after taking advantage of online deals. Opting out of ongoing transactions may be necessary. Review the high fees that a credit card company or financial institution imposes and search for businesses that offer more affordable fees.

Review your credit report for changes that do not reflect your spending habits. Identity fraud can significantly impact your purchasing ability. Working with a Florida identity fraud lawyer offers you experienced legal advocacy. Review your credit report for these common signs of identity fraud.

Protect Your Financial Future

Fraud is a profitable business for scammers. According to the Federal Trade Commission (FTC), 2.6 million consumers file fraud reports annually, costing Americans billions out-of-pocket. Failing to dispute questionable purchases and charges promotes unfair practices. Follow your financial institution’s dispute process to protect yourself financially. 

Identifying businesses with questionable practices is also a step consumers can take to raise awareness. Filing a report with the Better Business Bureau (BBB) allows others to avoid these less reputable companies. The BBB may also enforce changes within a company to provide better consumer protections. 

Finally, fraudulent purchases and identity theft can negatively impact your credit report or lead to credit report errors. These errors can stifle personal progress by preventing the ability to secure a home or auto loan, making renting challenging, and even interfering with attaining employment in specific fields. Successfully addressing credit report errors may be possible when you take these steps after spotting a credit report error.

Contact a Florida Credit Report Error Lawyer

The time-consuming steps to address a credit error report can be overwhelming. A Florida credit report error lawyer at Sharmin & Sharmin P. A. can provide legal guidance when reviews of purchase and statement histories indicate fraudulent activity. Schedule a free consultation to protect your credit and future.