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Credit Card Receipt Disposal
Old 01-13-2019, 11:24 PM   #1
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Credit Card Receipt Disposal

Since I use one of 3 credit cards for 99.00% of my daily transactions, & enter them into a spreadsheet once a week, I always ask for a receipt.

Later, after I've entered the transaction, I use a pen to scribble out the last 4 digits of the account number, crumple it up, & throw it in the wastebasket.

Am I taking a chance doing this ?
There's numbers on the receipt for the following, but I have no idea what they mean ?

AID:
TVR:
IAD:
TSI:
ARC:
TC:

I've been doing this for about 3.5 years, the amount of time I've been a heavy CC user, & haven't run into any problems, at least not yet.
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Old 01-14-2019, 05:51 AM   #2
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I keep any credit card receipt that might have tax implications, the item is eligible for a rebate or reimbursement or might be returned. Everything else is shredded.
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Old 01-14-2019, 05:54 AM   #3
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I staple cc receipts to manuals for warranty, file some for taxes, shred the rest.
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Old 01-14-2019, 06:45 AM   #4
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I staple cc receipts to manuals for warranty, file some for taxes, shred the rest.
+1
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Old 01-14-2019, 07:09 AM   #5
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You might want to consider making a copy. The ink on some receipts disappears with time.
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Old 01-14-2019, 07:47 AM   #6
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I am having a hard time recalling if I ever needed a receipt, except within a few days of purchase for a return.
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Old 01-14-2019, 08:31 AM   #7
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I staple cc receipts to manuals for warranty, file some for taxes, shred the rest.
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+1
That said, sometimes I just pitch them... without the first 12 numbers, I think the risk is very low.

But just shoot me to have to enter every transaction manually... been there, done that... downloading is the way to go (to Quicken in my case).
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Old 01-14-2019, 08:37 AM   #8
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You might want to consider making a copy. The ink on some receipts disappears with time.
+1


I have saved receipts for some purchases that have a warranty period, only to find that near the end of the warranty period the receipt had all but faded away. So I make a copy. Actually, I scan then and save the softcopy a PC folder that is backed up.
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Old 01-14-2019, 09:49 AM   #9
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The image below shows the space I dedicate to receipt storage. When it gets to the top, as it is now, I grab a handful from the bottom and throw it in the stinky kitchen trash (if they want it bad enough to go through rotting chicken carcasses, they really need the money, and besides, the credit card company will make me whole anyway).


This system is perfect for me. It takes no time. Any scanning or photos are completely out of the question for me; I have absolutely no patience for that kind of work (sorry to use that objectionable word here). For those that scan or photograph, I have a question...doesn't curating those image files bug you? Sure, you can say, I just save them and that's it. But that's NOT it! There's all the problems of having them (in your backups, saved to the cloud, later need to purge, getting lumped in with "important" files, ugh). Ok, end of rant on that.


Of course the stack is in rough date order (happens naturally, no sorting is required). The bottom of the stack is currently January 2013. That area is "never accessed", but it's there if I need it. One may say "you save too many", but "too many" is only a problem if it bothers me. It doesn't. There's no baggage with filling that vertical space with stuff with near zero value because it would just be storing "air" if I made the stack smaller.


When I empty my wallet, or pay bills, my expense tracking system gets the amount entered or downloaded. The paper then goes onto the stack, and rarely gets looked at again. Warranty items, same thing, onto the stack. Warranty items get the date written on the front of the manual / paperwork, and that DOES get filed 'properly'. So if I have a claim, I look at the date I wrote on manual, then search the stack for the receipt, which might take 5 minutes. But that's a very, very rare occasion that I'd need to lay my hands on a receipt. Most of the time I automatically search the expense tracker and seeing the price, store and date are enough for my curiosity.
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Old 01-14-2019, 09:52 AM   #10
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The image below shows the space I dedicate to receipt storage. When it gets to the top, as it is now, I grab a handful from the bottom and throw it in the stinky kitchen trash
Sounds like a perfect system.
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Old 01-14-2019, 10:09 AM   #11
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Originally Posted by ownyourfuture View Post
Since I use one of 3 credit cards for 99.00% of my daily transactions, & enter them into a spreadsheet once a week, I always ask for a receipt.

Later, after I've entered the transaction, I use a pen to scribble out the last 4 digits of the account number, crumple it up, & throw it in the wastebasket.

Am I taking a chance doing this ?
There's numbers on the receipt for the following, but I have no idea what they mean ?

AID:
TVR:
IAD:
TSI:
ARC:
TC:

I've been doing this for about 3.5 years, the amount of time I've been a heavy CC user, & haven't run into any problems, at least not yet.
Those additional numbers on the receipt describe the transaction processing. I don't remember the meaning of all of them any more, but it's basically info about the application software, the ID number of the credit card reader, the ID number of the transaction itself, the approval code from the processor, etc. There shouldn't be any info about your card in those codes.

Even having the last 4 digits of the card on the receipt is not really a risk. There are billions of possible card numbers for each 4-digit combo and no way to know the cvv or exp date even if you guess the right card number. People who hack credit cards do it by stealing databases full of stored numbers rather than by picking up individual receipts and trying to make use of the last 4 digits. I just throw my receipts away if I know I won't need them for a warranty claim.
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Old 01-14-2019, 10:51 AM   #12
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I keep them until I reconcile the statement in month so, then I shred most and just keep the few that are part of a purchased item with a warranty or medical. These are filed and the warranty receipts purged after a few years.
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Old 01-14-2019, 11:34 AM   #13
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Originally Posted by sengsational View Post
For those that scan or photograph, I have a question...doesn't curating those image files bug you? Sure, you can say, I just save them and that's it. But that's NOT it! There's all the problems of having them (in your backups, saved to the cloud, later need to purge, getting lumped in with "important" files, ugh). Ok, end of rant on that.
I understand the rant.



But honestly, there is no issue for me, as much of it is automated... I place the receipt (or multiple) on the scanner , then run a program to scan and put in it the folder with a naming convention. My backup process is automated between home and cloud backup. and for receipts, they take so little space relative to other items I backup, I do not bother to delete them.

This is not for every receipt, just for those large/expensive things that having a receipt around for the warranty helps.

However, with more and more places now willing to send email receipts, I am moving towards that direction, when possible. Those are even less effort to save/backup/retrieve than scanning.
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Old 01-14-2019, 11:46 AM   #14
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We keep the ones we need for warranty purposes...usually staple to the user manual etc.

I shred them one I have agreed them to the credit card statement. We shred everything that has any personal financial information on it-partial or otherwise. The shredder lives beside the desk and the waste basket.
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Old 01-14-2019, 11:47 AM   #15
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We keep the ones we need for warranty purposes...usually staple to the user manual etc.

I shred them one I have agreed them to the credit card statement. We shred everything that has any personal financial information on it-partial or otherwise. The shredder lives beside the desk and the waste basket. It is as easy as tossing them in the waste basket or recycle bin.
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Old 01-14-2019, 11:58 AM   #16
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I get cash from the ATM and use that for most IRL purchases, such as at restaurants or to get a haircut, but I do use my CC for other IRL purchases. I opt for no receipt at the gas station, but other places give me a receipt.

Generally, immediately after entering the purchases in my Excel file at home and reconciling with my CC's online website, I tear up the receipts into itty bitty pieces and throw them away. I should probably shred them instead!
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Old 01-14-2019, 12:17 PM   #17
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My general policy is to keep one calendar year plus the year in progress for most records including CC receipts. Exceptions to that include receipts for medical bills, charities and other tax-deductible items, and items bought with warranties. Anything I don't keep gets shredded after a year. I just shredded my unneeded 2017 receipts.
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Old 01-14-2019, 12:54 PM   #18
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Quote:
Originally Posted by sengsational View Post
The image below shows the space I dedicate to receipt storage. ......
When I empty my wallet, or pay bills, my expense tracking system gets the amount entered or downloaded. The paper then goes onto the stack, and rarely gets looked at again. Warranty items, same thing, onto the stack. Warranty items get the date written on the front of the manual / paperwork, and that DOES get filed 'properly'. So if I have a claim, I look at the date I wrote on manual, then search the stack for the receipt, which might take 5 minutes. But that's a very, very rare occasion that I'd need to lay my hands on a receipt. Most of the time I automatically search the expense tracker and seeing the price, store and date are enough for my curiosity.
We have the same system !!
I date my envelopes so I can grab the right months, and it's a good use of junk mail envelopes (zero cost).

I do shred mine after many years, no set schedule, just have to be many years old.

Going forward, I am going to photograph my important receipts as the fading ink issue is a problem for long warranty items, example car batteries.

I'm not worried about the backup part, as I already just do backup of all my files so no change needed. I'll set up a directory structure of Receipts -> Year --> month.
Biggest hassle will be taking the photo/scan, and moving the file.
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Old 01-14-2019, 01:19 PM   #19
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For those that scan or photograph, I have a question...doesn't curating those image files bug you? Sure, you can say, I just save them and that's it. But that's NOT it! There's all the problems of having them (in your backups, saved to the cloud, later need to purge, getting lumped in with "important" files, ugh). Ok, end of rant on that.
It doesn't have to be that difficult. Example.

In 'documents' on my iMac, I have a folder named 'Cell Phones'
Inside that are sub-folders showing each cell phone I've ever owned, in chronological order. Inside I keep scans of the original receipt's, etc.



As for backing up, I've never felt the need to use 'the cloud'
Flash/thumb drives are incredibly cheap, reliable, & easy to use.
Of course that doesn't help, unless you're militant about backing up every week, month, 3 months, etc.
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Old 01-14-2019, 01:21 PM   #20
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Those additional numbers on the receipt describe the transaction processing. I don't remember the meaning of all of them any more, but it's basically info about the application software, the ID number of the credit card reader, the ID number of the transaction itself, the approval code from the processor, etc. There shouldn't be any info about your card in those codes.
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