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Credit Management Q&A

Q: How long do I need to keep financial records like credit card statements, receipts, or tax returns after the year is over?
A: Thank you for your email. It's best to hang onto tax records for seven years, in case of an audit. For credit card receipts and statements, keep the original receipts until you get your monthly statement; shred the receipts if the two match up.

If your statements list tax-related expenses, you should save them for seven years, along with the tax information. Always protect yourself against identity theft by shredding any financial documents when you're done with them.
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