Do You Take Your Credit Card Receipts?

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Jelloanddon
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Do You Take Your Credit Card Receipts?

Post by Jelloanddon » Wed Jun 14, 2017 4:26 pm

With some exceptions, I don't take my credit card receipts or ask for them when offered. These are typically small dollar amounts or from places like restaurants, beauty salons, etc. I use Mint and look at my transactions daily and have had no problem reconciling my expenses.

Am I missing something by not taking them with me or having the clerk print them out?

Goal33
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Re: Do You Take Your Credit Card Receipts?

Post by Goal33 » Wed Jun 14, 2017 4:29 pm

I take them. I don't have a good reason for it though
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Swansea
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Re: Do You Take Your Credit Card Receipts?

Post by Swansea » Wed Jun 14, 2017 4:34 pm

I always take them to reconcile the monthly statement.

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jabberwockOG
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Re: Do You Take Your Credit Card Receipts?

Post by jabberwockOG » Wed Jun 14, 2017 4:34 pm

We buy everything with credit cards. We take all our receipts and keep them in a box in the kitchen for a couple of months in case there are discrepancies on CC statements. Then periodically dump the box into the recycle.

nordsteve
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Re: Do You Take Your Credit Card Receipts?

Post by nordsteve » Wed Jun 14, 2017 4:48 pm

I take them, and keep them for a couple days. My theory is that errors in tip entry are less likely to occur when you take the receipt.

simmias
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Re: Do You Take Your Credit Card Receipts?

Post by simmias » Wed Jun 14, 2017 4:54 pm

I used to get one for every transaction, put it in my Costanza wallet, enter it into Microsoft Money eventually, and then reconcile my accounts every month.

After years of doing this, I concluded this was a gigantic waste of time. The only errors I ever found were restaurants or bars that entered an incorrect tip amount.

Now I only get receipts when I go to restaurants or bars, and trust Mint for the rest.

fareastwarriors
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Re: Do You Take Your Credit Card Receipts?

Post by fareastwarriors » Wed Jun 14, 2017 4:57 pm

Only for places with tipping. Found errors on those receipts all the time.

sport
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Re: Do You Take Your Credit Card Receipts?

Post by sport » Wed Jun 14, 2017 6:47 pm

I take all the receipts. I figure if there is any kind of error, that is my proof to show the bank what the charge should be. I also check the receipts against the bill to make sure everything is correct. It takes less than 5 minutes.

Helo80
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Re: Do You Take Your Credit Card Receipts?

Post by Helo80 » Wed Jun 14, 2017 6:55 pm

Yes; I always take receipts. Then, after about 3 weeks or so when I verify that the charge is correct (gas, grocery, etc.) I'll toss it.

But, if it's for an item (non-consumable) that might need to be returned or warrantied down the line, I'll save it.

KATNYC
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Re: Do You Take Your Credit Card Receipts?

Post by KATNYC » Wed Jun 14, 2017 7:35 pm

Yes, always. I keep the receipt to reconcile and in case I need to make a return. If I decide to keep it after the charge clears, I toss the receipt.

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Leesbro63
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Re: Do You Take Your Credit Card Receipts?

Post by Leesbro63 » Wed Jun 14, 2017 7:42 pm

I generally and lax about receipts and have never had a problem. The only exception is for something big that I might return. Even then I can go online and get the credit card transaction number.

tomd37
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Re: Do You Take Your Credit Card Receipts?

Post by tomd37 » Wed Jun 14, 2017 7:59 pm

All my purchases are via credit card and I keep all my credit card receipts for two reasons; 1) I live in a state where we do not have an income tax and have the election ability to use state and local sales tax paid as an itemized deduction on Form 1040 Schedule A "if" I itemize deductions which is very unusual for this retired couple, and 2) up until the last few years have always reconciled my retained receipt to my monthly credit card billing.

I have only had one error on my credit card billing in the past fifteen years or so and it was only for one penny. With so much information being readily available online now, I check my credit card accounts periodically and no longer do the reconciliation. 2017 is one of the very few years that I might itemize deductions and purchased a new vehicle that gives me an additional $2,700 state and local sales tax deduction so that I might be able to take advantage and itemize deductions this year only. Without a mortgage interest deduction I don't normally come anywhere near the $15K+ standard deduction for an elderly couple. Rather than itemizing charitable contributions we elect to go the route of qualified charitable distributions which is much more beneficial from a federal tax point of view as we save 25% tax on the amount of our QCDs (i.e., the QCD amount is not taxable income).

So yes, I take and keep my credit card receipts for a certain period of time dependent on the federal tax situation we are in for a particular year.
Tom D.

margered
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Re: Do You Take Your Credit Card Receipts?

Post by margered » Wed Jun 14, 2017 8:27 pm

I have heard that the most common printouts of credit card receipts can not be recycled due to chemical content. So, save them if you need them, but when you dump them, put them into the trash and not recycle bin.

tomd37
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Re: Do You Take Your Credit Card Receipts?

Post by tomd37 » Wed Jun 14, 2017 8:54 pm

I cross-cut shred my receipts before disposing of them, but are not aware of the matter that they cannot be recycled. Will check with my Metro Nashville recycle center.
Tom D.

RudyS
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Re: Do You Take Your Credit Card Receipts?

Post by RudyS » Wed Jun 14, 2017 9:05 pm

Swansea wrote:I always take them to reconcile the monthly statement.
me too. Been doing it from day 1, too set in my ways to change now.

Nicolas
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Re: Do You Take Your Credit Card Receipts?

Post by Nicolas » Wed Jun 14, 2017 9:12 pm

I always take all CC receipts. Even if it's for just one dollar, I still take the receipt. I hold them all till the statement comes and then reconcile them. I then burn my receipts. Before instituting this policy I always had the vague feeling someone was ripping me off. Now I have peace of mind. I once found that a waitress either accidentally or on purpose increased her tip. I never went back to complain, I just never went back.

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High Income Parent
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Re: Do You Take Your Credit Card Receipts?

Post by High Income Parent » Wed Jun 14, 2017 9:16 pm

I never take them. I figure I'm saving a tree or something by not carrying a slip of paper for a few hours to days and then putting it in the trash.
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retire57
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Re: Do You Take Your Credit Card Receipts?

Post by retire57 » Wed Jun 14, 2017 9:19 pm

Usually. Never know when I'll need to return something. I also save receipts I'll want to itemize later in Quicken to more accurately track expenses.

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Re: Do You Take Your Credit Card Receipts?

Post by gkaplan » Wed Jun 14, 2017 9:29 pm

I always take the receipts for two reasons.

1. I enter the amounts in an Excel expense workbook. I started this workbook several years before I retired to get an idea of what my expenses might be in retirement. I retired three years ago, but I have kept the workbook going.

2. I scan the receipts in a credit card folder and match them to my monthly statement when it comes in and then destroy then. I also scan the receipts to my tax return folder if I need to document the purpose for tax deduction purposes. I destroy the credit card scanned receipt, assuming it matches my credit card statement, but I keep the tax return scanned receipt. This sounds complicated. It really isn't, though, and it works for me.
Gordon

gkaplan
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Re: Do You Take Your Credit Card Receipts?

Post by gkaplan » Wed Jun 14, 2017 9:30 pm

High Income Parent wrote:I never take them. I figure I'm saving a tree or something by not carrying a slip of paper for a few hours to days and then putting it in the trash.
How are you wasting a tree, if you shred and recycle the receipt?
Gordon

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High Income Parent
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Re: Do You Take Your Credit Card Receipts?

Post by High Income Parent » Wed Jun 14, 2017 10:08 pm

gkaplan wrote:
High Income Parent wrote:I never take them. I figure I'm saving a tree or something by not carrying a slip of paper for a few hours to days and then putting it in the trash.
How are you wasting a tree, if you shred and recycle the receipt?
Good point but I just cut out the middleman. I guess I'm depriving paper mill workers and recycling center workers of jobs though.
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CABob
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Re: Do You Take Your Credit Card Receipts?

Post by CABob » Wed Jun 14, 2017 10:34 pm

nordsteve wrote:I take them, and keep them for a couple days. My theory is that errors in tip entry are less likely to occur when you take the receipt.
But don't they print your receipt before the tip and signature is put on their copy? That has been my experience so I don't see that taking the receipt would change the situation.
Bob

J295
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Re: Do You Take Your Credit Card Receipts?

Post by J295 » Wed Jun 14, 2017 10:42 pm

Never.

TravelGeek
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Re: Do You Take Your Credit Card Receipts?

Post by TravelGeek » Wed Jun 14, 2017 11:12 pm

CABob wrote:
nordsteve wrote:I take them, and keep them for a couple days. My theory is that errors in tip entry are less likely to occur when you take the receipt.
But don't they print your receipt before the tip and signature is put on their copy? That has been my experience so I don't see that taking the receipt would change the situation.
I do the same. The waiter might be more likely that I am reviewing every receipt. So I take restaurant receipts, but I don't actually keep them; I toss them in the trash. I do review my statements on a regular basis, and I get emails and/or text messages for virtually every credit card charge.

I used to enter every receipt into Quicken reconciliation. It was a huge waste of my time and the only fraudulent charges I ever found I would have noticed anyway ("Honey, did you order a bridal dress from a store in Texas? How about $200 worth of stuff from Sephora?").

denovo
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Re: Do You Take Your Credit Card Receipts?

Post by denovo » Thu Jun 15, 2017 3:13 am

fareastwarriors wrote:Only for places with tipping. Found errors on those receipts all the time.
I've found an interesting way to deal with that. I tip using an algorithm, so if I scan the credit card bill I can figure out if there is any mickey mouse.

So if I decide my total bill will be around 23 dollars. I add 2+3= and make it $23.05, $51 would be 5+1= $51.06, granted some numbers will repeat, but it will detect most fraud I guess.

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Sheepdog
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Re: Do You Take Your Credit Card Receipts?

Post by Sheepdog » Thu Jun 15, 2017 3:17 am

Always take them, enter into my Money software, and compare with the online credit card records, usually daily.
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annielouise
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Re: Do You Take Your Credit Card Receipts?

Post by annielouise » Thu Jun 15, 2017 6:42 am

I take them, enter in my excel-based budget, refer back to them if statements don't agree with my spreadsheet, then keep for about 6 months (I shred the oldest month in my receipt clutch when it gets too thick to fit in my drawer). For large purchases, I put the receipt with the manual.

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DaftInvestor
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Re: Do You Take Your Credit Card Receipts?

Post by DaftInvestor » Thu Jun 15, 2017 8:55 am

In two cases:
1) For large items - staple to the front of the manual.
2) For items that increase my home-value - in case laws change about home-cost-basis or my home does increase substantially in value
My spouse:
- Almost always. But mainly because she is somewhat of a returnaholic. Will buy something and then decide it isn't quite the right thing when she gets home. Although most retailers these days can simply look up your purchase using the credit-card you used without the receipt.

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BolderBoy
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Re: Do You Take Your Credit Card Receipts?

Post by BolderBoy » Thu Jun 15, 2017 9:04 am

Jelloanddon wrote:Am I missing something by not taking them with me or having the clerk print them out?
Probably not. If you have an objection it is the merchant who has to prove the charge else it is removed from your account.
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flamesabers
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Re: Do You Take Your Credit Card Receipts?

Post by flamesabers » Thu Jun 15, 2017 9:07 am

I take credit card receipts if:

1. It has a tip line on it
2. It's for a major purchase
3. It has a coupon or other sort of promotional discount on it.

Otherwise I don't bother. I do check my credit cards every few days just to make sure there isn't a fraudulent charge or something.

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F150HD
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Re: Do You Take Your Credit Card Receipts?

Post by F150HD » Thu Jun 15, 2017 9:21 am

see lots of comments about errors and tipping on receipts.

Now, is this when you leave the tip on the actual receipt? (and pay for the tip using the credit card?)

or when you pay using a credit card but pay a cash tip. (I do this more frequently)

Assuming the former but thought I'd ask.

I had the big receipt pile so I tend to not take receipts anymore, though the tipping posts above are worth noting.

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Re: Do You Take Your Credit Card Receipts?

Post by Lynette » Thu Jun 15, 2017 9:27 am

No, I check my credit card statement periodically to see if there are no unwanted charges. I have a few box of tiles for my kitchen floor from Home Depot that are spare. I did not keep the receipts. I suppose that there is a record of them on my statement. I'll just keep them in my garage - maybe use them to replace bathroom floor - or dump them (more likely). I don't like stuff I don't use!

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flamesabers
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Re: Do You Take Your Credit Card Receipts?

Post by flamesabers » Thu Jun 15, 2017 9:30 am

F150HD wrote:see lots of comments about errors and tipping on receipts.

Now, is this when you leave the tip on the actual receipt? (and pay for the tip using the credit card?)

or when you pay using a credit card but pay a cash tip. (I do this more frequently)

Assuming the former but thought I'd ask.

I had the big receipt pile so I tend to not take receipts anymore, though the tipping posts above are worth noting.
For me it's when I use a credit card to pay for the tip. I rarely carry cash anymore, so I use a credit card to pay for everything.

KATNYC
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Re: Do You Take Your Credit Card Receipts?

Post by KATNYC » Thu Jun 15, 2017 10:15 am

Nicolas wrote:I always take all CC receipts. Even if it's for just one dollar, I still take the receipt. I hold them all till the statement comes and then reconcile them. I then burn my receipts. Before instituting this policy I always had the vague feeling someone was ripping me off. Now I have peace of mind. I once found that a waitress either accidentally or on purpose increased her tip. I never went back to complain, I just never went back.
This happened to us recently, a tip was added to the credit card receipt although an 18% tip was left in cash.
We never went back but didn't complain since the group we were with asked us not to complain, it's their go to restaurant.

We do have all receipts for a recent home renovation. In fact, we have old receipts and photos from the prior renovation many years ago. We will keep the photos but it's probably time to throw out the old receipts.

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flamesabers
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Re: Do You Take Your Credit Card Receipts?

Post by flamesabers » Thu Jun 15, 2017 10:32 am

KATNYC wrote:This happened to us recently, a tip was added to the credit card receipt although an 18% tip was left in cash.
We never went back but didn't complain since the group we were with asked us not to complain, it's their go to restaurant.
This is one of the reasons why I use a credit card to pay for tips. You really can't "prove" you left a tip at the table, so I figure there is always the chance a tip might get added to your credit card.

rgs92
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Re: Do You Take Your Credit Card Receipts?

Post by rgs92 » Thu Jun 15, 2017 10:45 am

Someone burns the receipts?

KATNYC
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Re: Do You Take Your Credit Card Receipts?

Post by KATNYC » Thu Jun 15, 2017 10:52 am

flamesabers wrote:
KATNYC wrote:This happened to us recently, a tip was added to the credit card receipt although an 18% tip was left in cash.
We never went back but didn't complain since the group we were with asked us not to complain, it's their go to restaurant.
This is one of the reasons why I use a credit card to pay for tips. You really can't "prove" you left a tip at the table, so I figure there is always the chance a tip might get added to your credit card.
99% of the time I pay the tip in on the card for this same reason. For group outings, the consensus has been to leave tips in cash.

MrNewEngland
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Re: Do You Take Your Credit Card Receipts?

Post by MrNewEngland » Thu Jun 15, 2017 10:56 am

Nope, not unless there's potential that I may return and item or something like that.

I don't balance my books and I am borderline compulsive about how often I check my accounts online and I pay off my bills a couple times a week.

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Re: Do You Take Your Credit Card Receipts?

Post by deskjockey » Thu Jun 15, 2017 11:02 am

I always take my receipts, then reconcile them with Quicken's downloaded transactions. Once I do that, I toss all of them except the ones for items with a warranty or that could be returned. I also keep receipts for home renovations, since those will add to the home's basis and, if/when we ever sell it, will lower our capital gains.

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Pajamas
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Re: Do You Take Your Credit Card Receipts?

Post by Pajamas » Thu Jun 15, 2017 11:15 am

Yes, always. I check them against account statements and keep ones I might need later and shred the rest.

I also go over them carefully when making purchases, especially at restaurants or grocery stores or any time I am purchasing multiple items. I am surprised at how often something rings up incorrectly compared to the marked price or is scanned incorrectly by the cashier. The biggest problem I have at the grocery store is items that are mis-priced in the system, the second most frequent problem is that a single item hits the scanner twice, and the third most frequent problem is that the cashier will ring up similar items as multiples of the same item even though they have different prices.

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Just sayin...
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Re: Do You Take Your Credit Card Receipts?

Post by Just sayin... » Thu Jun 15, 2017 11:45 am

I have a phone with a built-in camera. I just snap a picture of the original receipt, after all amounts have been calculated and it has been signed, then use the image to reconcile any discrepancies. I also round every transaction to the nearest dollar (where tipping is involved) so that any transaction not ending in .00 is immediately suspect. I've caught a couple cheaters this way...

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Re: Do You Take Your Credit Card Receipts?

Post by westcoast » Thu Jun 15, 2017 11:53 am

We always take a receipt for everything. They go in a box below my desk and stay there for several months till the box (garbage can) is full then into the shedder. I several credit card but use one for just about everything and carry little cash. I pay the credit off every few days making sure online is correct.

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Re: Do You Take Your Credit Card Receipts?

Post by tomd37 » Thu Jun 15, 2017 12:13 pm

I have seen people write "left tip on table" in the tip section of the charge slip and their copy when they do that.
Tom D.

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Re: Do You Take Your Credit Card Receipts?

Post by Nicolas » Thu Jun 15, 2017 12:55 pm

rgs92 wrote:Someone burns the receipts?
Yes, I do, but only because it's easier than shredding them. I just throw them into our wood-burning fireplace. We have frequent fires during the colder months, so it's just extra kindling for our fires. I would never just throw them away, too paranoid for that. I know only the last four digits of the CC number are present, but still.
Last edited by Nicolas on Thu Jun 15, 2017 1:21 pm, edited 1 time in total.

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Re: Do You Take Your Credit Card Receipts?

Post by Jack FFR1846 » Thu Jun 15, 2017 1:01 pm

nordsteve wrote:I take them, and keep them for a couple days. My theory is that errors in tip entry are less likely to occur when you take the receipt.
This.

I have had tips added in the past. Got an $8 lunch at a deli and when the credit card statement came in, a $16 tip was added. Capital One will actually flag this and send an email.

I always take the receipt, even if I just throw it away at home. The server at least sees that a copy is gone when he picks up the bill and cc slip.
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Pajamas
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Re: Do You Take Your Credit Card Receipts?

Post by Pajamas » Thu Jun 15, 2017 1:05 pm

tomd37 wrote:I have seen people write "left tip on table" in the tip section of the charge slip and their copy when they do that.
I write "CASH" in the tip space.

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Munir
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Re: Do You Take Your Credit Card Receipts?

Post by Munir » Thu Jun 15, 2017 1:08 pm

Does taking the receipt make it easier or less easy for someone trying to steal your credit card info at the place of transaction or later if receipt is discarded?

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Re: Do You Take Your Credit Card Receipts?

Post by VictoriaF » Thu Jun 15, 2017 1:46 pm

I don't like to leave a paper trail.

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DaftInvestor
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Re: Do You Take Your Credit Card Receipts?

Post by DaftInvestor » Thu Jun 15, 2017 1:48 pm

Munir wrote:Does taking the receipt make it easier or less easy for someone trying to steal your credit card info at the place of transaction or later if receipt is discarded?
Receipts no longer print your credit-card numbers on them so I don't think it matters one way or the other.

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Re: Do You Take Your Credit Card Receipts?

Post by flamesabers » Thu Jun 15, 2017 1:51 pm

DaftInvestor wrote:
Munir wrote:Does taking the receipt make it easier or less easy for someone trying to steal your credit card info at the place of transaction or later if receipt is discarded?
Receipts no longer print your credit-card numbers on them so I don't think it matters one way or the other.
Don't they still print the last 4 or 5 digits of your credit card number on your receipt?

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