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The Banco Central de Reserva (BCR) reminded credit card users of the importance of regularly reviewing their statements to better manage their expenses, identify unusual transactions, and meet their payment obligations on time.
According to regulations approved by the Banco Central de Reserva´s Standards Committee, banking institutions must send their clients their credit card statements monthly, at least 15 days before the payment due date.
This timeframe allows users sufficient time to carefully review the transactions made during the period. It is recommended to verify the charges, amounts, and transactions recorded to confirm they correspond to the purchases made.
Reviewing your statement can also help detect any unrecognized transactions. If you notice any unusual activity, it is important to contact your financial institution for information and guidance on the appropriate steps.
Another benefit of checking your statement is having a clear understanding of your outstanding obligations and payment due dates. Making payments on time helps avoid interest charges and maintain better control of personal finances.
The BCR also points out that if someone is having trouble making payments, they can quickly contact their financial institution through available digital channels. This way, they can seek guidance and learn about the alternatives that best suit their situation.
Reviewing your statement not only lets you know how much you’ve spent, but it’s also a tool for keeping your finances organized, preventing problems, and making responsible decisions about credit card use.
Therefore, users are advised to take advantage of the 15-day advance notice period to review their transactions, verify their obligations, and ensure they make their payments on time.
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