Here's why you should Save your Credit Card Receipts

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Every time you make a purchase using your credit card the seller acknowledges the payment and hands over you a receipt. Most of us consider receipts to be useless bits of paper that have no use. However, in real time saving credit card receipts is a good financial habit that helps cardholders in numerous ways.

Credit card receipts are highly secure and if you take a closer look at a receipt you will observe that only the last five digits of the card are mentioned on it as a security measure. Based on the fair and credit transactions act, only the last five numbers can be printed on a credit card receipt. Furthermore, the expiration date of the credit card cannot be printed on the receipt as it is considered confidential information.

If you are wondering how saving your credit card receipts will benefit you, we will shed light on the topic in this thread. Before we go ahead and dive deep into the benefits of saving credit card receipts let us take a quick look at what information is actually present on credit card receipts in the UAE.

Information on Credit Card Receipt

The information listed on credit card receipt is as follows-

Name of the credit card holder

The first and foremost information that is mentioned on credit card receipts is the name of the cardholder in order to identify the user.

Credit Card Number (Last four digits)

The second important information that is listed on the credit card receipt is the last four digits of the credit card. As mentioned earlier, this is a preventive security measure used by financial institutions and credit card providers in order to safeguard cardholders against fraudulent transactions.

Details of the Merchant

In some of the cases, the name and the address of the merchant from where the purchase has been made are listed on the credit card receipt.

Other Details

The amount of the transaction, the time at which the transaction took place, the date of the transaction are all mentioned on the credit card receipt.

Authorization Code

Approval code is also known as the authorization code refers to a combination of numbers and alphabets, that validates the identity of credit cardholders along with approving a particular transaction or providing access to a secured area. 

Benefits of Keeping Credit Card Receipts

There are numerous benefits of saving credit card receipts, here’s a quick rundown-

The receipt can be used as Evidence against Unauthorized Transactions

Very often credit card users are stuck in the trap of unauthorized transactions. An unauthorized transaction may be defined as one that is not carried out by the cardholder. However, all credit cards are quite secure as a result of PIN and OTP verification techniques, but there are still loopholes. Fraudsters make use of different methods like skimming, taking over the account, and phishing to carry out unauthorized transactions.

In order to safeguard cardholders against unauthorized transactions, financial institutions have developed guidelines that limit the obligation of the cardholder. Most of the time in case of such unauthorized disputed transactions, the customer care representative of your bank will typically ask you to show the receipt of the respective transaction either physical or digital. In case the cardholder is unable to show the receipt, he/she might lose the case.

Receipts are Vital for making Refunds

While shopping using a credit card if you purchase a product and later wish to refund it, you would need to show the receipt for that particular purchase. Saving the credit card receipt will help you to facilitate a hassle-free refund or exchange of the product. While making a purchase using your credit card you receive two receipts one from the seller and one from the POS machine. In order to make a refund, you will need the seller’s receipt, however; it is important to save both receipts in case of any delay of fund transfers.


Very often corporate officials are provided the access to corporate credit cards or corporate wallets of their company. In order to receive the reimbursement of the transactions made it is crucial to submit the receipts to the finance division of the organization. The merchant receipt is sufficient but corporate officials should try and save their credit card receipts as well as evidence in case of any discrepancy that might arise in the transactions.

Credit Card Receipts for Reviewing Charges on Monthly Statements

Cardholders need to make use of credit card receipts in order to revisit or review the charges on their monthly credit card statements. Credit card receipts turn out to be a crucial proof when a cardholder is trying to avoid attempts made by merchants to overcharge them.

In a Nutshell

Credit card receipts might appear to be useless bits of paper but are of immense use when it comes to managing finances. If you are not planning to keep your credit card receipt it is better not to ask for it as it is not a secure practice.

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