Saver takeaways Keep credit card statements for at least six months — longer if they’re tied to disputes, tax claims, or business expenses. Business owners and freelancers in Singapore should retain statements for up to five years to support tax filings and audits. If you've made charitable donations by credit card, keep the statement for at least a year to verify transaction details for tax relief. For disputed charges, retain all related documents — including statements, emails, and forms — for at least 12 months after resolution. Go paperless with caution: download and save important statements in a secure folder or cloud to stay organised and prepared.

In today’s digital world, it's easy to forget about your credit card statements — especially when they’re tucked away in your inbox or banking app. But before you hit delete or toss them in the bin, consider this: those statements may come in handy when filing taxes, resolving billing errors, or even tracking your personal budget. Knowing how long to keep them and when it’s safe to let go can help you stay organised, protect your finances, and avoid unnecessary headaches down the line. 

Here’s a quick guide on what to keep, when to discard, and how to manage it all securely.

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As a general rule of thumb, hold onto your credit card statements for at least six months — or until you’re confident there are no errors in your charges and you’ve reconciled everything in your budget.

If you’re using your credit card for specific purposes such as tax claims, reimbursements, or financial tracking, you may want to keep them longer. This is especially true for statements that could support claims with IRAS, or those tied to significant purchases or charitable donations.

Most banks only offer a few months of statements for free. For older ones, expect to pay a retrieval fee of around S$20 per request, depending on the bank.

You’re a business owner and use your credit card for business expenses

If you’re self-employed, freelance, or running a small business, keep those credit card statements for up to five years. They can serve as supporting documents for IRAS audits or tax filings, especially if you use your card for office supplies, digital tools, or client expenses.

In Singapore, business deductions must be substantiated, and statements can act as backup if invoices go missing or payment records are incomplete.

You make charitable donations by credit card

While most approved charities in Singapore automatically send donation details to IRAS, it’s still smart to keep the corresponding credit card statement. It helps verify the transaction amount and date — useful if there’s a discrepancy or missing claim.

Hold on to these statements for at least one year, until the deduction appears in your tax statement and is successfully processed.

You’ve filed a dispute

If you’ve disputed a charge, don’t discard your statement just yet. Banks such as DBS or Citi can take six to eight weeks — or even longer — to fully resolve an issue.

Keep your statement until the case is officially closed and the outcome reflected in a future billing cycle. This ensures you have a paper trail if the charge resurfaces or requires follow-up.

» Protect yourself from credit card fraud

Whether you’ve gone paperless or not, disposing of credit card statements should always be done securely. Even old documents can contain sensitive data like your card number, name, and billing address.

For physical copies, use a cross-cut shredder. For digital files, use a secure deletion tool — don’t just drag them to your desktop bin. Even statements downloaded from banking apps (linked to SingPass) should be deleted carefully once they’re no longer needed.

» Act swiftly to protect yourself if your credit card is stolen

Going digital is a convenient and eco-friendly option. With banking apps like UOB TMRW or OCBC Digital, you can access statements instantly without cluttering your home. Plus, they’re easier to search and store.

However, digital statements are easy to overlook. Without a physical reminder, some users forget to check them regularly — missing errors or unauthorised charges.

A hybrid approach works well: go paperless, but download and save key statements in a secure, clearly labelled folder or cloud storage. This is especially useful for expense claims or major purchases.

» Learn how to read your credit card statement

Even after a dispute is resolved, it’s best to hang onto all related records — including statements, emails, screenshots, and bank communications — for at least 12 months.

This protects you in case a refunded charge is reversed later, the same error occurs again, or your bank conducts a follow-up review or audit.

Set up a digital folder labelled with the bank and dispute month, such as “DBS Dispute March 2025,” to make retrieval easy if needed later.