You’re looking over your monthly credit card bill and come across a charge you weren’t expecting. It could be a free-trial that turned into a recurring charge, an unusual increase in a monthly bill, or a duplicate charge from the same merchant on the same day. Whatever it is, this transaction has thrown off your monthly spending plan, and you’re understandably frustrated.
But what if there was a better way to spot these mistakes before they become a bigger problem? Here are four ways you can stay informed about unwanted charges on your credit card
- Keep an eye on your accounts (regularly!) – Waiting until the end of the month to review each of your bank and credit card statements isn’t the best way to spot unexpected charges. And going through long lists of transactions line-by-line can be tedious and makes it easy to miss the ones that are causing you problems. Instead, you should review your accounts regularly – once a week at a minimum – to spot any sneaky charges.
- Review your transactions in one place – Keeping an eye on all your charges is much simpler when you connect your accounts to the Level Money app. From the financial feed of your app’s home screen, you can quickly view recent transactions from all your connected accounts in one place – no need to login into multiple apps or websites to check statements from each bank or credit card company individually.
- Take advantage of a Second Look® from Capital One® – Your Level app isn’t the only place to turn when you want to thwart unwanted charges. Eligible Capital One customers can benefit from Second Look – an alert system that goes beyond traditional credit card notifications to help identify variations in your normal spending patterns. For example, if your cable bill goes from $50 one month to $80 the next, or there are two identical charges from your grocery store on the same day, Capital One is on the lookout and will alert you to unusual card activity via email. (And, if you’re a Capital One Wallet℠ mobile app user, you can also receive push notifications on your phone.) By receiving Second Look alerts, customers can notice an incorrect transaction and file a dispute. And if the the charge is incorrect, Capital One helps their customers get it resolved.
- Don’t ignore the signs – While some unwanted charges – like a problem with your cable company’s billing system – are out of your control, that isn’t always the case. Recurring charges could be a sign that you’re spending more than you realize on subscription services. Or unusually large transactions during the holidays or summer wedding season could mean you need to save more ahead of time for these irregular expenses. Either way, use the insights you gather from Level, Capital One, or any other financial institution to identify bad spending habits you can improve.
You aren’t alone when it comes to defending your finances from unwanted charges. Click here for more information about Second Look from Capital One.
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