Why You Should Always Audit Your Credit Card Statements

Most people check their bank accounts for large, unusual transactions, but smaller details often go unnoticed. A recent experience reminded me why reviewing every charge is so important.

The Unexpected Charges

While going through my credit card statement, I noticed three charges that didn’t belong:

• $800
• $1,500
• $2,944

The transactions were from a CPA firm in Utah, which didn’t make any sense since I had never done business with them. My first reaction was to call my credit card company, and they recommended reporting it as fraud.

Before taking that step, I decided to call the CPA firm directly.

A Strange Coincidence?

The firm was professional and responsive. After looking into it, they explained that these charges were invoices for one of their actual clients. But there was one odd detail—when they checked, the last four digits of my credit card matched exactly with their client’s card.

That was a red flag.

This specific credit card is one I almost never use. It stays in my wallet and is only used for in-person purchases, mostly through Apple Pay. For online transactions, I always use a virtual card. The fact that my card number matched their client’s seemed like an impossible coincidence.

Checking Statements Can Save You Money

This situation reinforced why reviewing your statements is critical. At MJN Technology, we frequently audit our clients’ IT and financial security practices, and it’s surprising how often we find unnecessary expenses.

One client had been unknowingly paying $150 a month for television service in an office with no TVs. They had no idea until we flagged it for them. After calling the provider, they were able to get the charges reversed.

What You Can Do to Protect Yourself

A few simple steps can help avoid unnecessary charges and security risks:

• Review your statements regularly to catch mistakes or fraudulent activity.
• Use virtual cards for online purchases to prevent your main card number from being compromised.
• Set up transaction alerts so you’re notified of charges in real-time.
• Verify transactions before disputing them—sometimes businesses make errors, and a quick phone call can resolve them.

This situation still has me wondering—was this a rare glitch, or is there something bigger happening with payment processing? If you’ve ever experienced something similar, I’d love to hear about it.