Credit card statements and financial records contain highly sensitive information that can make you vulnerable to identity theft if not disposed of properly. Simply throwing them in the trash or recycling bin isn’t enough—shredding is the safest way to protect your personal and business finances. At BestShred, we provide secure shredding solutions to help you safely dispose of outdated financial documents.
Why You Should Shred Financial Documents
Credit card statements, bank records, and other financial paperwork often include personal details such as account numbers, balances, and transaction histories. If these documents fall into the wrong hands, they can be used for fraudulent activities like opening unauthorized accounts or making illegal purchases. Secure shredding eliminates the risk by ensuring that your financial information is destroyed beyond recovery.
How Long Should You Keep Financial Records?
While it’s important to hold onto certain financial documents for tax or legal purposes, keeping them for too long can lead to clutter and security risks. Here are some general guidelines for retention: (as always, check with your professional advisors for their recommendations)
- Credit Card Statements: Keep for one year unless needed for tax-related expenses.
- Bank Statements: Retain for one to three years for reference or tax purposes.
- Tax Documents: The IRS recommends keeping tax-related financial documents for at least seven years in case of an audit.
- Loan and Mortgage Documents: Hold onto these records for as long as the loan is active and for a few years after payoff.
Once these documents are no longer needed, they should be securely shredded to protect your information.
The Best Way to Dispose of Financial Documents
At BestShred, we offer a secure and convenient way to dispose of your financial records:
- On-Site Shredding: Our mobile shredding trucks come to your location, allowing you to watch your documents being shredded in real time.
- Recurring Shredding Services: For businesses and individuals who accumulate financial documents regularly, we offer scheduled shredding to keep paperwork from piling up.
- Certificate of Destruction: After each shredding service, we provide a Certificate of Destruction, verifying that your documents have been securely disposed of in compliance with industry regulations.
Stay Secure with BestShred
Don’t let old credit card statements or financial records put you at risk. Whether you’re clearing out old files or managing ongoing document disposal, BestShred offers reliable shredding solutions to keep your information safe. Contact us today to schedule your shredding service and protect your financial security.