Question: Can Credit Card Companies See What You Purchase?

Your typical credit card statement will not mention the items you have purchased, instead it will give you the merchants name.

In theory, this is possible.

Many purchase orders which are paid by credit card use what’s called Level 3 data, which is essentially line-item data.

Do credit card companies monitor your purchases?

Credit card company fraud departments monitor their cardholders purchases to detect unusual patterns or purchases.

Can you see what was purchased on a credit card?

Yes, If you make a purchase with your credit card, then you’ll also receive a receipt showing what you bought. So you must keep that receipt in case in you want to return the item, as a credit card statement[1] is not sufficient proof of the cost or type of a particular product.

Can the bank see what I buy?

For You. Banks, as such, can’t read. Bank and credit card employees are not only subject to privacy policies, they don’t have time to be snooping through your purchases.

How long do credit card companies keep records of purchases?

You should keep tax-related documents for seven years. So stick those old credit card statements in the folder with your other tax records for the relevant year and hold on to them for seven years.