True or false? You should monitor your credit card statements for unauthorized purchases.

Monitoring your credit card statements for unauthorized purchases is essential for several reasons. By regularly reviewing your statements, you can quickly identify any transactions that you did not authorize, which could indicate fraudulent activity. Early detection of unauthorized charges allows you to report them to your financial institution promptly, minimizing potential losses and protecting your credit score.

Additionally, routinely checking your credit card statements helps maintain awareness of your spending habits, assisting you in budgeting and preventing overspending. It's not just about catching fraud; it's also about being an informed consumer. Regular monitoring provides peace of mind and contributes to overall financial security.