If everyone meticulously went through their credit card statements, they might notice some questionable charges. However, many people don’t have the time to sit down and sort through every purchase listed on their bill. That’s where an app such as BillGuard comes into play.
BillGuard is a mobile finance app that allows users to check charges on their credit and debit cards to detect fraud. The app tracks users’ credit card spending so it can detect suspicious charges, and the app will prompt you to report the charge as acceptable or ask BillGuard to send an inquiry via a simple automated reporting system to the merchant on your behalf. The app will also flag charges on your credit card that have been frequently reported by other users as fraudulent. According to BillGuard, flagging the charges has resulted in $50 million saved across a billion transactions.
The app now has a feature where it will track users’ patterns of purchases in order to inform them of month-to-month spending and alert them of coupons for their regular expenditures. BillGuard allows you to provide feedback on whether the coupons are relevant to you by “redeeming” them or “rejecting” them, and the app will adjust accordingly.
BillGuard is free for iPhone and Android users for an unlimited amount of credit or debit cards. It was voted the “#1 Finance App” by the App store, as well as “Best iOS Apps of 2013” by Tech Crunch.
Please let us know your experience with BillGuard! Has the app helped you find fraudulent fees or better manage your expenses?