David Pecoraro pays his Chase credit card in full each month. “When I have one,” he adds. He didn’t receive a billing statement in June, so he assumed the account had a zero balance.

That was a mistake. In July, he received a statement that showed he failed to pay a $7.46 balance in June. “The bank added late fees and finance charges totaling more than $30. I paid the bill for June and July in full, minus the fees and finance charges. I figured the bank would waive them because I hadn’t received a billing statement.”

That was another mistake. “The bank would not waive the charges. I said I wanted to dispute the charge, but I was told I couldn’t do this. I asked to speak to a department supervisor. They told me that supervisors at customer service phone centers do not take phone calls,” Pecorano recalled.

He’s understandably frustrated. But his frustration is compounded by a common misconception.

Many consumers erroneously believe that creditors are obligated to send monthly billing statements. It’s one of the most persistent and potentially expensive credit card myths. The fact is that is up to cardholders to keep track of their balances and make payments by the due dates, regardless of whether they receive a billing statement.

So even though Pecorano never received a June bill, he was still responsible to pay what he owed. That’s why it’s a good idea to keep track of all changes you make with your cards, either by writing them down, checking your account online or calling the customer service number printed on the back of the cards.

To minimize the possibility of lost or misdirected mail, set up your own system to keep track of your billing dates. The easiest way is to use money management software, which allows you to list all your bills, the dates they’re due and the estimated monthly payment. Each billing period, the software will automatically enter them on a list of upcoming bills.

But long before computers went mainstream, savvy consumers tracked their bills the low-tech way with a pencil, paper and an easy to read calendar. If that’s all you have, it still works fine. Some consumers like to use index cards. Others prefer to keep a list in a notebook. One way or another, write down the name of the company, your account number, the address for bill payments, the number to call for customer service and the payment due date. Mark the due date on the calendar.

No matter how you track you bills, check your balance if you don’t have a billing statement in your hands at least 10 days in advance of the due date. Don’t wait for the statement. It may never arrive.

In Pecorano’s case, the best option would have been to call the card issuer, explain the error and ask for a fee waiver. Credit card issuers will often waive fees and late charges as a one-time courtesy for customers with a long and solid payment history. I’ve asked Chase to review his account. I’ll let you know the response.

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