How long to keep credit card bills and receipt?

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I've doing a bit of spring cleaning here in my place, and a bulk of the paperworks which I have to decide whether to "keep or throw" are those billing statements and transaction receipts from my credit card. I have been keeping the statements ever since I started having the card, and that was already several years ago. I don't know If which ones to keep and which ones to put on the trashbag. Can you help me decide? How long will you put your personal credit card paperworks? Or do you throw them away once they're paid? Is it really advantageous to keep the records? If I throw them away, how should I do it? considering that these records have sensitive information on it. Should I burn all the paper? Thanks in advance for your responses.