Learning about your credit card statement can help you understand more about your spending habits, while keeping an eye out for fraudulent charges or errors.
Still, to truly benefit from reviewing your credit card statement, you have to know how to read it. Let’s break down a real-life credit card statement so you can better understand your own. Your credit card statement: An example Credit card statements are made up of several different sect...
The payment information section of a credit card statement should also list your minimum payment due. You must pay at least this much by the payment due date to keep your account in good standing. But you can always pay more than the minimum, up to the total balance. Payment due date (...
Always make at least your minimum payment each month by your statement’s due date. If youmiss a credit card payment, not only could your credit score take a hit, but you could also get stuck with late fees and penalty APRs. Miss too many payments and your debt could go to collections...
A payment information box appears near the top of your credit card statement. Here, you’ll likely find: Payment due date:A payment toward your balance must be made on or before this date. New balance:Sometimes also called a statement balance, this is the total of the payments and credits...
"However, most people have access to these statements online now, so you don’t necessarily need to keep a paper copy," Meade says. Even though reviewing your credit card statement might seem boring, it's the most effective way to prevent bigger problems caused by errors and fraud. Catching...
Statement period –The credit card statement period refers to the time period where your transactions would apply. Transactions –Under transactions, you’ll see a few different items. The transaction date is when you made the purchase. The post date is when the charge officially appeared as a ...
Your credit card statement, while not the most exciting document to cross your path on a regular basis, is important to understand. Ideally, you’ll review this document each month, so you should know how to read your credit card statement and what you should to pay attention to. Below is...
How can you avoid paying your credit card bill late? In addition to changing your credit card statement due date, consider the following strategies for avoiding late payments: Set up automatic payments with your bank or credit card issuer.Automatic payments are free and simple to configure. Yo...
The Summary of Account Activity section shows you an overview of your credit card account. You’ll see your previous statement balance, the total amounts of any new purchases, total amount of new payments, and totals of any fees charged. You can also see the statement date to know which ...