As the name suggests, a current balance on a credit card refers to the total amount owed on the day you check your account. Thus, the current balance may be a more up-to-date reflection of your debt than the statement balance is. The statement balance and current ba...
getty images your current balance includes purchases you’ve made since your last billing cycle. if you've ever checked your credit card statement balance and noticed that it's different from your current balance, you can relax. you're not losing your sanity. the reason for the ...
Don't miss:See a negative balance on your credit card? Here's what you can do about it The balance reported to the credit bureaus appears on yourcredit reportand can affect yourcredit utilization rate, which is the percentage of the total credit you're using. The higher your balance, the...
Current balance vs Statement balanceHow to find your statement balance and current balanceHow your balances affect your credit scoreShould you pay your statement balance or current balance?How your current balance affects the credit utilization ratioWhat happens if a statement balance isn't paid?Using...
Understanding the difference between the statement balance and the current balance on a credit card can help you to manage your payments.
Your statement balance typically shows what you owe on your credit card at the end of your last billing cycle. Your current balance, however, will typically reflect the total amount that you owe at any given moment. Billing cycle times frames may vary if an issuer allows cardmembers to chang...
Unlike your statement balance, which is fixed at the end of the billing cycle, your current balance is a real-time total of all charges, interest, credits and payments on your account. Your current balance could change each time your card is used. Butpending transactionsaren’t included unti...
Pay the statement balance: This means paying exactly what’s due. If you pay off the total statement balance by the due date, then you won’t pay interest on purchases from the last billing cycle. Pay the current balance: This covers your statement balance plus any charges you’ve made ...
statement balance Your statement balance is what you owe for a billing cycle, but your current balance is a running total of your unpaid charges and interest. Your statement balance shows you what to pay each month to avoid interest charges. Credit bureaus can’t see your current balance; ...
You may find that you're presented with two different numbers when you check your credit card balance by phone or online. You'll see both a statement balance and a current balance. These balances can be different, and this can be confusing if you're trying to pay your balance in full ...