How to Read Your Credit Card Statement

Summary of Account Activity

This is an overview of the status of your credit card account. You’ll find information like:

  1. New Balance – The amount of credit that you borrowed plus any finance charges as of the statement close date. This is the total you have to pay off to avoid interest charges.
  2. Statement Date – The date your bill cycle for this statement ended.
  3. Total Credit Line – Your credit line is your spending limit.
  4. Available Credit – How much of your credit that’s still available.

Payment Information

This section lists the amount you must pay to avoid paying late fees.

  1. New Balance – All the transactions you made in your current statement (billing) cycle and the previous month that has not been paid
  2. Payment Due Date – The date you must pay your bill to avoid a late fee.
  3. Minimum Payment Due – The lowest amount you can pay to have your bill considered paid on time.
  4. Amount Past Due – If you paid less than the minimum payment due in the previous month, this is how much is late.

Account Summary

This is the breakdown of interest charge calculations on your account based on the different types of balances and interest rates you have. Purchases like gas, groceries, Amazon, etc. will show up on the Purchase Plan line.

Payment Stub

The information found here is what you need to pay your bill. If you are mailing a check, you will send it with this coupon.

Transaction Summary

All the transactions, charges, and payments that you’ve made will show up here.

1. Transaction Date – Date the transaction occurred.
2. Posting Date – Date the transaction was posted to your account.
3. Transaction Description – The name of the merchant where the transaction occurred.

Pin It on Pinterest