Credit Card Statement | Understand it
It seems ennui to keep all the documents in a chronological order in an archives and then sorting them out. The more hectic thing is to keep all the receipts of your expenditures safe at one place so that when you plan to make a budget of coming month , you can find them and consider them in order to contrive the perfect budget plan. But thanks to the banks or credit card companies who have made your lives easier by providing you bank statements or credit card statements that include the details of the monthly expenditures. So . instead of keeping a bundles of receipts safe and even in a chronological order , you just have to keep few statements in your archives.
You receive your billing statement monthly from a credit card issuer thus providing you with all the details and information that you want to know about your credit card account.Your credit card statement is very important as it maintains your credit card account and ensures that you pay only for the charges that you made to your account.
Credit Card Statement
A credit card statement or a billing statement is a periodic statement encompassing the details of all the purchases and other debts and credits or charges made to your credit card account within the billing cycle.You receive a billing statement of your credit card once in a month.Though , it can be a wordy and lengthy document having each and every detail that you need to know about your credit card. But it is essential for you to read each and every line and understand it.Or at least , review the balance , minimum payment , payment due date , and the list of all the transactions made to the account.
Information Credit Card Statement Includes
The information or details that credit card statement includes are listed below:
- The balance left in your account.
- The minimum payment due date.
- The payment due date.
- Any interest or finance charges.
- Late payment Fee.
- A list of payments , purchases , balance transfers , cash advances , interests or any other debts to the account.
- An interest rate.
- Credit limit.
- Available Credit.
- Duration Of a Billing Period .
- Details of Amount Of Interest and Fees paid.
- Contact details of Credit card issuer.
- Rewards earned or redeemed, if applicable.
You should read these details carefully in order to edit the credit card statement or to understand your credit card statement . Moreover , it can also include the details of minimum payment disclosure that includes the information that how much time it will take to pay off the minimum amount or what will be the late payment charges. Thus , do not be careless in understanding your credit card billing statement.
For more information , contact us at bankstatementediting .