What is a credit card statement?

credit card

Timely payment of your credit cards is the key that opens the doors to many credits. To help you with that goal, and allow you to monitor the use you give your cards, there are the account statements. In this article we just explain what a credit card statement is.

 

What is it and what use does a credit card statement have?

What is it and what use does a credit card statement have?

A statement is an official document issued by the financial entity that grants you the credit card. It is intended to provide timely information about the use of your card and the obligation to pay.

Every financial entity has a duty to issue monthly cardholders a monthly statement. This is done by sending it as an attachment by email or by placing a link that takes you to its website. Likewise, this page gives you the option to check your status at the time you consider it necessary.

Proper reading of your statement is very important, as it allows you to better organize your finances. In this you can view the suspicious charges, check the interest rate, cut-off date and the amount to be paid.

 

What information does a credit card statement have?

credit card

In compliance with current regulations, this document includes the following information:

  • Your name and your credit card ID.
  • The date of issuance of the credit card statement.
  • The due date and the minimum payment amount.
  • The detailed list of purchases made, indicating the respective names of establishments, dates and amounts of the acquisition.
  • Information on the cash advances granted, as well as the amount and date thereof.
  • Interest applied according to the rate, amount and period of its application. Likewise, the interest rates that govern for the following period.
  • The payments made by the holder with the date and amount thereof.
  • The balance due to date, as well as the amount of available credit.

For you to have more benefit from your credit cards, it is important that you review and analyze your statements monthly.

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