Credit Card Statement: These five things you must check if you come to Credit Card Statement

Credit card statements provide information about how customers have used the credit card for the billing period. One should always read the credit card statement carefully to look for unclear and suspicious transactions. According to experts, credit card statements also help users to maintain credit score. If you use a credit card and you have a credit card statement, then you should check some important things

Transaction fee

Consumers should check and understand the charges that come with a credit card bill. Many times banks charge for spending more than the sanctioned limit and also charge interest on unpaid amounts. There may be other charges, such as late payment fees and processing fees. Monitoring credit card details helps users.

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Upon reviewing the transaction, users can identify whether any unrecognized transaction has occurred from them.

Credit limit availability and total outstanding

Credit card statements indicate credit limit availability and total outstanding balance. This suggests users to pay the total amount due every month to avoid any extra charges. The total amount includes all EMIs that they will have to pay along with the fees charged in the given billing cycle.

Reward balance

Users should generally use the reward points accumulated before the expiration. The credit card statement also briefly summarizes the new offers available on the credit card, which can be beneficial if other details are missed.

Account change

Any change in the terms and conditions of the credit card agreement can usually be detected in the monthly details sent, and can be missed if you haven’t seen them.