The credit card statement gives information about how the customers have used the credit card for the billing period.
Credit Card Statement: Nowadays the use of credit card has become common. If you use a credit card, then you will have the details of its transactions in the form of statement every month. The credit card statement provides information on how the customers have used the credit card for the billing period.Also Read:SBI Update: If You Use Online Banking, Then Create Password In This Way, Bank Account Will Be Safe
Statement period
At the top of the bill, you will see the statement period. The statement period is monthly. For example, if your statement period begins on April 12, it will end on May 13. If you want to know the interest free days then this period should be kept in mind. Generally, banks offer an interest free period of 55 days, just make sure you start your statement period without any outstanding balance.Also Read: How to claim insurance policy if the nominee also dies?
Interest free period
It is important for you to know that the “Interest Free Period” starts from the Statement Date and not from the date of your purchase through Credit Card. For example, if you buy on April 12th, you will have interest-free days until June 6th (55 days), but if you buy on May 1, you will only have 37 interest free days.Also Read: Booking for tata tigor ev started company also updated about the price
Payment due date
This is the last date for payment of credit card bill. There are two types of charges on payments made after this date. First, you have to pay interest on the outstanding amount and pay a late payment fee. A grace period of 3 days is given after the payment due date is over.Also Read: Kiara Advani’s heart came on Neeraj Chopra, such praise
Total outstanding
You should pay the total outstanding amount per month, so that there are no additional charges. The total amount includes all EMIs, along with charges incurred during the billing cycle.
Credit limit
You will find three types of limits in the credit card statement, total credit limit, available credit limit and cash limit.
Finance charges
Your statement also shows the finance charge of your account. You can get rid of finance charges by paying at the end of the month’s billing cycle.
Rewards
Your statement also mentions the rewards that you have earned over time. This only applies to credit cards that offer rewards. You can see the total accumulated points in the Rewards column. You can see how many points are added to the new statement from the previous statement. You can also see how many Rewards points you’ve redeemed and how many points you’ve spent and wasted.Also Read: Samsung live online shopping platform launched users can get special benefits
Interest to be charged
Your account statement also contains the details of the total interest charged on your account.
Change in account
Any changes to the terms and conditions of the Credit Card Agreement can generally be traced to the monthly statement sent, and may be missed if you do not see them.
