What Is a Credit Card Statement?

Payment information

This section can give you quick insight into your financial obligations for the credit card. It covers:

• New balance as of the statement closing date: Total amount you owe on the card at the end of the billing cycle
• Minimum payment: The minimum amount you must pay by the due date to avoid late fees and penalties
• Payment due date: The date by which your payment must be received to avoid late fees and interest charges

Transactions

While your account summary shows balance information on a high level, the account activity section provides a detailed breakdown of each transaction that occurred during the billing cycle. Here, you'll find a list of all purchases, including merchant name, purchase date, posted date and transaction amount. You’ll find similar details about payments or credits applied to your account, interest charges and other transactions, such as cash advances.

Late payment and minimum payment warnings

Late payment and minimum payment warnings let you know what happens if you pay late or only make the minimum payment due:

• Late payment warning: This section lets you know what your late payment fee could be and warns you of penalty APRs for late or missed payments.
• Minimum payment warning: This warning states that if you only pay the minimum amount due, you will end up paying more in interest on the unpaid balance due and it may take longer to pay your total balance.

Interest charges, fees and interest rates

Depending on your credit card issuer, you may have a separate section dedicated to your interest and fees, including:

• Year-to-date totals for interest charges and fees
• Interest calculations and charges for this billing cycle
• Different interest rates that may apply to your account, such as a purchase APR, cash advance APR and balance transfer APR

Reward summary

If you can earn rewards, such as points or miles, with your credit card, your statement might include a section dedicated to those rewards. This section can look a little different depending on the issuer. It might consist of your total rewards earned for the billing statement and a summary of how you’ve earned and used them.

Account notifications and information

You may not always have updates or notifications associated with your account. However, if there are important changes, this section can help you keep up with them.

This section can vary by credit card issuer, but it may include:

• Updated terms and conditions for your account
• General information about your card, account or payments

For example, if your credit card APR is going to change, your issuer must give you a 45-day notice. That could be included in this section.

Credit card statements can be long, but they are important tools. Alongside regularly reviewing your credit report, reviewing your statements can help you watch out for financial fraud and keep your finances on the right track.

Disclosure: This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.