Skip to main content

8 Things You Must Check in Your Credit Card Statement

8 Things to Look for in Credit Card Statement


credit card statement check

Credit cards have become a vital part of everyday life as an easy-to-pay alternative for most daily purchases, making transactions simple by reducing the burden of carrying cash in our pockets. The number of credit card users in India increased to 52 million in 2019 and is predicted to expand at a CAGR of more than 25% between 2020 and 2025.

The nicest thing about credit cards is that they are more secure and safer than debit cards, since they provide greater protection against purchases made online or in physical places. They also have other advantages, such as international acceptance, payback points, incentives, cash withdrawal from ATMs like debit cards, ease of use during crises, and so on.


If you use plastic, it's critical that you comprehend the credit card statement you receive at the conclusion of your payment period. Here are eight things you must check in your credit card statement:

1) Account Summary: 

When you receive your credit card statement, look at the account summary first. Here you may see your credit card balance, opening balance, current cycle transactions, interest charged since your last billing cycle, fees charged, cash advances, and statement closure date. Payments made after the billing cycle will not appear on your current statement. Log in to your account using your credentials to view your most recent activity.

2) Payment Due Date: 

This is an important element to remember when reading the statement. Banks anticipate credit card users to pay their bills on this date, but some customers misinterpret this word and pay their bills on the "Payment Due Date," which results in late penalties and interest on the unpaid amount. If you pay by cheque, it takes around 3 days for the bank to clear it. It is recommended that you deposit your cheque a week in advance to prevent paying late fees.

3) Minimal Amount owing: 

If a credit card user is unable to pay the whole amount owing at once, the card issuer will allow them to pay a minimal amount to avoid paying late penalties. Even if you have paid the minimum amount required, interest will be applied on the balance until it is paid in full. The interest rate varies from card to card.

4) Total Amount Due: 

In contrast to the minimum amount due, the total amount payable includes interest on the outstanding amount, any late fee, carry over amount from the previous billing cycle, service costs, penalty if applicable, and other charges.

5) Grace Period: 

Every credit card customer has three days to settle the outstanding total due amount listed on the statement. No interest will be charged on any transactions made during this time period. According to the RBI, if a credit card customer fails to pay their dues after the grace period, their account will be designated as "past due" and late fines would be imposed. Please keep in mind that the grace period for most credit card issuers begins on the first day of the billing cycle and ends on the payment due date.

6) Reward Points: 

This is one of the main reasons why many consumers like to use credit cards. When you use your credit card to pay for anything, such as shopping, vacation, or dining out, you will earn reward points as a courtesy from the bank. These numbers range from 1 to 10 and can be exchanged for cash.

7) Credit Limit Availability: 

A credit card limit is determined by a variety of things. Your credit limit will be lower if you are a first-time user. The bank determines this limit, and the holder is not permitted to exceed it. Some carriers, subject to restrictions and limitations, enable clients to exceed the limit. To prevent debt traps, it is best to stay within the limits provided by banks.

8) Transaction data

All cardholders must review transaction data as soon as they get their statement. It is a record of all transactions done from the beginning of the cycle to the payment due date. It is your exclusive obligation as a credit card user to thoroughly review all transactions to ensure there are no problems. Another important reason to examine the transaction information is to become aware of your spending habits and to assist you in saving money for the future.

Recent Posts

Popular posts from this blog

Nagarhole National Park Safari Booking Online

Nagarhole National Park Safari Booking Online There is good news for all wildlife enthusiasts and tourists who were appealing to the forest department to introduce online ticket booking system for safari in the Nagarahole national park. All wildlife enthusiasts and tourists wishing and requesting the forest department to begin online ticket booking system for safari in the Nagarahole national park would be happy to know that Nagarhole safari booking online is now active and fully operational. Nagarhole Safari Ticket Booking has been started to bring in more transparency as well as facilitating tourists to plan and book tickets for their safari in advance. It was a demand from the people at large, mostly from Bengaluru, Karnataka and neighbouring states like Kerala and Tamil Nadu who quite often visit the Nagarhole national park to start the online ticket booking system. Nagarhole National Park  Nagarahole (or Nagarhole) name is derived from a windy river named Nagara Ho

JKPDD Bill Sahuliyat Payment, Jammu and Kashmir Electricity Bill Payment

JKPDD Bill Sahuliyat Payment, Jammu and Kashmir Electricity Bill Payment How to Pay JKPDD Electricity Bill Otnline in Jammu and Kashmir? Power Development Department (PDD) is one of the Department of Jammu & Kashmir State Government which takes care for all functions related to transmission and distribution of electric power in the state. The generation sector is looked after by J&K State Power Development Corporation (JKSPDC), which was carved out of PDD in the year 1995. Jammu and Kashmir State comprises of three geographically and climatically distinct regions viz; Arctic cold desert areas of Ladakh, temperate Kashmir Valley and subtropical region of Jammu. Pay Electricity Bill Using JKPDD Website Visit the official website of JKPDD here - http://www.jkpdd.net/ Under Customer Services at the left of the screen, hover your mouse on Bill Payment link and click Make Payment. This url opens - https://www.billsahuliyat.jkpdd.net/ You can quickly pay electricity bill online Jammu

IGL Bill Payment Online, IGL Bill Pay Online

How to Pay IGL Bill Online, How to Pay Indraprastha Gas Bill Online Steps for IGL Payment Online for Customers not registered with IGL Visit the IGL Online Official Website - http://www.iglonline.net/english/Default.aspx On the right of the screen, Under Customer Zone->PNG User->Click on Insta Payment A new window opens where you can Pay IGL Bill Online/Security Deposit Enter your BP Number and click Get Details Your First Name, Last Name, CA Number, Amount Before Due Date, Due Date, Amount After Due Date and Amount to be paid is displayed Click on Pay button Indraprastha Gas Ltd Payment Amount would be displayed. Pay IGL Bill Online by Credit Card, Debit Card, Debit Card + ATM PIN, Internet Banking, Wallet/ Cash Cards, MasterPass, BharatQR. That's it. You have just completed the steps for IGL Bill Payment Online . Register as IGL Customer Visit the IGL Online Official Website -  http://www.iglonline.net/english/Default.aspx On the right of the screen, U