How to Read and Understand a Credit Card Statement

Although it doesn’t make for the most interesting reading material, your credit card statement is something you’ll want to get in the habit of checking on a monthly basis.

Why? Because credit card statements are the fastest way to get all the essential details about your upcoming credit card bill.

They provide details on your card balance, minimum payment, interest payments, and so much more. Credit card statements are also one of easiest ways to ensure you’re on track with your financial goalsand that you won’t have any bad surprises when your credit card payment is finally due at the end of your billing cycle.

So how can you go about checking your monthly statement without turning it into an hours-long process? Here’s everything you’ll need to know to efficiently browse your credit card statement each month.

What Is a Monthly Statement?

The monthly statement comes via mail or electronically and includes a breakdown of any new charges on your account (like any recent purchases you’ve made) as well as information on your outstanding balance, minimum payment and interest charges. Your monthly statement is one of the best ways to check and manage the activity on your credit card. Think of it like a prerequisite to your credit card bill that provides a big-picture summary of your credit card balance and payment schedule.

What’s in my Credit Card Statement?

Besides providing the big picture on your credit card account, a credit card statement will also show a few key items, like a list of any fees you’ve incurred in the last billing cycle (such as late payment fees or foreign transaction fees), as well as details on your previous balance and whatever payment you last made.

These statements will also help you track how much of your available credit line is left based on your current monthly balance. Since credit utilization is a key aspect of building your credit score, it’s something worth noting whenever you receive a…



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