Takeaways
- Credit card statements are issued to cardholders at the end of every billing cycle.
- Credit card statements show balances and required minimum payments.
- Credit card statements display your total earnings from rewards programs.
- Credit card statements show a summary and detailed view of all purchases made.
- Credit card statements are essential documents that help you budget, make payments on time, and manage your credit cards.
You just signed up for the perfect credit card—now what? Whether you're new to credit cards or a seasoned pro at maximizing rewards, it's essential to familiarize yourself with your credit card statement.
You should review your credit card statement as part of your monthly budgeting and credit management cycle. Credit card statements typically contain the same basic information. Here, we focus on the sections within your credit card statement, what each segment contains, and the key information you should pay attention to. Please note that your credit card statement might display some of this data differently.
Read Also: 7 Surprising Reasons You Should Use Your Credit Card
Take the Next Step:
6 Sections to Your Credit Card Statement
Your monthly credit card statement details your credit card activity, interest payment, and rewards points. Here are the major sections to know your credit card statement:
1. Payment Summary Section
The payments summary section gives you a snapshot of vital payment information. You can use this section to track when you need to make payments. Here’s what it tells you:
- Statement Balance: Your statement begins with the total amount of your outstanding balance you owe as of the statement cutoff date. The statement outstanding balance can be more or less than your current account balance because you might have made charges or payments.
- Minimum Payment Due: If your balances exceed $1,000, your minimum payment is roughly 2% of your outstanding balance. For lower balances, you have a flat monthly fee of around $25 to $40.
- Payment Due Date: To avoid a credit score impact, you must make the minimum payment each month. You can set up recurring payments to ensure you meet this minimum monthly.
- Late Payment Warning: This section reminds you that you are required to pay your monthly minimum and spells out the exact fees you will incur. Some credit card providers also increase your annual percentage rate (APR) if you don’t pay on time.
- Minimum Payment Warning: Some credit card statements make it easier to calculate how long it would take to pay off your outstanding balance if you only made minimum monthly payments. In this section, you will see a table showing how many years it would take to pay off your debt and the total amount of payments plus interest.
Smart Money Move: Credit card debt is one of the most expensive types of debt you can have. High APRs can cause interest payments to balloon out of control. Ensure that you pay off your credit card bill in full each month. If, for some reason, you can't pay the entire balance, make sure to pay the minimum payment at least to avoid late fees and hits on your credit score.
>> Mastered credit card basics? Try learning more about Credit
2. Account Summary
The account summary section shows your credit card company's calculation for your outstanding statement balance.
This section provides a concise summary calculation. It takes your previous statement balance, subtracts payments or credits, and adds any monthly credit card purchases. From there, it adds any credit card cash advances, balance transfers, interest, or fees charges. This formula ends with your new statement balance.
This is the section to visit if you ever need to find your approved credit card limit, available credit, or approved cash advance amount.
Smart Money Move: Knowing your credit card limit is essential. You can boost your credit score by increasing your credit limit and decreasing your outstanding debts. This will improve your credit utilization, which is a significant factor in determining your FICO or VantageScore.
Our Picks: Best Credit Cards of 2025
3. Rewards Summary
Finally, there is a section you will want to know, like the back of your hand: the rewards summary section. There are many types of credit cards, but if you have a high credit score and maintain an excellent credit history, you can earn rewards.
If you have a cash back card or travel points card, it’s time to pay attention.
What your rewards summary shows:
- Points or Rewards Program: Most statements begin with describing your rewards program. For example, this section could say "1 mile per $1 spent on all purchases" or "5% cash back on all purchases."
- Breakdown of Earnings: More nuanced travel rewards programs break out your points or miles earned in each spending category. This is particularly true if you have a tiered reward system, like 1% cash back on dining and 5% on travel.
- Total reward earned: For travel rewards cards, you will see the total points or miles earned. Credit cards usually break this out for the life of the card and the current statement period.
Smart Money Move: Track your rewards points as much as your payments and interest charges. Your miles or points could give you the perks you need – free flights, product discounts, or cash back into your high-yield savings account. Rewards cards are only as good as how much you use them. Take advantage of these perks.
4. Information About Your Account
Your account information is detailed on an informational page on your credit card statement. Here’s what it houses:
- Information About Making Payments: Details about what currency (USD) must be used to pay your outstanding balance or minimum payments.
- Details Reported to Credit Bureaus: There should be no surprises here. Credit card companies say they can report missed payments and account defaults to the credit bureaus.
- Information About Calculating Interest: This section details how your card calculates interest charges for purchases, balance transfers, and cash advances.
- Ways to Avoid Paying Interest: You need to know how many days to pay your balance before incurring interest charges. For example, your account might stipulate that you have 21 days after the closing of each billing to pay your balance to avoid interest charges on new purchases made in the month.[1]
- How to Change Your Credit Limit: If you have a good account payment history, you can request a change in your credit limit. This section details who to contact.
- Details on Fixing a Mistake: Credit card companies make mistakes, too. If you find one on your statement balance, this section details who to call and where to report the error.
Smart Money Move: The account information section of your credit card statement is boilerplate. However, you can use it to find out who to contact to increase your credit limit or if you find a mistake. The credit card contact information is unlikely to change, so you can refer to this section as needed.
5. Account Activity
This section details your monthly account activity, including your payments, credits, and purchases.
- Payments: You should check this section monthly. It should show all your payments made to reduce your balance.
- Credits: Online shoppers know that you might make a purchase only to find out you don’t like what it looks like in person. When you return the item, your credit card will be credited. Review this section to ensure that everything has been accurately captured for the month.
- Purchases: This is the heart of your credit card statement. It details each payment you made throughout the month. Spotting any unrecognized charges could save you time and money. Contact your credit card company to get these charges removed and report potential fraud.
- Fees: Credit cards that offer exclusive travel or cash-back rewards might charge an annual membership fee. This section outlines membership fees and minimum charges for late or missed minimum balance payments.
Read Also: 9 Steps to Protect Yourself from Credit Card Hacks
Smart Money Move: Making timely payments and getting credit for them is one of the best monthly financial moves you can make. Review your payments and credits to maximize the benefits of doing this on time. Skim your statement to ensure there are no fraudulent charges. Plus, during this review, you might spot recurring subscriptions you can cancel to save money.
6. Interest Charges
The interest charges section of your statement tells you:
- Annual Percentage Rate applied to each category: purchases, cash advances, and balance transfers.
- Balances subject to interest rates for each category and interest charges for the period.
- Billing period days correspond to the number of days in the month of the credit card statement.
Smart Money Move: Understand the calculation for each category of spending. In a perfect world, you shouldn't be accumulating interest. This section will be uneventful if you make on-time payments and manage your credit card debt. We recommend checking it for accuracy.
>> How much should you spend with credit cards? Read about the 50/30/20 Budget
Smart Summary
Credit card statements offer you a trove of information. If you manage all your billing online, you can find your statement on your mobile app or online web portal. Alternatively, you might receive your statements in the mail. In either case, check your credit card statement monthly to review the accuracy of charges, internet payments, and rewards points. Knowing the ins and outs of your credit card statement gives you the power to manage your debts and improve your personal finances effectively.
You Might Also Like to Plug-and-Play:
Smart Money requires our expert writers to rely on trusted primary sources—academic research, government reports, expert interviews, original reporting, and peer-reviewed data—to deliver precise and up-to-date content. All of our content is thoroughly fact-checked. We also incorporate relevant research from reputable publishers when it aligns with our editorial focus. For a closer look at our rigorous journalistic standards, explore our editorial guidelines.
(1) Consumer Compliance Outlook. An Overview of the Regulation Z Rules Implementing the CARD Act. Last Accessed April 17, 2025.
