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Manage Me 7.0 » » Importance of keeping Credit Card Statements

Importance of keeping Credit Card Statements

This blog will not give you any other saving tip but will tell you about the importance of keeping credit card statements for you as a credit card holder and why you should keep your monthly statements carefully with you.

Credit card statements is sent to the credit card holders every month by the bank or the company from where the card has been issued. The statement is a summarized report of all the transactions done by a card holder in a month or within a billing period. The statement also works as a reminder of late payment fee to be paid by the cardholder or finance charges applicable to the card.

Credit card  statement generally carries following information with it:

  • A detailed particular of the card holder like his or her name, billing address, and other such information.
  • A 16 or 15 digit credit card number mentioned on the statement. This number can be given for any reference for transaction.
  • It gives the transaction details of a specific month, with available credit limit in the card against the credit limit given by the bank.
  • Payment due date (the due date by when the cardholder needs to make the payments to the bank) and statement billing date (date on which bill is generated from the bank).
  • The minimum amount needs to be paid to keep the credit ratings high. Rest of the amount can be paid later in subsequent months  on which interest will be charged by the bank.
  • The statement covers all the details of the transactions made by the customer including dates and amount of the transactions.

It helps cardholders to keep a check on the amount and bills regularly. However, reading and understanding a credit card statement for newbies is little difficult. In our next blog we will surely come up with the explanation of key terms used in the statements to make it a little easier for you to read and understand it.


 
 
 

2 Responses to “Importance of keeping Credit Card Statements”

  1. The all I need in business, computers, freebies, freeware, health, holiday, home and family, kitchen, self help, technology, webmaster resources… » Blog Archive » Manage Me 7.0 » » Importance of keeping Credit Card Statements
    11. December 2009 um 09:18

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  2. » Manage Me 7.0 » » Importance of keeping Credit Card Statements
    11. December 2009 um 09:47

    [...] See the original post:  Manage Me 7.0 » » Importance of keeping Credit Card Statements [...]

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