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How to Read Your Credit Card Statement?

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A credit card statement is like a summary that is generated at the end of every billing cycle of your credit card. There are many parts that form the credit card statement. If you are not aware of what each of these elements means, you might not be able to analyze your financial statements efficiently. The terminology in credit statements, the numbers and percentages depict valuable information and they have a lot to say! To understand this, one must know how to interpret all these aspects of the report. Get to know about some of these important aspects below:

Statement Period

On the top right corner of your statement, you can find your statement period. This period should be noticed if you want to know about your interest free days. Every credit card offers a particular number of interest free days which are mentioned under this section.

Payment Due Date

You can find your payment due date again with your statement period, over the top corner. It gives you an idea about the minimum repayment required on your credit card. Any payment made after this date can be subject to high late fees and also reduction of credit score.

Minimum Amount Due

While using a credit card, it is necessary to keep a minimum balance. This is recorded in the credit report for the user. One can see this value under account summary in the statement. If you end up paying lesser than the minimum due amount, you might have to pay a fine for it.

New Charges

The new charges segment is a synopsis of the total amount of money charged to the card during the statement period. This amount should be carefully checked to verify the legitimacy of the transactions that are reflected.


The total payments made will be shown in the credit report. Along with this, you can also check the refund information. Some of the refunds take time to process, so it is not necessary that every refund will be shown in the same statement period in which the payment was made.

Closing Balance

This value gives details regarding the amount one owes to the credit card provider. One should aim to pay as close to the closing balance as possible to avoid negative balance.


This is the section where you can find all your transactions. Transactions processed through the credit card until the statement period are shown in this segment. Transaction history, transaction date and its details can be found under this section.

So, next time you are holding your credit card statement, ensure that you pay attention to every single one of these elements!


You can also visit YES BANK's website to know more about their Savings Account, NRI Savings Account and Fixed Deposit Accounts.

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