A credit card statement is an overview of the manner in which you have used your credit card for a certain billing period. Credit card statement are filled with numbers, percentages, and terms all of which play an essential role in your total credit card balance.
To enable cardholders to track their expenditures better, the bank sends out its official Bank of Baroda credit card statement to cardholders each month. Cardholders get to view their statement online through e-mail or they can request for a copy to be sent to them through their registered mailing address.
The BOB credit card statements that are to be sent by the bank are comprehensive and contain all crucial credit-related information that will allow the cardholder to understand their spending habits in more detail.
Easy Access: The BOB credit card statement online can be downloaded from your banking app or your email. This is why it is also referred to as the Bank of Baroda credit card e-statement. It is always accessible to you in whatever range of tenure you are looking for.
Zero cost: The Bank of Baroda credit card bill statement is completely free of cost. It can be downloaded for free and enable you to track your spending habits without having to pay a single rupee.
Can help you budget: When you regularly take a look at your BOB financial credit card statements, you can start to allocate certain amounts for certain types of expenditures. In other words, you can create a spending budget. This will not only organize your expenses but also allow you to work toward financial goals in the long term.
Promotes financial discipline: A credit card statement will constantly remind you of your EMI due dates. This can promote you to pay your EMIs in a timely manner and boost your credit score by practicing good financial discipline.
Here are some of the key terms you should be familiar with before you read a Bank of Baroda credit card statement.
Credit card statement period: At the very top of your credit card statement, you will see what is known as the statement period. This is a figure that indicates the number of interest-free days on your credit card. It is uncommon to be charged interest when you use your credit card if you repay the entire due amount within a certain time frame. Your statement period can aid in calculating the interest-free days within which you can make this payment while having to pay nothing additional.
Due date: On the top corner of your card statement, you will see what is known as the due date. This is the timeframe within which you have to pay either the minimum due amount or the total due amount. In case there is a delay when it comes to making credit card payments, your bank might charge late fees and your credit score will be affected negatively.
Total due amount and Minimum due amount: At the top corner of your credit card statement, you will see what is known as the total due amount and the minimum due amount. The total outstanding amount due on your credit card is your total due amount. The minimum due amount is the smallest amount you have to pay to avoid late fees, the deactivation of your card, and a negative credit score report.
Charges: This is a section of your BOB credit card statement that lists the overall charges levied on your card. It is important to be attentive when you read this section since it will aid in verifying the legitimacy of any transactions listed on your card.
Debit and credit transactions: The bulk of your BOB credit card statement is all of the debit and credit transactions from your card. Debit transactions represent payments made using your credit card while credit transactions imply refunds received.
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You can download the Bank of Baroda app (M-Connect plus), or visit their official website and log into your account. Pick ‘Statement’ and input the period for which you desire to see the credit card statement.
You can download your credit card statement for Bank of Baroda by downloading their M-Connect plus Mobile application. Log in to your account through the app, visit the credit card section and you can view and download your Credit Card statement online.
As of now, your credit card statement’s PDF file is password protected. The password is your bank-registered mobile number.