A credit card helps you stretch your budget and avail products and services you wouldn’t have been able to otherwise. Credit Card application is fairly simple these days, so hurry apply today if you don't have one yet. Keeping track of credit usage is necessary. This is done with a credit card statement. Let us find out all about it.
ON THIS PAGE: What is Credit Card Statement? | Credit Card Statement Benefits | Understanding Credit Card Statement | How to Check Statement Online? | How to Check Statement Offline? | How to switch to e-Statement?
A credit card’s statement or CC statement is a monthly statement that contains information about your card such as payment history, credits, etc. The credit card monthly statement has data on every single transaction.
A CC statement helps you keep an account of all your credit spending.
Your credit card bill statement gives you regular credit card updates, free of cost.
You don’t have to visit the bank to get a summary of your credit spending, you can easily get a credit card online statement.
A credit card billing statement isn’t just for updates of your credit card bills. It also updates you about the latest services offered by the bank.
Your credit card billing statement can also help you to stay updated about rewards and offers.
There are many terms you’d come across on your credit card bill statement that might confuse you initially. Here’s some help.
The total outstanding bill column on your credit card billing statement is a total of unpaid charges in the month. The total outstanding bill on your credit card monthly statement includes your purchases, payments, returns, EMIs, interest, old balance, and other charges.
You will find a minimum due amount when you view the credit card statement. It’s the minimum amount that you are liable to pay so as to avoid late payment charges. Usually, this amount would be 5% of your total outstanding balance.
When you check a credit card statement online or offline, the billing period would refer to the period of time between two bills. Billing periods can range from 20 to 45 days.
The interest-free period mentioned in the statement would refer to the duration in which any amount used doesn’t attract interest. When you get a credit card statement, you’d generally find this to be the period between the first day of the billing cycle and the due date.
Now that you know some of the key terms in order to view a credit card statement and understand it, let us find out how to access it.
Usually, your bank will send a credit card e-statement to your registered email ID on every billing date, in the form of a credit card statement PDF. You can download it from the mail itself.
Another way to view the credit card e-statement is to login to the bank’s netbanking portal. You will find a credit card statement PDF on the portal. You can view it with the credit card statement PDF password. You can also obtain a download of the credit card statement PDF and view it later with the credit card statement password.
Other than these two ways to check credit card statements, the bank would also send you an SMS regarding the same.
The bank sends a credit card statement to your registered address, if you opt for an offline statement. You can ask for a copy by simply calling credit card customer care.
These days, banks encourage customers to opt for a credit card e-statement. It is convenient and safe as it can only be accessed with the credit card statement password set by the bank. If you have opted for a physical statement, you can switch to a credit card e-statement as well.
You simply need to login to the netbanking portal and click on the ‘request e-statement’ option in the relevant menu. The bank then sends an SMS and email alert when your credit card statement PDF is ready with a credit card statement PDF password.
Your credit card e-statement will be delivered to your email and netbanking account every month. If you want a physical statement, you can request for one by calling customer care.
Your credit card balance will be mentioned under the ‘account summary’ section of your credit card statement.
Your credit card statement lists the following:
Payment due date
Minimum amount due
Current outstanding balance
Rewards and rebates