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The Standard Chartered credit card statement is essentially a summary of your credit card activity for a particular billing cycle. By downloading the Standard Chartered credit card statement, you have a detailed account of all your credit card transactions, earned rewards points, and outstanding account balances.

How to Check Credit Card Statement

Here’s how you can sign up for an e-statement service:

  1. Login to your online banking account

  2. Explore ‘eStatements and eAdvices’

  3. Hit "Sign Up Now" in "About Statements" and experience the ease of eStatements!

 

Once you have completed this process, you can proceed with viewing your e-statement:

  1. Log in to Online Banking for your statements

  2. Click on ‘eStatements and eAdvices’ – it's your one-stop shop for all your statements

  3. View or download statements for the past two years under ‘View eStatements’

How to Understand Your Credit Card Statement Better

Here are the key components to pay attention to:

1. Account Summary:

  • Statement Period: Dates covered by the statement

  • Opening Balance: Amount outstanding at the beginning of the period

  • Closing Balance: Your remaining balance at the end of the period

  • Minimum Payment Due: Minimum amount required to avoid late fees

  • Due Date: Last day to make the minimum payment without penalty

2. Transactions:

  • Dates: When each transaction occurred

  • Amounts: Charge or credit amount for each transaction

  • Descriptions: Details about each purchase or credit

  • Merchant Names: Where each transaction took place

3. Fees and Charges:

  • Interest: Any accrued interest due to late payments or exceeding your credit limit

  • Late Fees: Charges incurred for missed payments

  • Annual Fees: Yearly charges associated with your card

  • Other Fees: Additional charges like cash advance fees or foreign transaction fees

4. Payment Information:

  • Previous Payments: Your recent payment history and amounts

  • Payment Options: Ways to make your next payment

  • Payment Address: Where your statement and payment reminders are sent

5. Additional Information:

  • APR (Annual Percentage Rate): The interest rate applied to your outstanding balance if you carry a balance over

  • Available Credit: Your remaining credit limit after accounting for the outstanding balance

  • Rewards and Offers: Any points, cashback, or special offers earned during the statement period

  • Contact Information: Customer service phone number and website address for assistance

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How is the Minimum Amount Due Calculated

Okay, let's dive deeper into understanding your minimum due amount:

1. Imagine your credit card as a revolving loan:

  • Every purchase adds to your "borrowed" amount, the outstanding balance.

  • You don't need to repay everything at once, but the bank expects small monthly payments.

2. Enter the minimum due amount:

  • It's the minimum you must pay each month to avoid late fees.

  • In this example, it's 5% of your outstanding balance on statement generation (25th July).

3. Calculating Your Minimum Due:

  • Track your purchases: Note the dates and amounts you spend with your card.

  • Statement generation: On the 25th, the bank takes a snapshot of your balance (e.g., ₹13,000 in this case).

  • Minimum due calculation: 5% of your statement balance, here at ₹650.

  • Payment deadline: Pay this minimum by the 5th of next month to avoid fees.

4. Beyond the Minimum:

  • Paying only the minimum keeps you in debt, like rolling over a small loan each month. Interest will accrue on the remaining balance (₹12,350 here) after the grace period.

  • To avoid debt snowballing, aim to pay more than the minimum whenever possible.

Frequently Asked Questions

How can I get my Standard Chartered credit card statement?

You can download your Standard Chartered credit card E-statement online or avail it offline. The SCB credit card statement online can be accessed via the netbanking facility or via the SC Mobile app. To view your Standard Chartered credit card statement offline, you can avail facilities such as SMS banking, call the customer care helpline number, request to receive your credit card statement by post, or simply visit the nearest customer care executive and request for your credit card statement in person.

How can I view my credit card statement online?

Online Standard Chartered Bank credit card statements can be viewed by availing the net banking facility or mobile banking facility. In case you opt for a netbanking facility, simply log into your SCB net banking account and go to ‘Cards Services’. Next, click on ‘Card Information’ and you can download your Standard Chartered credit card statement for a particular bill cycle. In case you opt for a mobile banking facility, log into your SC Mobile App and go to ‘Balances’. Select ‘Preferred credit card’. Click on ‘Transactions’ and you can view your transaction history for the desired billing cycle.

How do I download my annual statement from Standard Chartered Bank?

You can download your annual credit card statement from Standard Chartered Bank by availing the net-banking facility. Simply log into your SC net banking account. Go to the ‘Cards Services’ option and click on ‘Card Information.’ Select the statement period as ‘past 12 months’ and submit. The Standard Chartered credit card annual statement will be downloaded on your PC in a PDF format.

What information does my statement contain?

Your statement will detail:

  • Statement period: Dates covered by the statement

  • Opening balance: Amount outstanding at the beginning of the period

  • Transactions: Dates, amounts, and descriptions of all charges and credits

  • Interest charges: Any accrued interest due to late payments or exceeding your credit limit

  • Minimum payment due: Minimum amount required to avoid late fees

  • Due date: Deadline for making the minimum payment

  • Closing balance: Your outstanding balance at the end of the statement period

Can I change my statement delivery preference?

Yes, you can choose to receive paper statements, e-statements, or both. Simply update your preference through Online Banking or contact customer care.

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