You will need to pay your statement balance or a portion of it to ensure you do not face fees and penalties. You should pay off at least your minimum payment requirements each month. However, this is not the same as your current balance, as we’ve explained in our statement balance vs. current balance writeup above.
Your current balance refers to all of the unpaid charges on your account up to the date in question. On the other hand, your statement balance refers to all of the money owed on your credit account as of the latest billing cycle.