Your credit card statement provides valuable insights into your financial activity:
Transaction details: The statement shows your purchases, indicating where and when you spent money. This helps you track your expenses and identify any unauthorized charges.
Payment due date: It specifies the deadline for making your minimum payment or paying the full balance. Timely payments avoid late fees and negative impact on your credit score.
Interest charges: If you carry a balance, the statement reveals the amount of interest incurred. Understanding these charges encourages responsible credit card usage.
Rewards summary: If you have a rewards program, the statement summarizes your earned points or cashback. This allows you to take advantage of the benefits available to you.
Credit limit and available credit: It shows your credit limit and the remaining available credit. Staying within your credit limit is vital for maintaining a healthy credit utilization ratio.