Credit card statements are monthly statements that contain all the details about your credit card purchases, payments and any other credit information for a particular month. It is important to understand the details on your statement as it contains all the information about your credit card including account summary, late payment warnings, monthly interest calculation and all the transactions you have undertaken during the billing period.
Keeping a record of your credit card expenditure via your monthly statement will work as a reminder for you. This allows you to repay your issuer on a timely basis and will allow you to check any extra charge or interest on your transactions.
Total amount due includes all the EMIs you have to pay including the processing fee for the EMI conversions and the interest charges, if any.
2. Check date-wise transactions and taxation
There is a segment in the credit card statement that includes all the transactions you have made using your card during the last billing cycle. These transactions are listed along with the date of every transaction. It also contains time, amount, place where the transaction took place, taxation details for the transaction and other details related to the transaction. You must check all the transactions carefully and in case you find any error, you can immediately contact your credit card provider using the credit card customer care number and raise a complain basis the false or wrong listing.
3. Check the available credit limit
There are 3 types of limits that your credit card statement lists, namely, the total credit limit for your card, available credit limit as on date the bill was raised and available cash limit. Here the available credit limit specifies the amount that is available for you to use, which will automatically increase as soon as you repay the dues for that particular month. Also, as soon as you pay your EMIs, the available credit amount starts getting replenished. Thus, paying your total dues on every credit card bill instead of minimum dues will always be beneficial for you as your limit will start increasing faster within a shorter timeframe.
4. Check other details
You also need to check and verify a list of additional information in your credit card statement such as balance of reward points to know the points carried forward from the last cycle, points earned in the existing month and points lapsed owing to non-redemption. Also, you must check the opening and closing balance of your credit card under the account summary heads in your statement to have a better idea of whether with each credit card payment your limit is getting altered or remaining unchanged.
Equipped with these handy cues, you can always be fully sure of your credit card dues and charges. To make your credit card experience much more safe and beneficial, apply for Bajaj Finserv RBL Bank SuperCard. This card gives you the power and benefits of ‘4 cards in 1’by letting you use it as an EMI card, a loan card, a cash card and a credit card, as per your needs. You can also avail an emergency interest-free loan on your existing credit limit and withdraw interest-free cash from ATMs anywhere on the globe. Apart from this you can earn rewards, cashbacks, and discounts for a host of purchases and transactions. To enjoy this long list of benefits, you can apply for the credit card online here. Moreover, you can check your pre-approved credit card offer to speed up and simplify your application process even more.
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