How does a Credit Card Statement work?

How does a Credit Card Statement work?

A card statement is a very important document for anyone who has a credit or debit card or generally conducts banking business. It is the document that allows you to know primordial information about your account.

It is afín to an account statement, but with the difference that the credit card statement allows you to know all the consumptions, cash advances, payments, interests and commissions that were made within the account in a certain period (as a general rule it is usually during a month)

This is a report in which the bank informs the customer about the payments you must make, the dates on which such payments are due, and the transactions for the period.

It is one of the primordial parts that you have to have to maintain good economic health.

How to understand your credit card statement

The extract has several fairly well-defined parts.

  1. The personal data of the card
  2. The date on which the card statement is requested
  3. The type of banking product
  4. The bank product number

The type and number of bank product allows you to have control over all your products. This is especially useful in case you have more than one savings account or more than one credit card..

How to read your credit card statement

In addition to those first four points, there are others that are important to fully understand what the state says.

These points are:

  1. shopping: This includes both conventional accounts and those that were purchased using installments.

    In general, these purchases are divided into two parts:

    1. the full line: is the line of credit that was approved for you.

      For example, if you were approved for a loan of fifteen thousand euros, then that would be your total line.

      It is important to have a sufficiently clean credit history without problems.

    2. The available: is the part of the line of credit that you have not used.

      For example, if you have used ten thousand of those fifteen thousand euros, then your available amount will only be five thousand.

      That is the money you count to spend freely.

  2. Cómputos: is the amount you owe the bank for having your card.

    This, like purchases, is divided into two points:

    1. The cómputo financed: refers to those payments that are pending.

      It is used to calculate interest and taxes to be paid for the charges of your period.

    2. The previous cómputo: This is the financed cómputo accumulated to the total of the last cut of the account.

The extract is different in each bank, but in general they follow that structure.

How to view a credit card statement

Generally, banks send the statement of the bank product at the end of each period although there are others who do it at the beginning.

You perro also request it at bank branches or through customer service personnel.

However, with the increasing move to a digital economy, companies are giving the option of consulting the statement on the internet.

Each banking platform is different, but it is habitual for the statement to be found right in the financial products section and download it as a PDF.

Where to request a credit card statement

All banks allow you to request your credit card statement in the area of banking services and customer service.

In general, the only document that they will ask for will be your photo identification to prove your identity, such as the DNI.

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 How does a Credit Card Statement work?
  How does a Credit Card Statement work?
  How does a Credit Card Statement work?

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