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Understanding your credit statements

  • Updated

A credit statement is a summary of all transactions, applicable fees, and interest charges for a statement period. You can view statements online from your Neo account for free. Paper statements are also available for a monthly fee of $2.50.

Values on credit statements

Debits show incoming money and credits show outgoing money. Neo's statements use positive values for debits and negative values for credits.

Plus (+) or positive symbol

It's a debit in the Payment, Account Summary, and Transactions sections, but a credit in the Rewards section.

Minus (-) or negative symbol

It’s a credit in the Payment, Account Summary, and Transactions sections, but a debit in the Rewards section.

Payment

New Balance

Your statement balance for the statement period that needs to be paid in full to avoid interest charges.

Minimum Payment

You need to pay this amount to keep your account in good standing, but interest is still charged.

Due Date

Your statement balance should be received before the due date to avoid interest charges and keep your account in good shape.

Rewards

Cashed Out

The total rewards amount cashed out to your credit account, Money account, or the Neo Store.

Total Available

The total rewards amount that is available for you to cash out.

Account Summary

Previous Amount Owing

The previous amount owing was the last statement balance.

(-) Payments

The sum of payments that Neo received from you during the statement period.

New Purchases & Debits

The sum of your spending during the statement period.

(-) Rewards & Credits

The sum of your returns to any merchant during the statement period.

(-) Rewards & Cashed Out

The total rewards amount cashed out to your Credit,  Money account, or the Neo Store during the statement period.

Cash Advances

The amount of cash advances you've taken out during the statement period.

Fees

Any fees (such as rush card replacements, perks subscriptions, or paper statement fees) that were charged to you during the statement period.

Interest

The total interest charged for any overdue balances, or cash advances taken out during the statement period.

New Owing Amount 

The amount you owe on the current statement period.

Total Credit Limit

The amount you can spend on your credit account.

Credit Available

The amount currently available to you for spending. To calculate this amount, subtract the New Amount Owing from your Total Credit Limit.

Amount Past Due

Any missed Minimum Payments from your past statement periods.

Amount Over Credit Limit

The amount you’ve spent beyond your credit limit.

Annual Interest Rate (Purchases)

The annual interest rate you’re charged on your unpaid balance.

Annual Interest Rate (Cash Advances)

The annual interest rate you’re charged from the day you’ve withdrawn cash from the ATM.

Transactions

Debit and credit transactions

Debit transactions are purchases, cash advances, and credit transactions are refunds, payments, or cash out rewards.

Refunds are not considered ‌payments towards your credit account. You’re expected to pay a minimum payment towards your credit account on each statement period.

Payments to your credit account

Payments can take up to 5 business days to be processed on your account. 

To make instant payments, get a Money account.

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