A credit statement, also known as a billing statement, is a document provided monthly that summarizes your transactions. Here’s how to view your credit statements or sign up for paper statements.
Billing cycle
A billing cycle is a one-month period when your credit card transactions are recorded. Your statement is generated at the end of the billing cycle and shows all the transactions you made during that month.
Your credit card statement will show your billing cycle at the top-right on the first page.
Payment section
Payment on your credit card statement shows the new balance, minimum payment due, and the due date.
- The new balance is the amount you owe based on your transactions during your billing cycle. A positive new balance is the amount owing you need to pay and a negative balance shows you have overpaid your credit card and no payment is required.
- The minimum payment due is the least amount you can pay to keep your account in good standing. Being in good standing indicates that you’re managing your credit well.
- The due date is the deadline when your payment should appear in your credit account to avoid interest fees.
Rewards section
Rewards on your statement shows how much cashback you’ve used and what you have available to use.
- Cashed out shows the cashback you’ve used during the billing cycle.
- Total available the cashback you have available to use.
Instalments section
If you signed up for an instalment, the Instalments section on your statement will show your Instalment Balance and Total due within 30 days.
- The Instalment Balance will show how much your total owing balance is for your instalment.
- The Total due within 30 days will show how much of a payment you’ll need to make this month for your instalment.
Credit Account Summary section
Your Credit Account Summary shows previous amount owing, payments made, new purchases, refunds, rewards cashed out, cash advances, fees, interest, and new amount owing. Your account summary shows how your new amount owing is calculated. Any entries with (-) will be subtracted for the calculation.
- The previous amount owing is the total balance of your last statement.
- (-) Payments are subtracted from the previous amount owing.
- New Purchases & Debit are the debit transactions you made during the billing cycle.
- (-) Refunds & Credits are the credit transactions made to your credit account during the billing cycle.
- (-) Rewards Cashed Out is the cashback amount withdrawn to your credit account during the billing cycle.
- Cash advances involve you borrowing cash based on the credit available to you.
- Fees can include charges such as rush card replacements, perks subscriptions, or paper statement fee.
- Interest is the charge for any overdue balances, or cash advances taken out during the statement period.
- New Owing Amount is the amount you owe on the current statement period.
Credit limit information
This shows your credit limit and credit available.
- Total Credit Limit is the limit you can spend on your card at a time.
- Credit Available considers the credit used and shows the credit you have left to use.
Amount Past Due and Amount Over Credit Limit
- The Amount Past Due on your statement shows an amount you owe that is overdue for a payment.
- The Amount Over Credit Limit is how much more you’ve spent than your credit limit.
Annual Interest Rate
The Annual Interest Rate is a percentage that shows the annual cost of borrowing. The Annual Interest Rate is applicable for purchases and cash advances.
List of transactions
The second page of your statement shows your transactions history and transaction details.
Transaction details include:
- Date of the transaction
- Merchant (place) where the transaction was made
- Amount of the transaction
Purchases and debit transactions
Purchases and debit transactions are displayed as positive amounts.
Refunds, payments, and credits transactions
Refunds, payments, and credit transactions are shown with a minus (negative) sign before the amounts