What does monthly statement mean?

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@WalletHub • 07/10/20 This answer was first published on 07/10/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The bill you receive each billing cycle. The monthly statement accounts for all transactions made during the billing cycle, and the back of the statement usually describes some of the basic terms of your credit card agreement or loan. Also detailed on the monthly statement are purchases, payment(s), credit limit, available credit and finance charges.

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Sometimes, additions or changes to your Terms and Conditions are included with your monthly statement. Read these carefully.

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