A credit card statement is a document sent by a credit card issuer once per month detailing the cardholder’s account activity, including payments made toward the account balance, purchases, balance transfers, cash advances, and fees and interest charges incurred. Credit card statements also show the cardholder’s new balance, previous balance, available credit, and any past-due amounts. A credit card’s account number, payment due date, grace period, and interest rate are all listed on its monthly statement, too.
In other words, a statement is a periodic summary of a credit card account’s key information. True to that, your credit card statement - also called a billing statement - is filled with valuable information about paying off your balance. It will detail any fees or penalty rates you’ll incur for paying late, and you’ll be able to see how long it will take you to pay off your balance by only paying the minimum.
Usually, the statement will include a payment coupon that you can fill out if you want to pay your bill by mail or in person. The statement will also list any changes to your account terms since the last billing cycle.
Traditionally, credit card statements have been physically mailed to cardholders. But many card issuers have a “paperless” option now that gives access to all credit card statements online.