I know that not every of my friends look over their monhtly credit card statement. It can be a big mistake.
You probably wouldn't believe but sometimes you can find a mistake on your statement.
It happens very rare. But when it happens you need to know that you have the right to dispute a charge and the faster
you start taking actions the more chances you'll get positive result. There is preset time period when you can
inform your credit card issuer about the mistake. Credit card porviders usually ask to send your request
in writing. All information about mistakes reporting is provided on your statement. Read carefully
and follow all instructions before sending inquiry.
Another reason for reviewing statement is that
it makes you aware of your available balance, paymnet due date.
By knowing these you can avoid over the limit fees and late payment fees.
It also make a whole picture of your spendings. You can review and analyze expenses and decide where and how you can save,
where you cut it off.
Good to know!
- Credit card statement or credit card bill is a monthly credit card account summary during one billing period.
It reflects all charges, payments and debits made on your card; payment information
such as your current balance, minimum payment due and payment due date, rewards you've earned (if there is some).
You can also find account summary with you current balance, available balance, fees and interest have been applied to
your card.
- Minimum payment warning is also can be found on your monthly credit card statement. This annotation
reflects information on how much money you will need to cover you current balance and how long it will take you
when you will make only minimum monthly payments.
Updated: 4/27/2012