Billing Statement

If you are a new credit card user, you must be wondering what is billing statement. A billing statement refers to a monthly report that includes all your transactions for the mentioned time period, the minimum due amount, the full amount that you owe and other details. You may receive these statements online, in your registered email address or on WhatsApp, at the end of each billing cycle.

Along with the minimum due amount, it also includes the interest charged on your credit card, if applicable on a previously unpaid amount. Credit card issuers provide you with this statement beforehand so that you do not miss out on your credit card payment. Delayed or missed payments lead to late payment charges and other consequences.