How to understand a Credit Card statement?

If you use a Credit Card, you will receive a statement every month, which records all the transactions you have made during the previous one month.

Depending on how you have opted to receive it, you will get the Credit Card statement via courier at your correspondence address or as an email statement or both.

You can also view your Credit Card statement online (via NetBanking if you are using an HDFC Bank Credit Card).

The monthly statement is an important document that you must check carefully. If you find an unauthorised or suspicious transaction, immediately contact the bank.

Understanding a Credit Card statement

What are the important things to look for when you view your Credit Card statement?

  • Transactions: Your statement will include a chronological list of all the transactions you have made during the statement period (a one-month period preceding the statement date). Domestic and international transactions may be listed separately. Each transaction will include the date you made the transaction, a description of the transaction and the value. It will also include any credits into your account, such as Credit Card bill payment you may have made or a refund you may have received. These will be marked with a ‘Cr’ next to the amount. Check each item against the charge slips or transaction alerts.
  • Dates: Check the statement date (the date the statement was generated) and, most important, the payment due date (this is the date by which you should pay the total dues to avoid finance charges and late fees)
  • Dues: Check the total dues (this is the sum of all your transactions during the statement period plus any past dues) and minimum amount due (this is the amount you must pay to avoid late payment charges).
  • Limits: Check your credit limit (how much you can spend in a month), available credit limit (the credit limit minus what you have already spent) and available cash limit (how much you can withdraw from ATMs)
  • Account summary: Gives you an overview of how much you paid the bank and how much you spent and past dues if any.
  • Reward points summary: Another important section that highlights how many reward points you have accumulated during the statement period and in total. It also intimates you if any points are likely to expire and points you may have claimed.
  • Offers: Special offers if any are indicated in this section.
  • Important and statutory information: This includes terms and conditions, changes to the cardmember agreement, payment options and information like how to hotlist lost or stolen cards.

Click here to know more about the HDFC Bank Credit Card.

* Terms & conditions apply. Credit Card approvals are at sole discretion of HDFC Bank Ltd

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