Anyone who has ever swiped their credit card at a merchant knows how easy it is to use the device for a purchase, but correctly reading a credit card statement can be more complicated. When the statement comes in the mail or through email, understanding your purchase and payment activity becomes a bit more difficult. You might be asking yourself — how do I read my credit card statement?
Your eyes might focus on three primary pieces of data: the credit card balance, the minimum payment and the due date. That’s an excellent start, but there’s a lot more information to take away when you break the statement down piece by piece.
If you use a rewards card, you’ll want to make certain you’re properly credited with points or cash back for eligible purchases. If you’re carrying a balance, you’ll want to pay attention to the card’s annual percentage rate (APR) since that figure will determine the amount of interest being charged. Keep… Read More