What is a credit card statement?
A credit card statement is a roundup of all the activity on your credit card over the past month. It contains:
A full breakdown of how much you spent
How much interest (if any) you’re being charged
How much of your credit limit remains.
It also lets you know how much you owe overall, the minimum payment you must make, and when you need to pay it by.
Plus, the info on your credit card statement helps you spot anything that doesn’t look quite right. For example, you could discover unfamiliar payments, unauthorised charges or errors.
How often will I receive a credit card statement?
You’ll usually be sent a credit card statement once a month. But if you don’t owe anything (your balance is zero) and you haven‘t used your card for several months, some credit card providers may not send you a monthly update.
When you do get one, it’ll normally come through either online or in the post – you can choose how to receive it when you set up payment.
Can I change the date I receive my credit card statement?
If you move the date your card payment is due, this then shifts the date your statement is sent out.
You may want to do this if, for example, your monthly payment due date currently falls just before payday. By changing your due date to a day or two after payday instead, this could help you prioritise clearing your credit card balance at the start of the month before any other spending.
Bear in mind...
If you leave it too late in the month to ask your provider to change the date, it might not take effect by your next statement. It may only update by the time of the second statement - check with your lender if you’re not sure.
What do I need to look out for on my credit card statement?
When you get your statement, there’ll be some key information that you need to look out for:
Summary of activity: – this is the big overview that shows how much you owe, your available credit, payments, purchases, cash advances, fees, balance transfers and any interest charges.
Credit card payment due date – the date that your provider will need to receive your minimum payment by.
Minimum payment – the amount you’ll need to pay by the payment due date to avoid any late payment charges and harm to your credit score.
Transactions – shows a full list of everything you’ve spent since your last bill. Each entry on your statement will show where, when, and how much you spent.
Fees – it’s important to check for fees and to report any that appear incorrect to your provider.
Changes to your interest rates – sometimes your interest rates and fees might go up or down, so it makes good sense to double-check. If there are any changes you don’t understand, get in touch with your provider.
Errors or unauthorised charges – watch out for anything that doesn’t seem right. It’s up to you to flag any mistakes or signs of fraud to your credit card provider.
What is the statement balance on a credit card?
Think of the statement balance on your credit card as a snapshot of what you’ve spent and paid off during one billing cycle. This is basically the time between receiving one statement and the next, about a month in length. Your statement balance won’t change until your next billing cycle. It can be easy to mix up your statement balance with your ‘current balance’:
Current balance – this shows what’s happening on your account right now and updates each time you buy something or make a payment
Statement balance – this is more like a fixed snapshot of payments and charges from the end of your last billing cycle.
How to get a credit card statement
If you have an online account, you can choose to be sent a paper statement in the post or go paperless and receive it electronically. If you go paperless:
You should be emailed an alert when your statement is ready to view
You can then log into your account – either via your provider’s website or app – and view or download your current and past statements.
How do credit card billing cycles work?
A credit card billing cycle usually ranges between 27 and 31 days, depending on your credit card provider.
Each new cycle begins with whatever balance you didn’t clear from your last bill.
As you spend, any new transactions, fees and charges built up during this time will show up on your next statement.
It’s important to check your account during billing cycles to look out for any transactions or charges that you don’t recognise.
Top tip
It’s a good idea to hold onto receipts and order confirmations so you can check them against your credit card statement when it arrives.
When is my credit card payment due after getting my statement?
Your credit card statement will state your payment due date. You’ll typically have 21-25 days to make at least your minimum payment.
Credit card providers have a legal requirement to send you your credit card statement at least 21 days before your payment due date.
How do I pay my credit card bill?
You can either pay what you owe with a one-off payment or set up a direct debit with your provider. There are three direct debit options:
Pay the balance in full – pay off the money you owe in full every time you pay your bill.
Make the minimum payment – making the minimum payment usually means you’ll be charged interest on your outstanding balance.
Pay a set amount – if it’s above the minimum payment, this can reduce your monthly interest. Choosing to pay a fixed amount each month on the card can also help with making budgeting easier.
Alternatively, you could make a partial repayment – pay more than the minimum payment but not the full balance. This could therefore be an ad hoc amount from month to month.
If you don’t make the minimum payment on time, you could:
Be charged a late payment fee (this is usually around £12)
Lose any 0% interest offer
Damage your credit score.
Use our credit card repayment calculator to see how you could pay off your balance quicker and save on interest.
How long should I keep credit card statements?
As a general rule, you should keep each credit card statement for at least 60 days. This gives you time to spot and report any errors on your statement. After that, credit card companies aren’t legally obliged to deal with billing disputes.
But you might want to keep your statements for a bit longer, especially if you used your credit card to buy an extended warranty or for any tax-related purchases.
If you have an online credit card account, you should be able to access old statements if you need them. This can save on a build-up of paperwork at home.
Quick tip
If you no longer need your paper statements, make sure you shred them to keep your personal info safe. Don’t just rip up the documents and throw them in the bin.
Compare credit cards
If you’re looking for the right credit card for you, we can help you compare cards from some of the market’s leading providers.
FAQs
What is a credit card statement name?
A credit card statement name is the name of the retailer or business where you made a credit card purchase. It should be as clear as possible so you can easily recognise where you shopped.
It’s important to go through each name on your statement. If there’s a name you don’t recognise, it could be an unauthorised charge.
Can I pay more than my credit card statement balance?
There’s no harm in paying more than your credit card statement balance if your current balance is higher. Any extra you pay will go towards next month’s bill, which can help you stay ahead. If you’ve overpaid enough that your card provider now owes you money, it will show up as a negative balance on your statement. The balance on your statement will have ‘CR’ next to it, meaning you’re in credit.
You can either:
Use up the credit as you spend on your credit card, or
Ask your provider to transfer the money to your linked bank account if it’s a large amount.
Use our credit card repayment calculator to see how you could pay off your credit card balance faster.
How do I report credit card fraud?
If you notice any unusual activity on your credit card statement, you need to contact your credit card provider as soon as possible. If you can’t find the contact number on your credit card statement, try the provider’s website or look on the back of your card.
Can I dispute charges on my credit card statement?
If you see any unexpected charges on your credit card, you should contact your provider. For example, if you’ve:
Been charged the wrong amount for an item
Been charged for a payment you didn’t make
Been charged for an item you didn’t receive
Not received a refund for an item you returned
Not received a statement and have been charged a late payment fee.
Your provider should explain how you can dispute a charge and, if necessary, make a formal complaint.
If your complaint can’t be resolved within eight weeks or you’re not satisfied with the outcome, you can take your case to the Financial Ombudsman Service (FOS). The FOS is a free, independent service that resolves financial disputes fairly and impartially.
Will I receive an annual credit card statement?
You’ll usually receive an annual statement around the anniversary of the date you first opened your credit card account. This will detail your account activity for the previous 12 months, including your total spending, the amount repaid and any interest, fees or charges you’ve incurred.
Can I opt out of receiving credit card statements?
You can choose to stop receiving paper statements through the post and opt in to online statements instead. You should be able to view or download them when you log into your online account or app.
What’s the difference between a bank statement and a credit card statement?
A bank statement provides a detailed summary of the activity in a current account or savings account, showing your deposits and withdrawals over a certain timeframe.
It won’t include your credit card transactions though. These are separate to your bank account and will be shown on a dedicated credit card statement.
But your bank statement will show any payments to your credit card provider from that account.
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Allie has spent her career helping people quickly understand complicated topics, to help them save money and focus on what matters. With almost 10 years’ experience writing, leading and managing content, she is an expert in personal finance and insurance products.
Ele Clark is an award-winning editor who has held leadership roles at Which? and news-stand publications in London and Dubai. She’s appeared across the press and media, including BBC’s Panorama. With almost 20 years’ experience in personal finance, insurance and consumer journalism, she leads a talented team at Compare the Market, creating insightful, accessible content to help people make informed financial decisions.
Charlie is a senior commercial leader with close to a decade of experience across the UK’s leading personal-finance and comparison platforms. Before joining Compare the Market as Head of Commercial in 2024, he held senior commercial roles at TotallyMoney and MoneySuperMarket Group.
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What our expert says...
"A credit card statement does more than confirm what’s been spent, because it also shows how borrowing is taking shape from one month to the next. Reading it properly can make it easier to catch patterns early, understand what’s owed and avoid small details turning into bigger surprises."