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What to Look for On Your Credit Card Statement

Are you the type of person who hides from your credit card statement every month? Do you dread opening it up to reveal that you spent more money than you thought?

Although it may not be your idea of fun, it’s financially responsible to review your credit card statement every month. Not only does this keep you current on your spending, but it allows you to make payment before the due date — and that’s important to your overall financial health.

While there’s no shortage of things to look for on your credit card statement, here’s a good place to start:


This is where it all starts. Even if you have an idea of what your credit card balance is, this is the time to confirm it. This is the total amount of money that you owe.

Maybe you decide to pay it all in full. Or perhaps you pay a chunk of it with the goal of paying the rest next month. Regardless of your strategy, you need to know your balance. 

Minimum Payment

If you’re only able to make the minimum payment each month, this is an important nugget of information. Along with this, your credit card statement will outline how long it will take to pay off your balance if you only make the minimum payment every month. 

List of Purchases

This can be one of the most time-consuming aspects of reviewing your credit card statement. That’s especially true if you use your credit card for almost every purchase throughout the billing cycle.

There are many reasons why you should review your list of purchases, such as:

  • To understand what you’re spending money on
  • To ensure accuracy
  • To ensure that your credit card is not being used by somebody else

Interest Rate

With a variable interest rate, you can expect changes every now and again. Sometimes your rate will go down, but other times it will increase. Knowing your interest rate at all times is important, as it could affect many financial decisions. 

Reward Points

Do you have a reward or cash back credit card? Keep track of your points or cash back on a monthly basis. Doing so ensures that you take advantage of what’s available to you at the appropriate time. This is particularly important if your reward points expire.

Final Thoughts

These are the types of details that you should look for on your credit card statement. Once you get into the habit of reviewing your statement every month, it’ll become second nature. 

Do you regularly review your credit card statements? Does this help you make better financial decisions? 


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