How it works

Here's what you get back

No sign-in needed to look. This is an example built from made-up numbers, laid out exactly the way your own statement would be.

accrue

Accrue means interest adds up over time, a little each day.

annual fee

A yearly charge some cards apply simply for having the account open.

APR

Annual Percentage Rate — the yearly cost of borrowing on your card, shown as a percentage. It applies to balances you carry past the due date.

authorized user

Someone you have added to your account who can make charges on it. You, as the primary cardholder, remain responsible for what they spend.

available credit

How much of your credit limit is still free to use right now.

average daily balance

The average of what you owed on each day of the billing cycle. Most issuers calculate interest against this rather than your final balance.

balance subject to interest

The portion of your balance that interest was actually calculated on for this cycle. It is usually smaller than your total balance.

balance transfer

Moving debt from one card to another, usually to get a lower rate for a while. Transfers often carry an upfront fee and their own interest rate.

billing cycle

The stretch of days a statement covers, usually about a month. Charges made after it closes appear on your next statement.

cash advance

Withdrawing cash from your card. It usually starts accruing interest immediately at a higher rate, with no grace period.

chargeback

A formal dispute asking your issuer to reverse a charge. Different from simply asking the merchant for a refund.

closing date

The last day of the billing cycle. It is the day your statement balance is calculated — not the day payment is due.

compound interest

Interest calculated on interest already added to your balance. It is why an unpaid balance grows faster the longer it sits.

credit limit

The most you can charge to the card at one time, set by the issuer.

credit utilization

How much of your available credit you are using, as a percentage. Lower is generally better for credit scores.

current balance

What you owe right now, including anything charged after the statement closed. It is often different from the statement balance, which is why the two numbers rarely match.

daily periodic rate

Your APR divided into a daily figure. Issuers use it to compute interest on each day's balance, which is then added up for the cycle.

deferred interest

A promotion where interest is being tracked quietly in the background. If the balance is not fully paid before the promo ends, all of that accumulated interest can be charged at once.

due date

The day your payment must arrive to count as on time. Paying after it can trigger a late fee and, eventually, a penalty rate.

foreign transaction fee

A small percentage added to purchases made in another currency or through a foreign merchant.

grace period

The time between your statement closing date and your payment due date. Pay your full balance within it and you usually avoid interest on new purchases.

interest charge

The cost the issuer adds for carrying a balance past the grace period.

late fee

A one-time charge added when a payment arrives after the due date. Asking the issuer to waive a first late fee is a common and reasonable request.

minimum payment

The smallest amount the statement lets you pay to stay current. Paying only this keeps the account in good standing, but the rest keeps accruing interest.

over-limit fee

A charge for exceeding your credit limit. Issuers can only charge it if you previously opted in to allowing over-limit transactions.

payment allocation

The rules deciding which of your balances a payment pays off first. Anything above the minimum generally must go to your highest-rate balance.

penalty APR

A higher interest rate an issuer is allowed to apply after a late payment. It is often printed on statements even when it is not the rate you are currently paying.

previous balance

What you owed when the last billing cycle closed, before this cycle's payments and charges were applied.

promotional APR

A temporary lower rate — sometimes 0% — that applies for a set period. When it ends, the remaining balance moves to the regular rate.

statement balance

The total you owed when this billing cycle closed. Paying it in full by the due date usually avoids interest on purchases.

statement credit

Money the issuer puts back on your account, reducing your balance — from a refund, a reward redemption, or a correction.

variable APR

A rate tied to an index like the U.S. Prime Rate. The printed number is today's rate — it can move up or down as that index changes.

Official help

Free resources from U.S. government agencies. These links open in a new tab and do not include any of your statement data.