Typically, a credit card statement is a record of all credit card transactions carried out in a billing cycle. To ensure that there is no transactional error in it; individuals must make it a point to review their monthly statement carefully. Consequently, they must equip themselves with the knowledge of how to get credit card statements both online and offline.
Take a look at the following pointers to learn more about this subject and much more.
How to get a credit card statement?
Credit cardholders can check their credit card statement both online and offline. However, they must be familiar with the accurate steps of doing so.
For instance, NBFCs must extend credit card statements to their customers at least 21 days before their scheduled payment due date. It is done to facilitate easy repayment of credit card bills. Generally, credit card statements are sent via mail.
However, credit cardholders may opt for paperless statements or check such financial records online. Consequently, in the former case, they would receive the statement via email. Similarly, in the latter case, they would have to log in to the online portal of their respective credit card issuer to avail instant access.
Also Read Steps To Reach Perfect Credit Score
For example –
For paperless billing
Suppose, individuals with the Bajaj Finserv RBL Bank SuperCard, want to opt for paperless credit statement instead of availing their statement via mail. In such a situation, they would have to enrol in the paperless billing option. Consequently, they would start receiving their monthly statements via email and would facilitate the entire process of repaying credit card bills successfully. Regardless, credit cardholders should make it a point to share their registered email-id to facilitate the process.
For net banking
Likewise, the customers of Bajaj Finserv can log in to the NBFC’s net banking portal and view their credit card statement at leisure. Conversely, if they are not a registered user of such an online facility, they can sign up for the same by entering their 16-digit credit card number. Subsequently, they can either view the information online or download it to access it freely.
Additionally, the NBFC also enables credit cardholders to check their credit card statement by signing up with a simple SMS. Further, they provide pre-approved offers on credit cards which make the application process simpler and easier and read more about Credit Score Factors.
These offers are also available on numerous other financial products including business loans, home loans, loans against the property, personal loans, etc. Check your pre-approved offers by offering details like name and contact information.
Regardless, to ensure it, they need to be thorough while checking their card statement to track their expenses better and also to rectify transactional errors.
Things you need to check in your credit card statement
By inculcating the habit to read a credit card statement correctly, individuals would be able to identify any transactional error effectively. In turn, it would come in handy to rectify them at the earliest and hence, minimise the risk of overpaying.
Scrutinising these following would help you to keep a better tab on credit card expenses. Further, it would help reduce them significantly, thus promoting effective financial management.
- Statement date – The date on which the credit card statement is generated is the respective statement date. However, in case of default, it is the first day from whence interest is calculated on dues.
- Payment due date – The date by which credit cardholders are expected to repay their debts.
- Grace period – The period during which credit card bills can be repaid without attracting any interest.
- Transactional details – An entire record of all the expenses met through credit card. Helps track expenses better.
- Unused credit – The amount of funds still available for expenses, vital to help prevent overspending.
- Minimum due – The minimum amount paying which cardholders can reduce their interest burden significantly.
Other than these, they should also check their accumulated reward points they would be able to analyse the benefits and offerings of their credit card better. It would further help them to get the most out of their credit card and enable effective financial management.
Hence, individuals can track their expenses better by opting for net banking facilities and solve their doubts about how to get a credit card statement each month. Further, learning about the accurate ways of reviewing their statement would come in handy for better financial planning and usage of the card as well.