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How to Read a Credit Card Statement

A credit card statement is a detailed summary of your account information throughout the course of a billing cycle from a credit card issuer. It provides a detailed review of the most recent billing period, listing all transactions and charges. The card issuer mails the statement soon after the end of each billing period or makes a digital copy available on a mobile app or website.

Knowing how to read a credit card statement is an important part of financial literacy. It can help you track your spending, manage your credit limit, and stay on top of your payment due dates, so you can responsibly maintain your credit card account

Reviewing your statement each month can help you to spot fraudulent charges or errors early, protecting you from potential financial loss. The information also allows you to track your spending, manage your credit utilization, and remember payment due dates, which can help your credit report as well. By staying on top of your statement, you can make informed decisions about budgeting and debt management, aligning your spending with your financial goals.

What you'll see on your credit card statement

Your credit card statement is packed with important payment information regarding your account. Here is some of the essential information it provides:

  1. Account summary. This overview of your account includes your previous balance from the last billing cycle, payments and credits, current balance, credit limit, and available credit. It summarizes key details to give a quick snapshot of the account

  2. Statement balance. This is the total amount you owed at the end of the billing cycle. It includes all charges, interest, and fees accumulated during the last billing period. Purchases that you made after that will not show up on the statement. Paying this amount in full by the due date can help you avoid interest charges and maintain a good credit score

  3. Available credit. This represents the remaining credit you can use on your card. It's calculated by subtracting your current balance from your total credit limit. Monitoring your available credit can help you manage spending and avoid fees for exceeding the limit

  1. Transactions in the billing cycle. This list includes all the purchases, payments, and adjustments made during the billing cycle. Each transaction listing will include the date, merchant, and amount spent or refunded, allowing you to track your spending and ensure accuracy

  2. Minimum payment due. This is the smallest amount you must pay by the due date to avoid late fees and negative impacts on your credit score. Paying only the minimum will keep your account in good standing, but paying more will reduce your balance faster and minimize interest charges

  3. Payment due date. The deadline for payment to avoid late fees and potential damage to your credit score

  4. Total reward points earned. For rewards credit cards, this section shows the number of points or cash back earned during the billing cycle. You can track your rewards accumulation and make the most of your credit card’s benefits

When to expect your credit statement

Credit card statements are issued after the end of each billing cycle, a fixed period that lasts about one month.

Credit card bills generally are due on the same date each month, so the length of a particular billing cycle might change slightly to account for the difference in the number of days in the month.

You can ask your credit card company to change the start date of your billing cycle, so it lines up better with your paychecks or other loan payments.

It’s important to be aware of your billing cycle and when your credit statements are issued. If you remember that your billing cycle ends before your statement is issued, you can time payments and purchases to your benefit.

For example, credit card issuers typically report account activity to the credit bureaus at the end of each billing cycle. This information can affect your credit score, which includes something called a credit utilization rate. The credit utilization rate indicates how much of your available credit you are using, and if it gets too high it can lower your credit score. The general rule of thumb is to keep it around 30% or lower.†

Even if you pay off your balance in full on every payment due date, you could have a high credit utilization rate because of the balance that's shown at the end of your billing cycle and reported to the credit bureaus. If you shift your payment to land before the end of the billing cycle, you will avoid this problem.

Here's another way that you can use the billing cycle to your advantage. Time large purchases to the beginning of the cycle, rather than the end, and you'll have much more time to pay off that debt before incurring interest charges.

What to monitor on your credit card statement

Regularly reviewing your credit card statement isn't just a good habit — it's an essential part of money management. Here's a breakdown of what to look for to help make the most of your credit and avoid potential pitfalls:

  1. Fraudulent charges. Your credit card statement can be a frontline defense against fraud. Examine each transaction and flag any charges that seem unfamiliar or suspicious. Promptly report these discrepancies to your card issuer, because that can help mitigate potential damage to your credit report and secure your financial information

  2. Payment due dates. Adhering to your payment due date is critical. Missing a payment can lead to late fees, an increase in your interest rate, and a negative impact on your credit score. Make a habit of marking due dates on your calendar or setting up automated reminders so you'll never miss a payment

  1. Minimum payment warning. This section spells out how long it will take to pay off the account by making only minimum payments, and how much you'll pay during that time

  2. Changes in fees or rates. Credit cards can come with various fees, some of which may change over time. Keep an eye out for new fees or changes to existing ones, particularly if you initially signed up for a card with a promotional offer or an annual fee. Understanding these fees can help you decide whether your current card is the best one for your financial needs or if it's time to explore other options. Interest rates might also change for a variety of reasons, so check the Interest Charge section and ask about any change in rates that you notice

Credit Cards offered at TD Bank

The right credit card account from TD Bank can help you achieve your financial goals.

  • TD Double UpSM Credit Card

    Earn 2% unlimited Cash Back—no rotating Spend Categories, no caps or limits*

  • TD Cash Credit Card

    Earn 3% and 2% Cash Back on your choice of Spend Categories.* Plus, you can switch your categories quarterly

  • TD FlexPay Credit Card

    0% intro APR* for first 18 billing cycles after account opening. After that, 18.24%-28.24% variable APR based on your creditworthiness

This article is for general informational purposes only. It is not intended to provide specific financial, investment, tax, legal, accounting, or other advice and should not be acted or relied upon without the advice of a professional advisor. A professional advisor will recommend action based on your personal circumstances and the most recent information available.

†By clicking on this link, you are leaving our website and entering a third-party website over which we have no control.

Neither TD Bank US Holding Company, nor its subsidiaries or affiliates, is responsible for the content of third-party sites hyper-linked from this page, nor do they guarantee or endorse the information, recommendations, products or services offered on third-party sites.

Third-party sites may have different Privacy and Security policies than TD Bank US Holding Company. You should review the Privacy and Security policies of any third-party website before you provide personal or confidential information.

TD Double Up Credit Card
*Read important Credit Card Terms and Conditions for details about rates, fees, eligible purchases, balance transfers and rewards program rules. If you take advantage of a 0% introductory or promotional Annual Percentage Rate (APR) balance transfer offer and then use your Account to make new purchases, you can avoid paying interest on those new Purchases if you pay each month by the payment due date the “Payment to Avoid Purchase Interest” amount shown within the ‘Payment Information’ box on your account statement.

TD Cash Credit Card
*Read important terms and conditions  for details about rates, fees, eligible purchases, balance transfers and rewards program rules. If you take advantage of a 0% introductory or promotional Annual Percentage Rate (APR) balance transfer offer and then use your Account to make new purchases, you can avoid paying interest on those new Purchases if you pay each month by the payment due date the “Payment to Avoid Purchase Interest” amount shown within the ‘Payment Information’ box on your account statement.

TD FlexPay Credit Card 
*Read important terms and conditions  for details about rates, fees, balance transfer rules. If you take advantage of a 0% introductory or promotional Annual Percentage Rate (APR) balance transfer offer and then use your Account to make new purchases, you can avoid paying interest on those new Purchases if you pay each month by the payment due date the “Payment to Avoid Purchase Interest” amount shown within the ‘Payment Information’ box on your account statement.

TD Clear Visa Platinum Credit Card with a $1,000 Credit Limit 
*Read important terms and conditions  for account details. The Clear Platinum Visa Credit Card with $1,000 Credit Limit has a $10 monthly membership fee. The monthly membership fee will be added to your monthly billing statement each month as a charge, whether or not you use your account, and applied against your available credit like other charges.

TD Clear Visa Platinum Credit Card with a $2,000 Credit Limit 
†Read important terms and conditions  for account details. The Clear Platinum Visa Credit Card with $2,000 credit limit has a $20 monthly membership fee. The monthly membership fee will be added to your monthly billing statement each month as a charge, whether or not you use your account, and applied against your available credit like other charges.

TD First Class Visa Signature Credit Card
*Read important Credit Card Terms and Conditions for details about rates, fees, eligible purchases, balance transfers and rewards program rules. If you take advantage of a 0% introductory or promotional Annual Percentage Rate (APR) balance transfer offer and then use your Account to make new purchases, you can avoid paying interest on those new Purchases if you pay each month by the payment due date the “Payment to Avoid Purchase Interest” amount shown within the ‘Payment Information’ box on your account statement.

1Bonus miles will be reflected on your credit card statement 6 to 8 weeks after a qualified first purchase and/or 6 to 8 weeks after $3,000 in total net eligible purchases made within the first 6 billing cycles of your credit card account opening date. This offer is non-transferable. This One-Time Bonus Offer is not available if you open an account in response to a different offer that you may receive from us or if you previously received a One-Time Bonus Offer on this account or any other account with us. Eligible purchases do not include purchases of any cash equivalents, money orders, and/or gift cards or reloading of gift cards. Groceries purchased from superstores and/or warehouse clubs may only earn 1 mile for each dollar spent.

TD Cash Secured Credit Card
*Read important Credit Card Terms and Conditions for details about rates, fees, eligible purchases, balance transfer and rewards program rules. Eligible purchases do not include purchases of any cash equivalents, money orders, and/or gift cards or reloading of gift cards.

TD Business Solutions Credit Card 
*Read important terms and conditions  for details about rates, fees, eligible purchases, balance transfer and rewards program rules. The person applying for the account is individually liable for the payment of all balances on the account and all cards issued pursuant to this application.

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