View Your Credit Card Details and Transactions

Navigating your credit card statement might seem like deciphering a cryptic code, but it's certainly a crucial skill for financial management. By understanding your credit card statement, you can track expenses, detect errors, and maintain a healthy financial profile.

In this article, we will demystify the process, providing you with a comprehensive guide

on how to efficiently interpret and analyse your credit card statement.

Whether you're a seasoned cardholder aiming to fine-tune your budgeting skills or a newcomer trying to grasp the intricacies of your financial transactions, our step-by-step instructions and insightful tips will equip you with the confidence and knowledge needed to navigate through your statement like a pro.

Let’s uncover the secrets behind interest rates, minimum payments, and transaction details so that you can take charge of your financial journey today.

Know the Sections Present in Your Credit Card Statement

Without further ado, let’s dive into the major sections of credit card statements -

Account Summary -

The account summary sums up the entire credit card statement of the month. It provides insights into all the transactions that you did in the month and the amount that you owe to your credit card issuer.

The sub-elements of the account summary of your credit card statement are as follows -

• Account Number - This is essentially your credit card number. 
• Previous Balance - This section of the credit card statement shows your last month’s balance for your reference.
• Payments Made - This section presents the payments that you made towards your previous balance in the last month. So if you paid your credit card balance in full in the last billing cycle, the same would appear in this section. 
• Purchases - This part of your credit card statement displays the number of transactions you made during the current billing cycle.
• Balance Transfers - This section shows the amount of transfers that you made in the current billing cycle. Note that this section is only present in your credit card statement if your credit card has the provision to transfer balances. 
• Cash Advances - This part of your credit card statement depicts the amount of cash advances that you received in this billing cycle. Again, this section appears only if your credit card offers this benefit. 
• Fees -  This portion offers insights into the active charges on your credit card in this billing cycle. These charges could be late fees, cash advance charges, or balance transfer fees. 
• Interest/Profit Charged - If you are carrying some balance from your previous billing cycle, interest will be accrued and will appear in this part of your credit card statement. 
• New Balance - This is the overall amount that you now owe to your credit card issuer. It is a sum of the past balance, your new purchases from the current billing cycle, and any interest or fees chargeable. 
• Past Due Amount - This segment of your statement shows the total amount that is due till date. 
• Credit Access Limit - You might encounter the term "credit access line," which is synonymous with your credit limit. It outlines the highest balance permissible during any given period.
• Available Credit - It signifies the difference between your credit limit and your current balance. Simply put, it indicates the additional amount that you can charge on your card in the future.
• Cash Advance Line - In cases where credit cards provide cash advances, the cash access line denotes the maximum amount that you are eligible to borrow.
• Billing Cycle Dates - The opening and closing dates are indicative of the start and finish of your billing cycle. Any purchases made before the opening date or after the closing date will be reflected on the preceding or subsequent credit card statement, respectively.
• Duration of Billing Cycle - The days in the billing cycle indicate the length of time encompassed by the billing period, typically spanning around 30 days.

Credit Card Statement Balance and Payment Information -

This section of your credit card statement offers information about your new balance, the minimum amount due, and the payment due date.

Late Payment Warning -

In this part, you can find out more about the amount that you would need to pay if you fail to pay your credit card bill on time. Usually, credit card issuers don’t charge for the first deferred payment. However, it is always better to check the information about late payment fees at your first and the following late payments.

Minimum Payment Warning -

The typical minimum payment alert contains a chart designed to assist you in comprehending the timeframe required to settle your balance if you go for only the minimum payment. This duration often spans several years, assuming that you refrain from making additional charges on your card during this interval.

Furthermore, it might feature a comparative segment illustrating the accelerated pace at which you can clear your balance by going beyond the minimum payment. Certain credit card statements may even furnish a contact number that you can dial to access credit counselling if you find yourself grappling with credit card debt.

Reward Summary -

This portion of your credit card statement shows all the credit card rewards that you have earned in this billing cycle. Here’s what you can expect in this section -

• Previous Reward Balance - This subdivision of the section shows all your previous credit card rewards.
• Rewards Earned this Month - It indicates the number of rewards that you earned in this billing cycle. 
• Bonus Rewards - Bonus rewards are available only if your credit card offers such rewards in some categories. This section shows the number of rewards you have earned. 
• Total Available Rewards - This is the sum total of rewards available for use right now.

Changes Made to Your Account -

In this section, you can find out whether there are any major changes in the credit card issuer’s plans that would eventually feature in your credit card account. The credit card statement will also provide insights about how these changes are going to affect you.

Account Activity -

In this portion of your credit card statement, all the transactions made during the current billing cycle are listed. The information provided here includes the date of the transaction, the merchant’s name, and the amount spent.

The account activity section helps you identify any sort of identity theft or other fraudulent transactions done from your credit card. This section also provides a detailed breakdown of the fees and interest incurred in case you performed any balance transfer or took a cash advance.

Fees and Total Interest/Profit till Date -

This section of your credit card statement consists of a summary table stating the interest rate and credit card fees paid so far.

Interest Charges -

Under this part, you can have detailed insights into how the concerned bank or credit card provider computes the interest or profit charges that you owe. Keep in mind that there can be different sections for purchases, balance transfers, and cash advances if they have different APRs.

Reasons to View Your Credit Card Details and Transactions

Here are the reasons as to why you should view your credit card details and transactions towards the end of every billing cycle -

• Enables You to Spot Identity Thefts (If Any) - There are chances that your credit card is used illegally by someone else, whether for a small amount or a large one. While minor fraudulent transactions may not raise alarm initially, they can certainly lead to big transactions eventually. By viewing your credit card details and transactions every month, you can easily spot such fraudulent transactions. 
• Helps in Identifying Errors in the Statement - At times, banks and other financial institutions may end up making errors that reflect in your credit card statements. For instance, it could be an erroneous depiction of a late payment even when you might have paid the credit card bill on time. By regularly viewing your credit card statements, you can avoid paying extra charges and interest on late payments. 
• You will Know How Much You are Spending - When you review your credit card statement regularly, you become aware of your spending habits. You can learn about the amount of debt that you have accrued every month as well as several other important details. All this can make it easier for you to figure out ways to curb your spending. 
• You Keep a Track of Your Rewards - Finally, users can monitor their accumulated earnings from the rewards and rebates that their banks offer them through their credit card statements.

How to View Your Credit Card Details and Transactions?

Discussed below are the ways through which you can view your credit card details and transactions -

Online -

Banks offer you both physical and digital versions of your credit card statement. To access your credit card statement online, you simply need to sign into your netbanking account.

Once logged in, you will have access to essential details about your credit card — available credit, minimum amount outstanding, unbilled amount, upcoming due date, latest balance, and more.

You have the option to either download a PDF of your statement or view it directly on the website.

Offline -

If you have an offline credit card statement facility, your bank will send it to your registered address. With that said, nowadays, banks all across the country encourage users to choose online credit card statements that are directly sent to their email addresses. You can check your credit card statement sent to your email using a password given by the bank.

Check Out UAE’s Top Banks Providing Credit Card Statements - Online and Offline

Tabled below are some banks that offer credit card statements both online and offline -

Top Banks Credit Card Statement
Mashreq Credit Card Statement	Emirates Islamic Credit Card Statement
American Express Credit Card Statement	FAB Credit Card Statement
RAKBANK Credit Card Statement	HSBC Credit Card Statement
Standard Chartered Credit Card Statement	ADIB Credit Card Statement

Have a look at what people are asking about credit card details and transactions in the UAE in the FAQ section next -

Frequently Asked Questions