Pay Attention to Your Credit Card Statement

Applying for a credit card is not an easy process. Even if you are not new to the world of plastic money, understanding the information in your credit card statement can be rather difficult. But as we all well know, this information is very useful. Credit card statement consists of utterly important information and without knowing and understanding it, credit card usage simply does not make sense!

Remember that if you notice some abnormalities on your credit card statement, your credit card company will be able to indicate merchant errors or identity theft!

First of all, the credit card statement displays your account number that identifies you to your credit card company. When you pay for goods and purchases with a credit card, they are attached to the number of your account and then charged to you. Also in case you have some problems or questions and need to call customer service, you will be asked to tell your account number.

If you are not attentive with information on your credit card statement, you may have some difficulties paying for goods and services online or by phone.

My friend Julie once wanted to buy a vacuum cleaner online. She filled out all the details of her credit card and of course her name - Julie Ann Reed. She was very surprised when on the screen of her computer she saw the notice: "Sorry, name does not match!" She said she tried to fill out her name for about 15 times, but the result was the same. Julie sincerely thought that something was wrong with her good credit card, but everything was easier! Julie didn't remember how her name was saved in relation to her account: it was Julie A Reed and that was the one and only reason of her difficulties!

The statement also shows all the transactions that were made between the last statement date and the current date. The due date of your statement is the date when your credit card company should receive your payment in order to avoid additional charges and late fees. Some credit card companies like Visa or MasterCard allow you to choose the due date, while others postmark their own.

The credit card statement also shows how much of your credit line is available for you to spend. It is very important to know this information as over-the-limit-fees are extremely high. If you go over the limit, you can spoil your credit score and your credit history as well!

But the most important information on your credit card statement is a detailed listing on everything that has occurred with your account: detailed purchases, interest charges, refunds and returns. Pay close attention to this info! If you notice some strange items that you didn't buy, call your credit card company immediately! Doing so, you can protect yourself from identity theft and merchant errors.

Credit card statement is usually one or two pages long, take your time and read it! 20 minutes of your time are worth spending in order to be financially secured!