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Understanding Your Credit Card Statement

The document summarizes the key information provided on a typical credit card statement. It explains that the statement shows how and when the card was used, the amount owed, interest charged, minimum payment due, and available credit remaining. It also notes that reviewing statements can help catch unauthorized charges or billing errors. In summary, a credit card statement outlines the cardholder's account activity and balance due.

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14 views2 pages

Understanding Your Credit Card Statement

The document summarizes the key information provided on a typical credit card statement. It explains that the statement shows how and when the card was used, the amount owed, interest charged, minimum payment due, and available credit remaining. It also notes that reviewing statements can help catch unauthorized charges or billing errors. In summary, a credit card statement outlines the cardholder's account activity and balance due.

Uploaded by

api-372302973
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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name: Tonnie M date:

the statement

A credit card statement provides information such as how and when youve used your credit
card, how much you owe, how much interest youre paying to use the card, how much your
minimum payment is, and how much credit you have left.
Knowing how to read your credit card statement can also help you catch unauthorized charges
and/or billing errors.
So, it can pay to know how to read the statement!

directions
Use the credit card statement on the following page to answer these questions:
1. What is the date of the statement? February 13, 2009

2. What is the Annual Percentage Rate (APR)? 17.5%

3. What is the new balance? $125.24

4. What was the previous balance? $168.80

5. How many charges were made during the billing cycle? 5

6. How many credits and payments were made during the billing cycle? 1

7. Were there any charges for late payments? No


If so, how much were the charges?

8. What is the total amount of the credit line? $1,200

9. What is the total amount of available credit? $1,074,76

10. What is the total amount of charges made during the current billing period? $125.24

11. What is the account number on the statement? 4125-239-412


12. Where should the payment be sent? Your First Bank, Box 1234, Anytown, Canada.

activity 8-2b choices & decisions credit cards


activity 8-2b choices & decisions credit cards

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