Your guide to credit card statements
Key takeaways
A credit card statement is an itemised record of your spending, payments and charges, usually sent once a month by post or digitally.
Your statement shows your balance, minimum payment, payment due date and how much credit you have available.
Your credit card statements are stored digitally, allowing you to check your spending, payments and charges whenever you need to.
Checking your statement helps you spot errors, identify unfamiliar transactions and keep track of your spending.
What is a credit card statement?
A credit card statement in the UK is an itemised list of all your credit card spending over the past month, letting you know how much you owe in total, the minimum payment you must make and when you need to make that payment.
It will also provide details on interest rate charges and how much of your credit limit is still available to spend.
A credit card statement includes:
Statement balance: The total amount owed when your statement was produced
Minimum payment: The smallest amount you must pay by the due date to keep your account in good standing
Payment due date: The deadline for making at least your minimum payment
Credit limit: The maximum amount you can borrow on your credit card at any one time
Available credit: The amount of credit you have left to spend before reaching your credit limi
Interest rate/APR: The rate charged on borrowing if you don’t clear your balance in full
Fees and charges: The costs that may apply when you use or manage your credit card
Transactions: A record of purchases, cash withdrawals, refunds and other activity
How often will I receive a credit card statement?
You’ll usually get a credit card statement each month. This might be in the post, but you can usually opt for a digital-only version.
You’ll typically have 21-25 days from the date of the statement in which to make at least the minimum card repayment.
Can I change the date my statement is issued?
You can change the date your payment is due, which in turn will change the date your statement is issued.
If money is tight it can be useful to set the payment due date shortly after you receive your salary each month, giving you enough funds to clear your credit card balance in full as a priority.
Whether the change of date is applied to your upcoming statement or the following one will depend on when you make the request and the credit card provider’s processes.
What do I need to look out for on my credit card statement?
A lot of information can be packed into a credit card statement, but there are a few key areas to look out for. These include:
Activity summary
An overview of your purchases, outstanding balance, available credit, balance transfers, fees and any interest charges.
Payment due date
The date by which your card provider will need to have received at least your minimum payment to avoid a late fee.
Minimum payment
The amount you need to pay by the payment due date to avoid any late payment charges.
Transactions
A list of purchases and payments made since your last bill, including the date, the amount and where the transaction was made.
Fees
Detailing any fees you’ve been charged for late payments, under payments or breaking your credit limit.
Interest rates
You can be charged different interest rates depending on how you use the card. These can change over time. Contact your provider if anything is unclear.
How do I access my credit card statement?
While you can often choose to receive a paper statement through the post, you can also opt to go paperless, with current and previous credit card statements available to be viewed or downloaded at any time when you log into your account through the provider’s website or app.
How do I make a credit card payment?
Credit card payments can be made any time over the phone, online or through a banking or credit card app. While you can pay off any amount from your outstanding balance, you’ll typically be shown your:
Balance in full: Paying this off will clear what you owe so you generally won’t face any interest charges at all. It’s the most effective way to use a credit card
Minimum monthly repayment: This is the amount you must pay by the given date to avoid being charged a penalty fee. If you only make the minimum monthly payment and you still have a balance on your card you’ll start to accrue interest on the outstanding debt. Even if you can’t clear your debt in full, it’s a good idea to aim to pay more than the minimum monthly payment whenever you can
How do I dispute charges on my statement?
If you believe you’ve been wrongly or unfairly charged on your credit card, contact your provider to explain why. If you can’t resolve the issue, your provider should explain how you can raise a dispute.
Typically this will involve getting in touch online, over the phone or in writing to formally lodge the complaint.
If you spot any transactions that you don’t recognise you should also contact your credit card provider immediately in case you have been a victim of card fraud.
There can be a number of reasons you might want to challenge charges on your card statement, including:
Being charged the wrong amount for an item
Being charged for a payment you didn't make
Being charged for an item you didn’t receive
Not receiving a refund when you returned an item you purchased
Your statement was sent to the wrong address, so you didn’t pay it on time
If you’re not happy with the resolution, you can take your case to the Financial Ombudsman Service (FOS).
The Ombudsman’s service is free and independent and it can consider your case after your card provider has had your complaint for at least eight weeks or if the solution the provider offered you was not satisfactory.
The card company must abide by the FOS final decision.
Personal Finance & Insurance Expert
Our expert says...
"Credit card statements are an important tool for keeping track of your spending, so don’t ignore them. They can help you spot mistakes, understand what you owe and make sure you’re staying on top of repayments. However, you don’t need to wait for your statement to arrive before checking your finances. With online banking and mobile apps, you can monitor your balance, transactions and payments whenever you need to, helping you stay in control of your credit card use".
Frequently asked questions
Can I pay more than my credit card statement balance?
If you pay more than you owe on your credit card balance, you’ll have a negative balance meaning the credit card company owes you money. As you continue to spend you’ll use up this credit.
There’s no real harm in paying more than your card statement, although it does mean you’ll have less in your current account and stops you from being able to use it for other spending or earn any savings interest on your cash.
As well as overpaying, you could have a negative balance because you have received a refund from a retailer to your card. In some cases it may be possible for your card issuer to pay this credit balance back into your bank account. Contact your card provider if you want to take this option.
How long should I keep my statement for?
This is down to personal choice but credit card companies may give you up to 60 days to report an error on your statement, although some extend the time frame. Always remember to carefully check your statement. Retaining copies can be useful.
With many credit card customers opting for digital statements you should also be able to log-in and retrieve historic statements should you need them for tax purposes or any other reason. This can save on accumulating paperwork at home.
What does CR mean on a bill or bank statement?
CR stands for credit, so when you see this on a bill or bank statement it means you are in credit – in other words, you have surplus money in your account. In contrast, DR stands for debit which is the amount you owe on a bill, such as a credit card bill. Or the amount you are overdrawn on a bank statement.
What is the difference between statement balance and current balance?
Your statement balance is the amount you owed on your credit card when your latest statement was produced, and this is usually the amount you need to pay by the due date to avoid interest.
Your current balance shows what you owe right now, including any purchases, payments or refunds made since your last statement was issued.
Will I receive an annual credit card statement?
You should receive an annual statement every year within a month of the anniversary of the date that you first opened your card account.
Can I pay off my credit card statement online?
Yes, UK credit card providers offer online payment options through their websites or mobile apps, allowing you to conveniently settle your bills digitally.
Best practice is often to set up a direct debit to clear your balance in full every month. This removes the risk of forgetting to make a payment and then being charged a late fee and additional interest.
Can I make a partial payment on my UK credit card statement?
Yes, you can make a partial payment, but ensure you pay at least the minimum amount due by the due date to avoid late fees and negative impacts on your credit score.
Other useful guides
For more information about credit cards and charges read our detailed guides:
Compare credit cards with MoneySuperMarket
Comparing credit cards is quick and easy with MoneySuperMarket. We’ll ask you a few questions about your finances and what you need from a credit card.
Then our eligibility checker service will find cards from our leading panel of UK providers – highlighting your chances of getting a particular card and any cards which you might be pre-approved for. It’s a soft search so it won’t harm your credit rating.
MoneySuperMarket is a credit broker – this means we’ll show you products offered by lenders. We never take a fee from customers for this service. Instead we are usually paid a fee by the lenders, but the size of that payment doesn’t affect how we show products to customers.
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Tim Heming
Personal Finance Expert
Tim Heming is a journalist and editor who has written about personal finance for national newspapers and consumer websites for 15 years. Tim enjoys providing no-nonsense information to help consumers...
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