Statement balance
Cards & borrowingThe amount you owe at the end of a billing cycle, shown on your statement.
Overview
Paying the statement balance by the due date can avoid interest on credit cards.
The statement balance is different from your current balance.
Why it matters
- It determines how much interest you will pay.
- It is the key balance to clear to avoid charges.
- It affects reported utilisation.
FAQs
Is the statement balance the same as current balance?
No. The current balance changes with new transactions, while the statement balance is fixed for the period.
What happens if I pay the statement balance?
You usually avoid interest on purchases, provided you pay on time.
Related terms
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