What is the Name of the Document That Tells You What You Need to Pay on Your Credit Card?
The document that specifies what you need to pay on your credit card is called a "Statement", providing a detailed summary of your monthly transactions, payments, fees, and current balance.
by Sai V
Published Oct 27, 2023 | Updated Oct 27, 2023 | ๐ 1 min read
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What is the Name of the Document That Tells You What You Need to Pay on Your Credit Card?
A. Overdraftย
B. Leaseย
C. Depositย
D. Statement
The correct answer is: D.Statement
The document that provides a detailed breakdown of what you need to pay on your credit card is called a Statement. A credit card statement is a monthly summary of your credit card activity. It outlines all the transactions you've made using the card during a specific billing period, including purchases, cash advances, balance transfers, fees, and any interest charges that may apply. The statement also shows your previous balance, any payments or credits applied, and your current balance.
What is a Bank Statement?
A bank statement is a monthly summary of a bank account's transactions, detailing deposits, withdrawals, charges, and interest earned. Provided in paper or digital form by the bank, account holders use it to track expenses, monitor spending, and detect errors or fraud. Paper statements typically incur a cost, around $3 per statement.
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