{"id":18220,"date":"2020-08-05T20:00:00","date_gmt":"2020-08-05T12:00:00","guid":{"rendered":"https:\/\/www.comparehero.my\/blog\/uncategorized\/how-to-read-and-understand-credit-card-statement.html"},"modified":"2026-03-26T16:02:11","modified_gmt":"2026-03-26T08:02:11","slug":"how-to-read-and-understand-credit-card-statement","status":"publish","type":"post","link":"https:\/\/www.comparehero.my\/blog\/credit-cards\/how-to-read-and-understand-credit-card-statement.html","title":{"rendered":"How To Read & Understand Your Credit Card Statement? Your Credit Card Statement Explained"},"content":{"rendered":"\n

Your credit card statement is more than just finding out the bills you have to pay. It is important for you to understand all the details contained in the monthly report you receive. Here’s a quick explanation and guidance for credit card owners on how to read a credit card statement.<\/strong><\/p>\n

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Unlike your monthly water or electricity bill, your credit card bill can look pretty confusing. That\u2019s because it includes a number of factors: your statement date, your interest rate, your owing, your outstanding balance\u2026 the list goes on!<\/p>\n

So if you\u2019re a little confused with how to understand your credit card statement, don\u2019t feel bad – you\u2019re not the only one.<\/p>\n

In this article, we\u2019ll dive deeper into the elements of a credit card statement and hopefully help you understand how to make sense of it all<\/strong>. But first\u2026<\/p>\n

What is a credit card statement?<\/h2>\n

And what does a credit card statement look like? It\u2019s basically a detailed billing information of your credit card usage with multiple pages of black and white text, sent to you by your bank or credit card issuer once a month<\/strong>.<\/p>\n

They used to come right into our mailboxes, but most banks have now moved to e-statements which you can download online or have them sent to your email inbox.<\/p>\n

These statements must also adhere to Bank Negara\u2019s rules<\/a>:<\/p>\n

(a) An issuer shall provide a monthly statement to a cardholder indicating the outstanding balance, the minimum repayment, the amount credited and charged, including interest and other non-interest charges, and the dates when those amounts were posted to the account;<\/p>\n

(b) An issuer shall provide a minimum payment warning statement (in a box, 12-point font and bold) on the front page of the monthly statement (refer to the sample in Appendix 1). An issuer shall advise a cardholder to use the calculator available on the issuer\u2019s website to compute the length of time it would take to fully settle the balance outstanding based on different repayment amounts. On the back page of the monthly statement, an issuer shall provide a standard illustrative example as per the format in Appendix 2;<\/p>\n

(c) The back page of the monthly statement shall also, at the minimum, disclose the information in a standard table as set out in Appendix 3. This information shall be clearly visible (i.e. shall not be in light shade and less than 8-point font size);<\/p>\n

(d) An issuer shall inform a cardholder on the front page of the last statement of the year, of the length of time it would take to fully settle the cardholder\u2019s actual existing balance outstanding and the total interest cost assuming there is no new transaction on the credit card (refer to the sample in Appendix 4);<\/p>\n

(e) In addition to the above, the last statement of the year shall provide information on the total credit utilised, total interest cost, and total charges imposed to encourage prudent use of the credit card; and<\/p>\n

(f) For a cardholder who opts to receive e-statements, an issuer shall ensure that the information on the e-statement is the same as the hardcopy statement.<\/p>\n

In a nutshell, these statements usually include<\/strong>:<\/p>\n