Understanding your credit card statement

In this guide we’ll cover the basics of how to read your monthly credit card statement.

Your credit card statements

You should check your statement as soon as it’s issued, just so you’re aware of your minimum payment amount and when it’s due, and to review all account transactions, fees, and charges.

Statements can be pretty detailed, so we’ve broken this information into smaller chunks.

Select a topic below to read more:

  • We’ll issue a credit card statement to you every month, just while there’s a balance on your account. If your balance is zero and there’s no new activity, you won’t receive a monthly statement.

    Credit card statements are issued by post, or online, depending on your preferences. If you need communications in another format, such as large print, Braille or audio CD, please contact us.

    Obviously, you need to be registered for Internet Banking to access statements online. You’ll receive a reminder by email as soon as a new statement is available. To view it, simply log on or register.

    Once you’re logged in, it’s also easy to update your statement and contact preferences. From the help and support menu, simply select ‘Manage online and paper preferences’.

    You can also view statements using the Mobile Banking app, making it easier to keep track when you’re out and about.

    When you’re viewing statements online, make sure you review the full PDF version, rather than just the statement summary.

    There are benefits to receiving statements online:

    • We’ll send an email or text message to let you know when a new statement will be available to view securely online.
    • Access your statement straight-away, rather than waiting for postal deliveries.
    • View up to 12 months of statement in one place.
    • Download, save and print copies at home, just if you need them.
    • You’ll have less paper to keep safe and organised at home.
  • At first glance, your statement might seem a bit daunting, but there are some key pieces of information to look out for on each page, which should make it all easier to digest.

    The front page includes:

    • Our contact details, ready just in case you’ve got a question about your statement.
    • An account summary, including your next minimum payment and when it’s due, your previous balance and details of any payments received.
    • A summary of the standard interest rates which apply to your account.
    • Any important messages about your account, including notices about missed payments, or changes to your terms and conditions.
    • A bank giro slip you can use to make payments. This only applies if you receive statements by post.

    The transaction pages include:

    • A list of transactions, payments, fees and charges since your previous statement.
    • A breakdown of the interest rates which apply to your balance, along with any expiry dates.

    Finally, the summary box covers:

    Annual statements
    Once each year, around the anniversary of your account opening, your monthly statement will also include a summary of your account activity for the previous 12 months, detailing:

    • Your total spending.
    • A breakdown by transaction type.
    • The amount repaid.
    • Any interest, fees or charges you’ve incurred.

    This gives you a clear view of your account, spending and how you’re managing things.

  • Your monthly credit card statement includes details about your minimum payment, and when it’s due. Just bear in mind, if you can’t pay the whole statement balance, it’s a good idea to pay as much as you can, as it may help to keep any interest costs down.

    There are a number of payment options available, including Direct Debit, debit card, bank transfer and cheque. Just make sure you pick a method that will get your payment to us on time.

    If you miss a payment, in addition to fees and charges, you could lose any promotional rates which apply to your account. If that happens, your standard account interest rates and fees will apply. Missing a payment could also affect your credit score and your ability to borrow in future, so it’s important to keep track and manage your account well.

    If you’re ever experiencing difficulties making your credit card payments, please let us know so we can help. You’ll find information and support at our money worries page, or you can call us on 0345 606 2172. Speak to an adviser 8am – 8pm, seven days a week.
    Not all Telephone Banking services are available 24 hours a day, seven days a week.

  • It’s a good idea to keep hold of receipts and order confirmations so you can check them against your statement later.

    If you spot a transaction you don’t recognise

    • Check the company name online – some businesses trade under a parent company.
    • Check if any authorised cardholders made the transaction.
    • Contact the company to query the payment.

    If you still don’t recognise the payment and you can’t resolve things with the company direct, you can raise a credit card payment dispute.

    If you do recognise the transaction, but there’s a problem
    In the first instance, you should contact the company providing goods or services to resolve any issues. But failing that, you can raise a credit card payment dispute.

    Most credit card purchases of over £100 and not more than £30,000 are covered by Section 75 of the Consumer Credit Act 1974, which means you could claim a refund if something you’ve paid for is faulty, doesn’t arrive or isn’t as described.

    Other times you should get in touch

    If there’s an account fee or charge on your statement that you wouldn’t expect, of course you can contact us to query it. That also applies if you suspect your account is at risk from fraud.

  • Just as a statement will tell you how much you owe (your outstanding balance), it’ll also tell you if your account is in credit. Obviously, we don’t charge interest on credit balances. That money is yours.

    If you’re in this situation and you’re not planning to use your card for a while, as an alternative to spending with your credit card, we can arrange a credit balance refund to your UK current account.

    To get started, call 0345 606 2172 (or +44 1702 278 272 from outside the UK). Speak to an adviser 8am – 8pm, seven days a week.
    Not all Telephone Banking services are available 24 hours a day, seven days a week.

    Just so you know, the only time you won’t receive a statement, is if your balance is zero and there’s been no new activity on your account in the past month.

  • You can change your payment due date, which will in turn change the date your statements are issued. Customers often do this to suit their needs better, for example, if you usually receive your salary later than your usual due date falls.

    • Using Internet banking – log on or register to get started. From your credit card account summary, select ‘More actions’, then ‘Paying your credit card’. If you don’t bank online please give us a call.

    Just be aware, your change may apply to a future statement and payment, rather than the next or current one, depending when you make your request.

How you receive your statement

If you need communications in another format, such as large print, Braille or audio CD, please contact us.

Statements by post

If you’d prefer a paper copy and you’re happy to wait for delivery, just let us know and we’ll send your monthly statement by post.

View them online

Go paperless to access statements online as soon as they’re issued, using Internet Banking or the Mobile Banking app.

The choice is yours

You can manage your statement and contact preferences online at any time, or contact us to switch between options.

Mobile banking

If you’re already registered for Internet Banking, you’re just a few steps away from having convenient account services at your fingertips wherever you go, using our Mobile Banking app.

About mobile banking

Key points about credit card statements

  • Statements are issued every month, while there’s a balance or there’s been activity on your credit card account.
  • Depending on your preferences, you’ll receive your statement by post, or online.
  • It includes your statement balance, the minimum payment amount and due date, a list of transactions since your last statement, a breakdown of your balance and useful account information.
  • Once each year, around the anniversary of your account opening, it’ll also include an annual statement covering your account activity for the previous 12 months.

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