Credit statements

It's important to know when your repayments are due, how much you have to pay, and what interest rate you’re paying.

Key terms shown on your credit card statement and what they mean

Your credit limit. The total amount you can spend on your credit card. For example, you may have a credit card that you can borrow up to £1,000 on – that’s your credit limit.
Your balance. The amount you’re currently borrowing on your credit card. This isn’t the amount you have to pay (that’s your minimum payment) but we recommend paying off as much each month as you can, as you’ll pay less interest.
Your interest. The interest rate, shown as a percentage, and the amount you’ve been charged up to the statement date.
Minimum payment due. The minimum amount you must pay for that statement month.
Payment due date. The date you must pay the minimum payment by. Ideally you would pay more to reduce the interest. It’s always better to pay as soon as you can, and remember that if you pay late, you may be charged a fee.

Your credit limit. Your overdraft limit – the total amount you can borrow at any one time.
Your balance. How much of your overdraft you’re using on the date of the statement.
Your interest. The amount of interest you’ve been charged up to the statement date, and the rate it was charged at, shown as a percentage.
Minimum payment. The minimum amount you have to pay for that statement month.
Payment due date. The date you have to make at least the minimum payment by. Ideally you would pay more to reduce the interest. It’s always better to pay as soon as you can, as that will reduce the amount of interest you’re charged.