When you go to make a credit card payment, it is usually easy to just add the payment to the card's minimum balance amount and make the payment. However, there are times when you need to know more about your credit statement balance vs current balance. Knowing this information can help you determine what to do. For example, if you notice that your credit card balance has gone up or down more than usual. Then it may be a good idea to call your credit card company and ask them to send you your statement so you can check it against your current card statement.
Credit card statements are usually sent out quarterly, so you will need to order yours at least one time each year. Many credit cards may also let you order your statements online so you do not have to wait for your quarterly order. You may even find credit cards that allow you to pay your statement online. If you have been making your payments on time and your minimum credit balance vs payment statement balance remains the same, then this may not be an issue for you.
But if your minimum payment has gone up or down since you last checked it, then you will probably want to check it against your current card statement. You may find that you do not owe as much as before because of a drop in your credit card interest rate. In addition, you should look to see if you have an outstanding balance on your account that you have not paid yet. An additional thing to check is how much you owe on other lines of credit and compare it to your current statement balance vs payment card minimum payment. This is a good way to see if you should go ahead and pay off these balances so that you have more room to improve your credit rating.
Also check your billing statements against your name statement credit balance vs payment card minimums. Again, these are good ways to monitor your credit standing and check where you stand financially. If you notice any unusual activity on your accounts, talk with a credit counselor at the nearest branch or write to the customer service department of the card issuer to report this. They will do the necessary investigation and make sure that your accounts are being dealt with properly.
If you find that your monthly bills do not match your monthly same statement balance vs current minimum payments, ask the card company for an adjustment to your interest rate. A percentage point can make a big difference. Most companies are flexible and will work with you. Most cards offer an adjustment for their clients at the end of the year. However, if this is not the case for you, do not be afraid to file a dispute.
If you find that your minimum credit card statement balance vs current balance do not improve despite making the minimal payment requirements, consider a short term loan with a low interest rate. This could help you catch up on those late payments and prevent more from occurring in the future. Do not be afraid to use the online tools at the issuers websites to track your progress. There is a help button there for most customers. The key is to make good on the payments and cut down on the late fees and penalties and you will begin to repair your credit.
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