Ensuring you know the important parts of credit card statements is an important step to making wise financial decisions. Monthly check-ins can ensure your budget is on the right track, and that there are no errors or fraudulent charges that could cost you. You will likely want to review any charges, check your credit score, and ensure any payments are posting as you expect.

To help you better understand the terminology credit card companies use and how specific numbers and percentages play into your total account balance, follow our easy-to-read guide. Please note, this is just a Discover credit card statement example. Not all statements will look the same, but each typically will include the same basic information.

  1. Understanding Your Monthly Statement
  2. Understanding Your Year-End Credit Card Summary
Discover Credit Card Statement 

1. Understanding Your Monthly Credit Card Statement

Account Information: This includes the last four digits of your account number and the open and closing dates this credit card statement applies to.

Account Information - Credit Card Statement

 

Account Summary: This section summarizes your transactions for this statement, including your payments and credits, purchases, interest charged, fees charged, balance transfers, and cash advances.

Account Summary - Credit Card Statement

 

Credit Line: Your credit line is your spending limit. Interest and fees may reduce the amount of your available credit line.

Credit Line - Credit Card Statement

 

Credit Line Available: This number indicates the amount of credit that is still available to you.

Credit Line Available - Credit Card Statement

 

New Balance: This is the amount of credit you have borrowed and have to pay off plus any finance charges, as of the statement close date.

New Balance - Credit Card Statement

 

Minimum Payment Due: You must pay at least this much by the payment due date. You may always pay more than the minimum, up to the total balance.

Minimum Payment Due - Credit Card Statement

 

Payment Due Date: If you don’t pay at least the minimum payment by this date, you will be charged a late fee. Depending on your credit card terms, your interest rate may also increase.

Payment Due Date - Credit Card Statement

 

FICO® Credit Score: Your FICO® Credit Score is a three-digit number that summarizes the positive and negative information on your TransUnion credit report. A FICO® Credit Score is the most common credit score used by lenders to quickly assess your credit risk, and it can influence everything from car loans to mortgages to credit cards.

Fico Credit Card - Credit Card Statement

 

Rewards/Cashback Bonus Balance: The cashback amount you have accrued previously, and how much you have accumulated in the billing period.

Rewards - Credit Card Statement

 

Payment Coupon: All the information necessary to pay your bill repeats here. Include this coupon with your check if paying by mail.

Payment Coupon - Credit Card Statement

 

Transactions: In this section, you’ll find a list of all your transactions, or charges and payments, that you’ve made, in the order of the date they occurred.

Transactions - Credit Card Statement

 

Interest Charge Calculation: Here, you’ll find the APRs that currently apply to your account, the balances subject to those rates, and the interest charges.

Interest Charge Calculation - Credit Card Statement

2. Understanding Your Year-End Credit Card Summary

The first step in learning how to read your year-end summary is to find your summary online. If you are a Discover cardholder, log in to your account at Discover.com. Then go to Account Activity and select “Year End Summary (Annual)” from the Account Period drop-down menu.

  • Account Information: Your Year End Summary Statement includes the name, address and phone number associated with the credit card account. You’ll also see a line that includes the last four digits of the credit card account number.
  • Year End Summary Statement: As the year rolls to a close, this section summarizes the total amount of your purchases, cash advances and balance transfers for the year. These figures may not reflect your current balance, but they can offer a helpful view of credit card activities during the past 12 months.
  • Sorting Your Transactions: Sorting your transaction totals can offer a useful overview of your spending patterns. It can also allow you to see where you’re on track with your budget and where you may need work.

You can sort your transactions chronologically by transaction date or post date, or by transaction description, amount or category.

For example, sorting your purchases by category may show you that you spent more than you thought on restaurant meals. Categorizing your transactions by date could show that you spend a lot more on the weekends than you do during your work week. This could be a great way to identify areas where you can shift your habits and save money.

  • Taxes and Expenses: The sorting features help you find potentially tax-deductible expenses, like medical bills or moving costs, quickly and easily. This can be particularly helpful for a small business owner or a self-employed freelancer using one credit card for business expenses — they can track business-related deductions via the year end credit card summary.

Though it may look like just another statement, your year-end credit card summary is full of valuable information that can help you at tax time and beyond.

Published March 6, 2015.

Updated April 21, 2020.

FICO® Credit Score Terms: Your FICO® Credit Score, key factors and other credit information are based on data from TransUnion® and may be different from other credit scores and other credit information provided by different bureaus. This information is intended for and only provided to Primary account holders who have an available score. See Discover.com/FICO about the availability of your score. Your score, key factors and other credit information are available on Discover.com and cardmembers are also provided a score on statements. Customers will see up to a year of recent scores online. Discover and other lenders may use different inputs, such as FICO® Credit Scores, other credit scores and more information in credit decisions. This benefit may change or end in the future. FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

If you prefer not to receive your FICO® Credit Score just call us at 1-800-DISCOVER (1-800-347-2683). Please give us two billing cycles to process your request. To learn more, visit Discover.com/FICO.

Legal Disclaimer: This site is for educational purposes and is not a substitute for professional advice. The material on this site is not intended to provide legal, investment, or financial advice and does not indicate the availability of any Discover product or service. It does not guarantee that Discover offers or endorses a product or service. For specific advice about your unique circumstances, you may wish to consult a qualified professional.