To understand a Visa credit card statement, a cardholder must understand the terms used and all of the numbers on the statement and read the small print, advises MyCreditUnion.gov. A credit card statement uses percentages, numbers and terms in the process of tallying the balance.
Account Activity, Transactions and Payment Information are fields on a credit card statement, shows MyCreditUnion.gov. The Schumer Box contains information about the fees, interest rates and other terms for a credit card. Fields also indicate changes in the interest rate, changes in account terms and a calculation of the interest.
The summary of accounts includes information about the previous balance, payments, purchases, fees and interest, explains MyCreditUnion.gov. A new balance, available credit and the closing date of the statement also appear. The summary of activity does not show transactions made after the statement date.
Fees, minimum interest charge, annual percentage rate for purchases, the penalty APR and grace period before interest applies are in the Schumer Box, instructs MyCreditUnion.gov. Annual fee, transaction fee and penalty fee information are also there.
The new balance, minimum payment due and payment due date appear in the Payment Information field. A list of all transactions from the previous statement date to the current appear in the Transactions field, according to MyCreditUnion.gov. Updated term information and interest rate information appear in the account change field and interest rate field.