To read a credit card statement, look at the purchases and new charges section first, suggests Bankrate. This section shows the charges that appear on the statement, including the places of purchase and their total dollar amounts. Verify that the amounts match the purchase receipts.
The next things to look at are the previous balance, payments and credits, and cash advances, according to Bankrate. While all credit card statements are slightly different, this basic information appears on all statements. The previous balance shows any outstanding balance remaining after the previous statement. The payments and credits section details the last payments sent, whether by check or online payment. Make sure the last payment sent appears in this section, and verify that the cash advances borrowed show up correctly.
Take a look at the charges and fees listed on the statement, advises Bankrate. These include late fees, over-the-limit fees, finance charges and other miscellaneous fees. If you do not pay the balance on time, you could incur multiple charges. The credit card statement's current balance due section identifies both the total balance on the card and the minimum amount the cardholder must send. It also lists a date on which the minimum amount is due.