credit card statement online

Review Your Monthly Credit Card Billing Statement for Unknown Transactions

According to a recent report published in the Economic Times, around 78% credit card users in India tend to make timely payments in full for a billing period. This large section of users paying bills on time leads to an all-time low delinquency rate for the country as compared to other competitive nations in the league. Paying bills in full and on time highly depends on consumers spending habits, repayment capability and habit of checking credit card statement.

What is a credit card statement?

It is a report comprising all the necessary information related to your credit account. This contains information related to –

  1. Account summary
  2. Information on payments made by a user
  • Late & minimum payment warning
  1. Notification for any credit account-related changes
  2. Rewards summary
  3. Interest calculation & fee paid

All such information mentioned in the credit card statement is necessary for users to analyse their financial standing and to determine the benefits availed by using credit card.

Since credit card statements are generated for every billing cycle, it will not include any transactions made on dates before or after this period. So, make sure you check the billing cycle dates carefully before coming to a conclusion that transaction history is missing from the list or any such instances. In any case, a consumer can reach out to credit card customer care to clear out on any discrepant data.

Furthermore, there can be two possibilities because of which unknown transactions can be listed in billing statements.

  • Careless utilisation of credit cards

Many times consumers forget to keep track of the spending they make using their credit cards which causes them financial burden at a later point of time. So, credit card users must always keep track of their spending and know how to use a credit card wisely to minimise careless expenditure of available credits.

  • Fraudulent transactions

There can be cases of fraudulent transactions in case your credit card was stolen, or you made payments via an unsecured gateway or swiped cards at an unverified merchant. If this is the case, raising a complaint against the fraudulent transaction can solve your problem.

Individuals may reach credit card customer care to get detailed information on such transactions and report such instances. Consequently, consumers should opt for credit cards that give protection against such fraudulent transactions. Bajaj Finserv RBL Bank SuperCard is one such card that provides users with robust security features ensuring protection from fraudulent transactions. Apart from security against threat, ease of application is another factor up for consideration while choosing the suitable credit card for you.

To aid consumers with a simplified application procedure, non-banking financial companies like Bajaj Finserv facilitate users with pre-approved offers. These offers are available on credit cards, home loans, personal loans, business loans, along with several other financial products. Check your pre-approved offer by sharing required details such as name and contact number.

Furthermore, each user should have knowledge about all the information included in a credit card statement to tally the spending made by them during a billing period. Referring each section’s account summary, consumers can get detailed information about the purchases or spends they have made during that time. It contains date of transaction, amount of transaction, merchant name or ID, etc.

Any user can select a transaction and check its detailed information before trying to know how to pay credit card bills as paying for unknown transactions isn’t financially beneficial for any individual. Consequently, individuals should check their credit card bill statements thoroughly for unknown transactions. These statements are usually sent via mail or can be accessed online by browsing to the lender’s website.

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