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You’re a Credit Card Owner. Now What?

How Do Credit Cards Work?

Credit Card Bills and Payments

Every time you use your card, money is taken out of your account. This is the money that you have to pay back. Each month, your credit card provider will send you a billing statement that highlights your transactions. This will explain what you owe on the card, what you still have available on the card and what your minimum monthly payment needs to be.

Example

Credit card statement sample

Your credit card billing statement may look a little different than that, but the basic components will be the same. All this is designed to do is clearly show you what you are expected to pay.

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