10 changes to your credit card statement

Summary of account activity and payment information

Account summary. This section will provide an overview of your account activity, including transactions, fees and interest charges for the billing period. You will see your new balance total in this section, along with your credit limit and available credit. Make sure that your credit limit hasn't changed, as credit card issuers don't have to provide advance notice of credit limit reductions.

A payments summary. This portion of your credit card statement will highlight your total new balance, the minimum payment due and the due date. Pay more than the minimum due to more quickly pay down debt and save on finance charges.

A late payment warning. This "warning" will clearly explain the fees and penalty interest rate that could apply if you don't submit the minimum payment by the due date. The Credit CARD Act of 2009 requires issuers to have a payment cutoff time of no earlier than 5 p.m. Eastern on the due date, or the next business day in the case of weekends or holidays.

A minimum payment warning. More a helpful tip than a warning, this portion will state how long and how much it will cost to pay the balance off if you just make minimum payments, in addition to showing you what it will take to pay off your balance in three years. To compute your payoff date using a different payment amount, use our debt pay-down calculator.

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