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Getting to know your personal credit card statement

Even if you only use your credit card sporadically, you should check the statement of account carefully.  

As well as checking things like the closing balance, Minimum Monthly Payment, any overdue or over limit amounts and the due date on your credit card statement, it's a good idea to go through your list of transactions with a proverbial fine-toothed comb. 

Making sense of transactions

Your statement includes a list of transactions debited and credited to the account during the statement period. Go through this list and check to see if there are any unfamiliar transactions. 

Sometimes, a company’s trading name is different to its business name. This can mean that the name in the transaction details is different to the store or brand name that you’re familiar with. If you see a name you don’t recognise, then you could go back through your receipts (if you have them) to see if anything matches up or you could try researching the trading name to see if it’s linked to a brand name you purchased from last month. 

As well as looking out for unfamiliar names in the list of transactions, you should also make sure that you haven’t been charged the wrong amount for things; and that you haven’t been charged for things you never purchased.  

Align your statement to your budget

If you use your credit card for all your everyday spending, you may want to get into the habit of cross-checking your statement with your budget. Get out those trusty coloured highlighters and mark up different categories of spend – food, entertainment, utilities and so on. Then, you could add up each category and compare your actual to budgeted spending. 

It’s one method that may be helpful to check a budget is on track. If there’s a budget overspend, doing this could help that overspend to be picked up quickly and may help in working out ways to bring a budget back into balance. 

What to do if you spot something wrong

If you think a merchant has incorrectly charged you the wrong amount for an item or they’ve charged you for something you didn’t buy you can contact them directly. Also check with any additional cardholders to see if they made the purchase. In some circumstances you may be entitled to reverse (chargeback) a transaction where you have a dispute with the merchant. ANZ's consumer credit card customers can refer to the ANZ Credit Card Conditions of Use for more information.

If you’re an ANZ customer and notice any unusual transactions on your account, please immediately dispute the transactiondisclaimer in ANZ Internet Banking or by using the ANZ App. If you’re having trouble, please contact us.

Learn more about credit card payments

The Closing Balance vs the Minimum Monthly Payment

Whether you decide to pay off the full closing balance, the minimum monthly payment or an amount in between - it's important to understand the different and what they might mean for your bottom dollar.

Read article

Things to know about your credit card due date

It's important to remember the due date on your credit card statement. If you miss the due date, it could cost you in late payment fees or you could lose the benefit of an interest-free period.

Read article

Avoiding late payment fees on your credit card

Your credit card statement will include a payment due date. This date is one to remember if you're keen to avoid late fees.

Read article

Information in this article refers to personal credit cards, is general in nature only and does not take into account your personal objectives, financial situation or needs. 

By providing this information ANZ does not intend to provide any financial advice or other advice or recommendations. You should seek independent financial, legal, tax and other relevant advice having regard to your particular circumstances.

The information is current as at June 2019 and may be subject to change. ANZ recommends you review your personal credit card contract for information about the terms that apply to you.

ANZ interest rates and fees and terms and conditions are subject to change. Refer to the current credit card interest rates, fees and terms for further information and current interest rates, fees and terms. 

Applications for credit at ANZ are subject to ANZ’s credit approval criteria, terms, conditions and fees and charges apply. Australian Credit Licence Number 234527

The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available here for iOS and here for Android and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

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