Credit Card Statement Balance vs. Current Balance

What's the difference between the Statement Balance and Current Balance on credit credits.
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The statement balance on your credit card is simply the accumulation of everything that occurred during the billing cycle (spending, returns, payments and interest). You'll have about 25 days to pay at least the minimum payment before the final due date. The Current Balance or Total Balance is everything that's accrued since the statement balance was issued. Hopefully this video helps you understand both credit card balances a little easier.

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[HonestFinance]

Hopefully this video helped you understand the difference between the statement balance and current balance on your credit card.

[roseyrose_jadiebelle]

Thank u because I was paying the current total balance out of fear

[fernandogil]

Thank you very much for the information! Super clear and to the point 👍🏾

[michaelphillip]

I've been paying my current balance for 2yrs and indeed it did help because I have exceptional credit now. But this video did help me understand the statement vs current balance situation.

[leahrodriguez]

i love you, my brain actually hit an enlightenment

[pangoleen]

Thank you!! This was very confusing to me but you explained it very well

[justincoffman]

Always pay off the statement balance in full by the due date! And always pay down the Current balance before the next billing cycle to keep your credit score up. Good stuff here.

[bukolaodeleye]

Do you know which credit union report the statement balance for the credit utilization and which one report the current balance for credit utilization

[donewthita]

Help I've had 300.stuck in statement, for two months. I missed one payment my first missed payment ever 3 months ago. Based on app I would have to pass my statement on current balance to pay off statement, I don't want spend 300 more to just pay off the other!. How to fix this ? 3 months ago I literally forgot about paying card off

[kingston]

So what I do, is when I spend say 20 pounds on my cc, I transfer 10 pounds straight away, does this affect my statement balance? My cc company sometimes don’t bill me anything at all, so I assume what I’m paying manually is being counted

[rarestparrot]

This was very helpful. My current balance was actually under my statement balance and it said my minimum payment was 0 (I know not to pay the minimum payment I just use that for reference as knowing I owe money). This must mean I accidentally already payed off the statement balance and I actually owe nothing this month until the next statement period. When I use the BOFA banking app and go to pay off my statement balance it say I owe nothing but I was so scared of interest that last month I payed off the current balance.

[blessy]

Hi! I’ve been looking for simple and direct to the point videos regarding statement vs current balance and I wanted to say thank you because I think I quite understood it better w ur explanation.

My partner and I are new to credit cards and we got our first statement via email w/ a due date of 7/7/2022. We really wanted to build a good credit score for future purposes and we were told to pay the ‘balance’ 5 days before the due date. Will this be helpful? Also, we just paid the current balance instead of the statement bal (which is good, right? Is this how we must pay every month to build a good credit score? 😅) Lastly, is the payment date the same every month? Like ours, will it always be on the 7th every month?

We will truly appreciate ur responses. Thank you so much!

[j.o.]

How is may statement balance higher than my current balance?

[christianzuniga]

I got a -$2500 credit statement what does it mean? But my current balance is $450. Doesn’t make sense.

[blackhawk]

So say for example, you pay your statement balance by the due date and now your available balance is $300, but statement is still $280. will using the credit card while there is a statement balance negatively impact me ? thanks so mycj

[vsamdol]

I just cleared both my current balance and my closing statement balance.

Because I never know when there’s an emergency.

[corygrace]

But can you still pay the current balance if you want to and not the statement balance?

[Samsara-]

My Statement Balance is greater than my Total Balance. I was given a bonus from the membership after the statement date. Which do I pay? If I pay Statement Balance, my Total Balance will be in the negative. I’m a bit confused.

[lingsingjie]

Hi, if I delay to pay statement balance for 5 days ( due on 23/5 but I pay it on 28/5) and what's going to happen to the total balance and when will be the billing cycle started ?

[ilovecinnamoroll]

if i spent money this month (march), the due date would be the following month after? (april)