IDFC Credit Card Statement

1. Card Statement:

This offers an overview of your credit card statement, with the most important details marked out for you. These details include your credit card limit, available limit for credit, your total dues, minimum amount due, and the due date for making these payments.

2. Past Dues:

This section of the IDFC FIRST Bank credit card statement offers you details such as the total amount you are required to pay and the minimum amount you need to pay in order to keep your credit card active and functional. You can also look back through this statement and find previous credit card dues you have paid off.

3. Summary of Reward Points:

This section pertaining to the reward points offered by usage of your credit card is scanned most keenly by customers. From this section, you can learn about the credit card reward points you have earned through your purchases along with opening and closing statements and the points that have been disbursed and adjusted.

4. Summary of the Account:

The account summary section of the IDFC FIRST credit card statement includes the opening and closing balance of your credit card account. Additionally, it enables you to easily view details of the payments you have made since the last billing cycle, the financial charges levied on use of the card, the total dues you are required to pay, the date on which the transaction was made, and a description of the transaction being made.

• Billing cycle:

A billing cycle refers to the amount of time for which your credit card statement has been calculated. It will be reflective of how frequently you are expected to make repayments on the credit card usage, among other details. Make sure that your billing cycle allows you an adequate amount of time to be able to repay the amount you have spent through the card.

• Minimum Payment:

The minimum payment refers to the least amount you are required to pay in order to continue using your credit card. The minimum payment is only a slight portion of the total amount you have spent through your credit card and are required to repay. Your credit card statement will mention the minimum amount that you need to pay within a certain date in order to keep using the card.

• Payment for Late Fee:

It is important to pay your credit card bills on time since you may end up attracting a penalty for late fees. Check your statement thoroughly to know the fine or fee you will be required to pay if you do not make the payment for your credit card within the stipulated time.

• Credit Limit:

Your credit limit, as demonstrated on your IDFC Bank credit card statement, indicates the amount of credit available to you to make purchases through your credit card. It can also be referred to as the line of credit available to you or the maximum spending limit. These limits ensure that your spending is restricted and you are forced to make informed decisions before you make a purchase. While the credit limit keeps your expenditure low, it is also possible to increase your credit limit by taking certain measures.

• Annual Fee:

Credit card holders are usually charged an annual fee for usage of the credit card from the bank. It is important to know this annual fee before you opt for the card because it will help you determine your basic expenditure on using and maintaining the card.

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