What if my statement balance is higher than my current balance?

On the other hand, your statement balance could be higher than your current balance if you received a refund after your statement closed. Of course, both the statement balance and current balance should be the same if no transactions pop up in your credit card account between monthly billing cycles.

What's the difference between a statement balance and a current balance?

When looking at your credit card statement, it may be tricky to differentiate between your statement balance vs. your current balance. So, what's the difference? Your statement balance typically shows what you owe on your credit card at the end of your last billing cycle.

Why is my current balance lower than my statement balance?

This is because your current balance is continually updated based on payments and purchases made, while your statement balance is a record of your balance on a given date. If you've made payments on your credit card after your billing cycle ended and haven't made any other purchases, your current balance may be lower than your statement balance.

What does current balance mean?

Unlike your statement balance which represents the purchases and payments on your card during a set period, your current balance reflects all the charges and payment activity on your credit card account up to the date the statement was generated.