what is a statement balance?

[charlie]

I see the term statement balance on my credit card, but what is a statement balance exactly? Is it different from the current balance? Do I need to pay the full statement balance every month?

 

[Selina]

A statement balance represents the overall amount that you are required to pay on your account based on the transactions of a specific time period. This includes all purchases, fees, and interest that have been added up to that date. If you pay it in full by the due date, you will not be charged any interest.

 

[Emly]

A statement balance is the total amount you owe on your account at the end of a billing cycle, including all charges made during that period.

 

[LiamOliver]

A statement balance is simply the sum that is owed at the end of a billing period that is due before the statement of balance timing elapses or they incur an interest.