New Delhi, June 30 -- A credit card statement is a full record of your credit utilisation, your spending habits, your interest rates and payment obligations. To effectively manage the use of your credit and avoid falling into unintended debt traps, it is essential to read and comprehend this piece of paper.

In this, we will answer common questions about credit card statements and explain what they mean and what they're composed of and their importance.

Your bank or credit card issuer will send you a monthly credit card statement, which contains all of your International balance charges, payments, and transactions for a specific balance billing cycle. Basically, it reminds you to make payments and retains a record of your credit usage. I...