1. Credit Card Statements
Outline important information about the card
The 2009 CARD Act required credit card companies to include specific information about a card account in the statement
Andrew’s Credit Card Statement
Please help Andrew interpret his credit card statement

2. Summary of Account Activity
Andrew’s Credit Card Statement
Summary of Account Activity
Payment and credit amounts
Purchase totals
Balance transfer and cash advance totals
Fee and interest charges
Amount past due
New balance
Available credit 2
Summary of Account Activity
Previous Balance
535.07
Payments
Purchases
Balance Transfers
Cash Advances
Past Due Amount
+0.00
Fees Charged
+69.45
Interest Charged
+10.89
New Balance
$1,784.53
Credit Limit
$2,000.00
Available credit
$215.47
Statement closing date
3/22/2012
Days in billing cycle 30
Payment Information
New Balance $
Minimum Payment Due
$53.00
Payment Due Date
4/20/12
Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay a $35 fee and your APR’s may be increased up to the Penalty rate of 28.99%
Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance. For example… 3 1 4
If you make no additional charges using this card and each month you pay…
You will pay off the balance shown on this statement in about…
And you will end up paying an estimated total of…
Only the minimum payment
10 years
$3,284
$62
3 years
$2,232 5 6
Notice of Changes to Your Interest Rates
You have triggered the Penalty APR of 28.99%. This change will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, the Penalty APR will apply to these transactions. We may keep the APR at this level indefinitely.
Transactions made before 4/9/12: Current rates will continue to apply to these transactions. If you become more than 60 days late on your account, the Penalty APR will apply to those transactions as well.
Important Changes to Your Account Terms
The following is a summary of changes that are being made to your account terms. For more detailed information, please refer to the booklet enclosed with this statement. These changes will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, APR for Purchases will increase to 16.99%.
Transactions made before 4/9/12: Current APRs will continue to apply to these transactions. 7
Transactions
Reference Number
Trans Date
Post Date
Description of Transaction or Credit
Amount
XXXX1
2/22
2/23
Store #1
$529.57
XXXX2
2/25
2/26
Payment $
XXXX3
Cash Advance
$318.00
XXXX4
3/15
3/17
Balance Transfer
$785.00
Fees
XXXX5
Late Fee
$35.00
XXXX6
2/27
Balance Transfer Fee
$23.55
XXXX7
2/28
Cash Advance Fee
$10.90
Total Fees for this Period
$69.45
Interest Charged
Interest Charge on Purchases
$6.31
Interest Charge on Cash Advances
$4.58
Total Interest for this Period
$10.89 8
How much did Andrew charge in new purchases during this credit card billing cycle?
2012 Totals Year-to-Date
Total fees charged in 2012
$90.14
Total interest charged in 2012
$18.27 9
Interest Charge Calculation
Type of Balance
Annual Percentage Rate (APR)
Balance Subject to Interest Rate
Interest Charge
Purchases
14.99%
$512.14
$6.31
Cash Advances
21.99%
$253.50
$4.58
Balance Transfers
0.00%
$637.50
$0.00
$529.57 10

3. Minimum payment amount Date payment is due
Payment Information
Includes:
Total new balance
Minimum payment amount
Date payment is due
Payment due dates must be consistent month to month
Monthly statements must be sent at least 21 days before a credit card payment is due
Andrew’s Credit Card Statement 2
Summary of Account Activity
Previous Balance
535.07
Payments
Purchases
Balance Transfers
Cash Advances
Past Due Amount
+0.00
Fees Charged
+69.45
Interest Charged
+10.89
New Balance
$1,784.53
Credit Limit
$2,000.00
Available credit
$215.47
Statement closing date
3/22/2012
Days in billing cycle 30
Payment Information
New Balance $
Minimum Payment Due
$53.00
Payment Due Date
4/20/12
Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay a $35 fee and your APR’s may be increased up to the Penalty rate of 28.99%
Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance. For example… 3 1 4
If you make no additional charges using this card and each month you pay…
You will pay off the balance shown on this statement in about…
And you will end up paying an estimated total of…
Only the minimum payment
10 years
$3,284
$62
3 years
$2,232 5 6
Notice of Changes to Your Interest Rates
You have triggered the Penalty APR of 28.99%. This change will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, the Penalty APR will apply to these transactions. We may keep the APR at this level indefinitely.
Transactions made before 4/9/12: Current rates will continue to apply to these transactions. If you become more than 60 days late on your account, the Penalty APR will apply to those transactions as well.
Important Changes to Your Account Terms
The following is a summary of changes that are being made to your account terms. For more detailed information, please refer to the booklet enclosed with this statement. These changes will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, APR for Purchases will increase to 16.99%.
Transactions made before 4/9/12: Current APRs will continue to apply to these transactions. 7
Transactions
Reference Number
Trans Date
Post Date
Description of Transaction or Credit
Amount
XXXX1
2/22
2/23
Store #1
$529.57
XXXX2
2/25
2/26
Payment $
XXXX3
Cash Advance
$318.00
XXXX4
3/15
3/17
Balance Transfer
$785.00
Fees
XXXX5
Late Fee
$35.00
XXXX6
2/27
Balance Transfer Fee
$23.55
XXXX7
2/28
Cash Advance Fee
$10.90
Total Fees for this Period
$69.45
Interest Charged
Interest Charge on Purchases
$6.31
Interest Charge on Cash Advances
$4.58
Total Interest for this Period
$10.89 8
What is Andrew’s minimum payment due for this billing cycle?
2012 Totals Year-to-Date
Total fees charged in 2012
$90.14
Total interest charged in 2012
$18.27 9
$53.00
Interest Charge Calculation
Type of Balance
Annual Percentage Rate (APR)
Balance Subject to Interest Rate
Interest Charge
Purchases
14.99%
$512.14
$6.31
Cash Advances
21.99%
$253.50
$4.58
Balance Transfers
0.00%
$637.50
$0.00 10

4. Late Payment Warning Minimum Payment Warning
States what will happen if a payment is late- usually additional fees and a higher interest rate
Andrew’s Credit Card Statement 2
Summary of Account Activity
Previous Balance
535.07
Payments
Purchases
Balance Transfers
Cash Advances
Past Due Amount
+0.00
Fees Charged
+69.45
Interest Charged
+10.89
New Balance
$1,784.53
Credit Limit
$2,000.00
Available credit
$215.47
Statement closing date
3/22/2012
Days in billing cycle 30
Payment Information
New Balance $
Minimum Payment Due
$53.00
Payment Due Date
4/20/12
Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay a $35 fee and your APR’s may be increased up to the Penalty rate of 28.99%
Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance. For example… 3 1 4
If you make no additional charges using this card and each month you pay…
You will pay off the balance shown on this statement in about…
And you will end up paying an estimated total of…
Only the minimum payment
10 years
$3,284
$62
3 years
$2,232
Minimum Payment Warning
Estimate of how long it can take to pay off a credit card balance if only the minimum payment is made each month 5 6
Notice of Changes to Your Interest Rates
You have triggered the Penalty APR of 28.99%. This change will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, the Penalty APR will apply to these transactions. We may keep the APR at this level indefinitely.
Transactions made before 4/9/12: Current rates will continue to apply to these transactions. If you become more than 60 days late on your account, the Penalty APR will apply to those transactions as well.
Important Changes to Your Account Terms
The following is a summary of changes that are being made to your account terms. For more detailed information, please refer to the booklet enclosed with this statement. These changes will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, APR for Purchases will increase to 16.99%.
Transactions made before 4/9/12: Current APRs will continue to apply to these transactions. 7
Transactions
Reference Number
Trans Date
Post Date
Description of Transaction or Credit
Amount
XXXX1
2/22
2/23
Store #1
$529.57
XXXX2
2/25
2/26
Payment $
XXXX3
Cash Advance
$318.00
XXXX4
3/15
3/17
Balance Transfer
$785.00
Fees
XXXX5
Late Fee
$35.00
XXXX6
2/27
Balance Transfer Fee
$23.55
XXXX7
2/28
Cash Advance Fee
$10.90
Total Fees for this Period
$69.45
Interest Charged
Interest Charge on Purchases
$6.31
Interest Charge on Cash Advances
$4.58
Total Interest for this Period
$10.89 8
How long will it take Andrew to pay off the balance of his credit card if he only pays the minimum payment?
2012 Totals Year-to-Date
Total fees charged in 2012
$90.14
Total interest charged in 2012
$18.27 9
Interest Charge Calculation
Type of Balance
Annual Percentage Rate (APR)
Balance Subject to Interest Rate
Interest Charge
Purchases
14.99%
$512.14
$6.31
Cash Advances
21.99%
$253.50
$4.58
Balance Transfers
0.00%
$637.50
$0.00
10 years 10

5. Notice of Changes to Your Interest Rates
Andrew’s Credit Card Statement 2
Summary of Account Activity
Previous Balance
535.07
Payments
Purchases
Balance Transfers
Cash Advances
Past Due Amount
+0.00
Fees Charged
+69.45
Interest Charged
+10.89
New Balance
$1,784.53
Credit Limit
$2,000.00
Available credit
$215.47
Statement closing date
3/22/2012
Days in billing cycle 30
Payment Information
New Balance $
Minimum Payment Due
$53.00
Payment Due Date
4/20/12
Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay a $35 fee and your APR’s may be increased up to the Penalty rate of 28.99%
Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance. For example… 3 1
Notice of Changes to Your Interest Rates
If a cardholder triggers the Penalty APR, they must be notified that their rates will be increasing 4
If you make no additional charges using this card and each month you pay…
You will pay off the balance shown on this statement in about…
And you will end up paying an estimated total of…
Only the minimum payment
10 years
$3,284
$62
3 years
$2,232 5 6
Notice of Changes to Your Interest Rates
You have triggered the Penalty APR of 28.99%. This change will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, the Penalty APR will apply to these transactions. We may keep the APR at this level indefinitely.
Transactions made before 4/9/12: Current rates will continue to apply to these transactions. If you become more than 60 days late on your account, the Penalty APR will apply to those transactions as well.
Important Changes to Your Account Terms
The following is a summary of changes that are being made to your account terms. For more detailed information, please refer to the booklet enclosed with this statement. These changes will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, APR for Purchases will increase to 16.99%.
Transactions made before 4/9/12: Current APRs will continue to apply to these transactions. 7
Transactions
Reference Number
Trans Date
Post Date
Description of Transaction or Credit
Amount
XXXX1
2/22
2/23
Store #1
$529.57
XXXX2
2/25
2/26
Payment $
XXXX3
Cash Advance
$318.00
XXXX4
3/15
3/17
Balance Transfer
$785.00
Fees
XXXX5
Late Fee
$35.00
XXXX6
2/27
Balance Transfer Fee
$23.55
XXXX7
2/28
Cash Advance Fee
$10.90
Total Fees for this Period
$69.45
Interest Charged
Interest Charge on Purchases
$6.31
Interest Charge on Cash Advances
$4.58
Total Interest for this Period
$10.89
Has Andrew triggered
the Penalty APR? 8
Yes, he will pay 28.99% on all transactions made after 4/9/12.
2012 Totals Year-to-Date
Total fees charged in 2012
$90.14
Total interest charged in 2012
$18.27 9
Interest Charge Calculation
Type of Balance
Annual Percentage Rate (APR)
Balance Subject to Interest Rate
Interest Charge
Purchases
14.99%
$512.14
$6.31
Cash Advances
21.99%
$253.50
$4.58
Balance Transfers
0.00%
$637.50
$0.00 10

6. Important Changes to Your Account Terms
Cardholders must be notified of any raise in rates or fees or any other significant changes to the account at least 45 days before the changes take effect
Any changes can only apply to future transactions (new charges)
Consumer has the option of closing the account before the changes go into effect
Andrew’s Credit Card Statement 2
Summary of Account Activity
Previous Balance
535.07
Payments
Purchases
Balance Transfers
Cash Advances
Past Due Amount
+0.00
Fees Charged
+69.45
Interest Charged
+10.89
New Balance
$1,784.53
Credit Limit
$2,000.00
Available credit
$215.47
Statement closing date
3/22/2012
Days in billing cycle 30
Payment Information
New Balance $
Minimum Payment Due
$53.00
Payment Due Date
4/20/12
Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay a $35 fee and your APR’s may be increased up to the Penalty rate of 28.99%
Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance. For example… 3 1 4
If you make no additional charges using this card and each month you pay…
You will pay off the balance shown on this statement in about…
And you will end up paying an estimated total of…
Only the minimum payment
10 years
$3,284
$62
3 years
$2,232 5 6
Notice of Changes to Your Interest Rates
You have triggered the Penalty APR of 28.99%. This change will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, the Penalty APR will apply to these transactions. We may keep the APR at this level indefinitely.
Transactions made before 4/9/12: Current rates will continue to apply to these transactions. If you become more than 60 days late on your account, the Penalty APR will apply to those transactions as well.
Important Changes to Your Account Terms
The following is a summary of changes that are being made to your account terms. For more detailed information, please refer to the booklet enclosed with this statement. These changes will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, APR for Purchases will increase to 16.99%.
Transactions made before 4/9/12: Current APRs will continue to apply to these transactions. 7
Transactions
Reference Number
Trans Date
Post Date
Description of Transaction or Credit
Amount
XXXX1
2/22
2/23
Store #1
$529.57
XXXX2
2/25
2/26
Payment $
XXXX3
Cash Advance
$318.00
XXXX4
3/15
3/17
Balance Transfer
$785.00
Fees
XXXX5
Late Fee
$35.00
XXXX6
2/27
Balance Transfer Fee
$23.55
XXXX7
2/28
Cash Advance Fee
$10.90
Total Fees for this Period
$69.45
Interest Charged
Interest Charge on Purchases
$6.31
Interest Charge on Cash Advances
$4.58
Total Interest for this Period
$10.89 8
2012 Totals Year-to-Date
Total fees charged in 2012
$90.14
Total interest charged in 2012
$18.27 9
Interest Charge Calculation
Type of Balance
Annual Percentage Rate (APR)
Balance Subject to Interest Rate
Interest Charge
Purchases
14.99%
$512.14
$6.31
Cash Advances
21.99%
$253.50
$4.58
Balance Transfers
0.00%
$637.50
$0.00 10

7. Transactions Fees and Interest Charged
Includes a list of all the transactions that have occurred since the last statement
Should be reviewed for errors
Andrew’s Credit Card Statement 2
Summary of Account Activity
Previous Balance
535.07
Payments
Purchases
Balance Transfers
Cash Advances
Past Due Amount
+0.00
Fees Charged
+69.45
Interest Charged
+10.89
New Balance
$1,784.53
Credit Limit
$2,000.00
Available credit
$215.47
Statement closing date
3/22/2012
Days in billing cycle 30
Payment Information
New Balance $
Minimum Payment Due
$53.00
Payment Due Date
4/20/12
Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay a $35 fee and your APR’s may be increased up to the Penalty rate of 28.99%
Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance. For example… 3 1 4
If you make no additional charges using this card and each month you pay…
You will pay off the balance shown on this statement in about…
And you will end up paying an estimated total of…
Only the minimum payment
10 years
$3,284
$62
3 years
$2,232 5 6
Notice of Changes to Your Interest Rates
You have triggered the Penalty APR of 28.99%. This change will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, the Penalty APR will apply to these transactions. We may keep the APR at this level indefinitely.
Transactions made before 4/9/12: Current rates will continue to apply to these transactions. If you become more than 60 days late on your account, the Penalty APR will apply to those transactions as well.
Important Changes to Your Account Terms
The following is a summary of changes that are being made to your account terms. For more detailed information, please refer to the booklet enclosed with this statement. These changes will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, APR for Purchases will increase to 16.99%.
Transactions made before 4/9/12: Current APRs will continue to apply to these transactions.
Fees and Interest Charged
Must list the fees and interest charges separately on the monthly statement 7
Transactions
Reference Number
Trans Date
Post Date
Description of Transaction or Credit
Amount
XXXX1
2/22
2/23
Store #1
$529.57
XXXX2
2/25
2/26
Payment $
XXXX3
Cash Advance
$318.00
XXXX4
3/15
3/17
Balance Transfer
$785.00
Fees
XXXX5
Late Fee
$35.00
XXXX6
2/27
Balance Transfer Fee
$23.55
XXXX7
2/28
Cash Advance Fee
$10.90
Total Fees for this Period
$69.45
Interest Charged
Interest Charge on Purchases
$6.31
Interest Charge on Cash Advances
$4.58
Total Interest for this Period
$10.89 8
2012 Totals Year-to-Date
Total fees charged in 2012
$90.14
Total interest charged in 2012
$18.27 9
Did Andrew pay a late fee?
Interest Charge Calculation
Type of Balance
Annual Percentage Rate (APR)
Balance Subject to Interest Rate
Interest Charge
Purchases
14.99%
$512.14
$6.31
Cash Advances
21.99%
$253.50
$4.58
Balance Transfers
0.00%
$637.50
$0.00
Yes, he paid $35.00 for a late fee. 10

8. Year-to-Date Totals Interest Charge Calculation
Total amount paid in fees and interest charges for the current year
Andrew’s Credit Card Statement 2
Summary of Account Activity
Previous Balance
535.07
Payments
Purchases
Balance Transfers
Cash Advances
Past Due Amount
+0.00
Fees Charged
+69.45
Interest Charged
+10.89
New Balance
$1,784.53
Credit Limit
$2,000.00
Available credit
$215.47
Statement closing date
3/22/2012
Days in billing cycle 30
Payment Information
New Balance $
Minimum Payment Due
$53.00
Payment Due Date
4/20/12
Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay a $35 fee and your APR’s may be increased up to the Penalty rate of 28.99%
Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance. For example… 3 1 4
If you make no additional charges using this card and each month you pay…
You will pay off the balance shown on this statement in about…
And you will end up paying an estimated total of…
Only the minimum payment
10 years
$3,284
$62
3 years
$2,232
What is the total amount of interest Andrew has paid in the year 2012? 5 6
Notice of Changes to Your Interest Rates
You have triggered the Penalty APR of 28.99%. This change will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, the Penalty APR will apply to these transactions. We may keep the APR at this level indefinitely.
Transactions made before 4/9/12: Current rates will continue to apply to these transactions. If you become more than 60 days late on your account, the Penalty APR will apply to those transactions as well.
Important Changes to Your Account Terms
The following is a summary of changes that are being made to your account terms. For more detailed information, please refer to the booklet enclosed with this statement. These changes will impact your account as follows:
Transactions made on or after 4/9/12: As of 5/10/12, APR for Purchases will increase to 16.99%.
Transactions made before 4/9/12: Current APRs will continue to apply to these transactions.
$18.27 7
Transactions
Reference Number
Trans Date
Post Date
Description of Transaction or Credit
Amount
XXXX1
2/22
2/23
Store #1
$529.57
XXXX2
2/25
2/26
Payment $
XXXX3
Cash Advance
$318.00
XXXX4
3/15
3/17
Balance Transfer
$785.00
Fees
XXXX5
Late Fee
$35.00
XXXX6
2/27
Balance Transfer Fee
$23.55
XXXX7
2/28
Cash Advance Fee
$10.90
Total Fees for this Period
$69.45
Interest Charged
Interest Charge on Purchases
$6.31
Interest Charge on Cash Advances
$4.58
Total Interest for this Period
$10.89
Interest Charge Calculation
Includes a summary of the different types of transactions 8
2012 Totals Year-to-Date
Total fees charged in 2012
$90.14
Total interest charged in 2012
$18.27 9
Why is it important to understand how to read a credit card statement?
Interest Charge Calculation
Type of Balance
Annual Percentage Rate (APR)
Balance Subject to Interest Rate
Interest Charge
Purchases
14.99%
$512.14
$6.31
Cash Advances
21.99%
$253.50
$4.58
Balance Transfers
0.00%
$637.50
$0.00 10

9. Truth in Lending Act
Limits liability for unauthorized credit card charges to $50.00 per card
Must write a letter within 60 days of the first bill containing the error
If a credit card number is used fraudulently but the card itself was not used, the individual has no personal liability

10. Summary
A credit card is pre-approved credit which can be used for the purchase of goods and services now and payment of them later
To avoid paying interest on a credit card, pay the balance in full every month
A credit card can have a positive or a negative impact on an individual’s credit history

11. Summary
Credit card companies are required to disclose the terms and fees of a credit card in the Schumer’s box
Credit card statements outline important information about a credit card and should be checked carefully for errors
Consumers have many protections and rights in regards to credit card use