I'm new to credit cards. What is a "statement balance" versus a "current balance"? Same or different?

I recently applied for my first credit card and got approved, and have an online account. However, I am a bit confused. My current balance stands at about $50, but my statement balance is at $0. My guess is that the statement balance is the amount I am actually billed, whereas the current balance is simply how much I've used during the current billing cycle? What further confuses me is that the due date is today, but when I try to pay, I can't. I selected "pay balance in full," but it didn't work because it was at $0. Then I tried "pay minimum balance," and that didn't work either because that was also at $0. So, do I owe nothing as of now, and should I wait until a statement balance shows up? Help with this would be great. Thank you.

6 years ago - 7 answers

Best Answer

Chosen by Asker

Okay, you have a fairly good understanding of current balance and statement balance. On a credit card there is a closing date , lets say the closing date is the 10th of the month , anything from the 11th of the prior month to the 10th of the current month are things you'd be billed for that's your statement balance it also includes interest from the prior month if you didnt pay that statement in full. The current balance are charges after the statement closing date, those are things you have not been billed for. The reason you cant make a payment online is because you havent been billed for anything yet. You only owe , when there is a statement balance.


6 years ago

Other Answers

statement balance is the total at the time the statement was printed. Current balance can be gotten by calling the 1-800 number or looking online. Current balance is most up to date!

So trying to pay a zero balance won't work.. you have to wait a little longer when you are in the next billing cycle.

by kcck00 - 6 years ago

You get a statement at the end of each month... so if you just got the card your balance is correct at saying $0.

If you don't charge anymore at the end of the month your statement balance will be $50.

Current balance is simply how much you've charged during that period of time.

Sometimes it takes a while for the web system to figure out that you owe more than $0, so I would wait a few days and try paying again. As long as your statement balance is at $0 you do not owe anything as of now.

by Blondie918 - 6 years ago

The current balance is everything you owe as of right now, the statement balance is what you owed as of the statement date (this is probably for November's credit card statement). The due date and due amount refers to that statement, which since the statement balance is 0, is why it won't let you pay. The current $50 balance will reflect on your statement for December along with any other charges you make. Hope I explained it well enough

by lepr0kan - 6 years ago

The current balance was an amount you charged after the statement cut off date. So on your next statement you will receive a current balance of $50 plus whatever you charge up to the the cut off date.

by Kelsey - 6 years ago

Your current balance reflects all payments and charges posted to the account after the closing date. Your statement balance is the balance on the closing date.

There should be an option to pay another amount so you can make your payment at any time.

by Butterfly Lover - 6 years ago

No, they are not the same.

As you use your cards, it goes to your CURRENT balance. Once a month, they prepare a statement. At that moment, your current balance becomes your STATEMENT balance.

If you continue to spend, your STATEMENT balance remain the same. Your CURRENT balance will continue to increase. Next month, your new current balance will become your statement balance. Your understanding is basically correct.

Most credit company will allow you to pay your current balance before it shows up in your statetement balance. Does it have an option to pay any amount? Other than that, you'll have to call them and find out why you can't make a payment until the statement balance is positive.

by tkquestion - 6 years ago