Australia and New Zealand Banking Group Limited ABN 11 005 357 522 Item No. 80193 08.2003 How credit cards work
For more information on ANZ credit
cards, please call 13 22 73, visit our
website at anz.com or ask at your
nearest ANZ branch.
Information on the statement
Credit card statements are usually issued monthly and include:
> details of transactions made for that statement period
> interest and other charges
> a running credit balance
> payments made and payments due.
Always read your statement carefully and make sure that you
understand your obligations as a credit card holder. Statement
information varies for each bank, however you should always
check the amount you owe (your closing balance) and when it
has to be paid, the amount of credit you’ve used, and the
amount of credit available to you.
How much do I have to pay?
To minimise interest, try to pay the closing balance (whole
amount owing), every month by the day the payment is due.
If you’re not able to pay the closing balance, you should pay
part of it, or at least the minimum payment. The minimum
payment is the least amount you must pay each month to keep
operating your account. If you don’t pay the minimum payment
by the due date, your bank may charge a late payment fee and
stop or close your credit card.
How can I pay my statement?
Most banks offer a range of payment options which are usually
listed on your statement.
What if I spend over my limit?
If you do a transaction that takes you over your credit limit,
you must pay the excess amount immediately. If you don’t,
your bank may charge an overlimit fee or close your card.
Using your card
When you use your card, your transaction details are sent from
the retailer or service provider to your bank. Your available
credit is then reduced by the amount of the transaction and
the details are recorded on your credit card statement.
It’s important to carefully check the transaction amount and
other details before you authorise the transaction, and again
when you receive your statement, t