What's your credit card balance? If you choose to answer that question – and you probably shouldn't, because it's none of our business – you should answer it with a question of your own. "Do you mean my current balance or my statement balance?"
Do you know the difference between the two balances? Your current balance is the total amount of unpaid charges and fees that you owe on your card at any moment in time, independent of the billing cycle. Your statement balance is a reflection of what you owe at the end of a billing cycle.
Typically, a billing cycle is one month long (although it doesn't necessarily correlate to the beginning and end of the month). The statement balance is the one that you must pay in full to avoid incurring interest charges.
Credit cards usually offer a grace period, typically anywhere from two to three weeks, to pay off your statement balance. By p...
from MoneyTips https://www.moneytips.com/credit-card-current-balance-and-statement-balance-whats-the-difference
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