07/29/2026
đ Most people look at their credit card balance, make a payment, and move on.
But there is one section on your statement that deserves your attention.
đ Under the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 (CARD Act), credit card issuers are generally required to show how long it could take to pay off your balance if you make only the minimum payment each month. They also show an example of how paying more each month could help you pay off the balance sooner and reduce the total amount you pay.
đł The numbers can be surprising.
đł If you carry a balance, take a minute to check your next statement. That one section can help you better understand the true cost of carrying credit card debt.
âšď¸ If you pay your statement balance in full each month, have a $0 balance, or your account does not meet the requirements for this disclosure, you may not see this section on your statement.
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Need help building a plan to pay down debt or improve your overall finances? Bostic Accounting is here to help.