The statement balance due is the amount you owe on your account at the end of a billing cycle. This amount is usually found on your credit card statement. The account balance is the current amount you owe on your account, which includes any new purchases or payments made since the last statement was issued.
Here's a simple way to think about the difference:
- Statement balance due: Your balance at the end of last month.
- Account balance: Your balance as of right now.
Example:
- Imagine you have a statement balance due of $500. You make a $100 payment on your credit card after the statement date. You then make a $200 purchase.
- Your statement balance due is still $500.
- Your account balance is now $600 (the original $500 + $200 purchase - $100 payment).
In short, the statement balance due is a snapshot of your debt at the end of a billing cycle, while the account balance is a real-time reflection of your current outstanding debt.
