What does your credit or debit card statement tell you?

Hint: It’s more than just transactions. 

For many people, a credit or debit card statement is just another email or piece of paper they glance at—until something goes wrong. But in reality, your monthly statement holds valuable insights into your financial habits, security, and future financial health.

Understanding how to read and interpret your statement can help you:

✅ Spot fraudulent transactions before they escalate.
✅ Improve your budgeting and spending patterns.
✅ Avoid unnecessary fees and interest charges.

〽️ 1. Your spending habits - Are you on track?

One of the biggest benefits of reviewing your statement is understanding how you spend your money.

✅ Spending Categories – Most statements group your expenses into categories like food, shopping, travel, and utilities. This can help you see where most of your money goes each month.
✅ Recurring Charges – Are you still paying for a subscription you don’t use? Many people forget about auto-renewals for streaming services, gym memberships, or software.
✅ Impulse Spending – If your statement is filled with frequent small purchases, they could be silently eating into your budget.

📌 Tip: Categorise your expenses when you extract your credit card statements to be able to better track what you are spending money on. 

💰 2. Hidden fees and charges - Are you paying more than you should?

Credit cards often have small fees that add up over time. Reviewing your statement can help you identify:

🔹 Late Payment Fees – If you see one, it’s a sign that you need to set up payment reminders on your phone.
🔹 Foreign Transaction Fees – If you travel frequently, consider switching to a low-foreign-fee card.
🔹 Overdraft Fees – These appear when you spend more than your account balance allows.

📌 Tip: If you spot a fee you don’t understand, call your bank. Sometimes, fees can be waived if it’s your first time incurring them.

📑 3. Fraud detection - Spot suspicious activity early

🔍 Have you ever noticed a small, unfamiliar charge on your statement? This could be a test charge by fraudsters before making a larger unauthorized transaction.

Things to look for:
✅ Unknown merchants or locations – Any purchase that you don’t recognize.
✅ Duplicate charges – A transaction charged twice by mistake.
✅ Microcharges – Fraudsters often test small amounts (like MUR 1–50) before attempting bigger transactions.

📌 Tip: If you see anything suspicious, report it immediately and freeze your card if necessary on Juice. MCB provides zero-liability protection if you report fraud early.

📈 4. Interest charges - The cost of carrying debt

If you carry a balance on your credit card, interest charges will appear on your statement. This tells you:

💸 How much your debt is growing – If your interest is adding up, it’s a sign that you need a repayment strategy.
💸 What your APR (Annual Percentage Rate) is – The higher the APR, the more expensive your debt becomes over time.

📌 Tip: To avoid high interest, always try to pay more than the minimum payment. If possible, pay off your balance in full each month.

💳 5. Credit utilisation - How it affects your credit score

Your statement also impacts your credit score. One key factor is credit utilization, which is the percentage of your available credit that you’ve used.

✅ Ideal Utilization Rate: Keep your balance below 30% of your credit limit to maintain a healthy credit score.
✅ Warning Sign: If your statement shows that you're maxing out your card, it’s a sign that you may need to adjust your budget.

📌 Tip: Consider setting up multiple small payments throughout the month instead of waiting for the due date—this can help lower your credit utilization.

📌 Takeaways

✔  Your card statement isn’t just a list of transactions—it’s a powerful tool for better financial management.
✔  Use it to analyze your spending habits, detect fees, catch fraud, and manage debt.
✔  Review it every month to stay in control of your finances.

Understanding your statement can help you spend smarter, save more, and avoid unnecessary financial pitfalls.

Find out more about your credit card options here.