Statement Balance vs. Current Balance: What Do They Mean?

Learn more about credit card balances and payment options

There’s a lot of information in a monthly Capital One® credit card statement. A lot.

And when it comes time to make a payment, a few figures and terms might cause some confusion. What does current balance mean? Is it the same as your statement balance? And how do those multiple balances relate to the minimum payment?

Learning the difference between your statement balance and your current balance can help you use your card responsibly. You’ll have a better sense of your available credit. You’ll know how much you owe at a given time. And you’ll be able to better understand how different payment options could affect interest rates and fees.

Here are a few things to remember when you consider payment options and compare your statement balance to your current balance.

Types of Credit Card Balances

Statement Balance

At Capital One, your statement balance is what you owe at the end of a billing cycle. Think of it like a monthly snapshot of your account. It’s the sum of all the purchases, fees, interest and unpaid balances on your card since the previous statement. 

Paying it off every month on or before the due date can help you avoid paying interest. It’s also important to note that once it’s calculated, the statement balance remains the same until the end of the next billing cycle. That’s one big difference between a statement balance and a current balance.

Current Balance

If you’re looking at your Capital One account online, your current balance is a total of all charges, interest, credits and payments on to your account. Think of it as a real-time view of what you owe. 

It changes each time your card is used. Pending purchases are not reflected in your current balance until they post, however.

Choosing to pay it temporarily eliminates the balance on your card. But pending transactions, fees, and interest charges may post later and require additional payments. 

Other Payment Options and Considerations

Minimum Payment

Your minimum payment is the minimum amount you must pay to stay in good standing with your credit card company. Be sure to pay it by the due date to avoid late fees. 

Keep in mind, though, the trade-off for making only the minimum payment is winding up with more interest fees in the long run. 

Other Payment Amounts

You may also be able to pay somewhere in between your current balance and the minimum payment. If you can afford it, paying more than the minimum can help you save money on interest by reducing your balance faster.

If you accidentally overpay your balance, don’t sweat it. You’re not at risk of losing that money. In the case of credit balances, Capital One will credit your account for the amount or give you a refund within seven business days of your written request for one.

Interest Saver Payment

Capital One offers Interest Saver Payments if you’re carrying debt from a promotional rate balance transfer. Cardholders who transfer a balance can pay the Interest Saver Payment (the minimum payment plus all non-promotional balances, including purchases, cash advances, fees and finance charges) by the due date each month to avoid paying interest on new purchase transactions.

Understanding balances and payment options can help you use your credit card responsibly. The information—along with transaction records found in your statements—can also be useful for creating a budget. And that’s a great starting point for getting the most from your card.

Learn more about Capital One’s response to COVID-19 and resources available to customers. For information about COVID-19, head over to the Centers for Disease Control and Prevention

Government and private relief efforts vary by location and may have changed since this article was published. Consult a financial adviser or the relevant government agencies and private lenders for the most current information.

We hope you found this helpful. Our content is not intended to provide legal, investment or financial advice or to indicate that a particular Capital One product or service is available or right for you. For specific advice about your unique circumstances, consider talking with a qualified professional.

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