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Billing Statement

A billing statement is a summarized bill that is sent by a creditor to all its customers every month. The majority of billing statements sent out are sent by issuers of credit cards. However, most every type of lender will send, either electronically or via mail, a billing statement. A billing statement is a summary of all activity related to a specific account that took place during a previous 30-day cycle. The billing statement will show all new purchases and all payments received, as well as the current balance of the account, the finance charge that has been calculated, other fees, the available credit and the credit limit.
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