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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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