Category Archives: credit cards

Current Balance versus Outstanding Balance

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When you call to know what your balance is, you have to clarify what type of balance you are asking about. Typically, the credit card customer service representative is going to quote you your current balance – also known as the statement balance. What if you wanted to know your outstanding balance, though? Continue reading →

Types of Credit Card Balance

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You’d think your credit card balance is whatever you have on your card, right? Well, the truth of the matter is that credit card companies actually segregate balances.

Your credit card company’s customer service rep may tell you what your total balance is – after all, that’s what you ask for whenever you call, right? However, the total balance is actually the sum of several types of balances. Why is this piece of information significant, you ask? Continue reading →