Statement Cycle
A statement cycle is the recurring schedule for generating account statements. It determines when a new statement period begins and ends.
Statement cycle dates can affect interest calculations, fee assessments, and payment due dates. Many banks allow customers to choose a preferred cycle date.
Related Terms
Statement Period
A statement period is the date range covered by a bank statement. It includes all transactions poste...
Bank Statement
A bank statement is a document issued by a financial institution that summarizes all transactions in...
Interest
Interest is the cost of borrowing money or the return earned on deposited funds, typically expressed...
APR
Annual Percentage Rate
APR is the annual rate charged for borrowing or earned through investment, expressed as a percentage...
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