Question 1

What is the last statement balance on a credit card?

Accepted Answer

The last statement balance refers to the total amount you owed at the end of your previous billing cycle. It's the balance from your most recent statement before any new charges or payments made in the current cycle. This figure helps track whether you paid off your previous balance in full.

Question 2

What happens when a CD matures?

Accepted Answer

At maturity, you can withdraw funds plus interest, renew the CD at current rates, or roll it into a different CD term. Most banks have a grace period (7-10 days) to decide without penalty.

Question 3

What is the difference between secured and unsecured loans?

Accepted Answer

Secured loans require collateral (house, car) and offer lower rates because the lender can seize assets if you default. Unsecured loans have no collateral, higher interest rates, and approval based primarily on creditworthiness.

Question 4

What information is included in a bank statement?

Accepted Answer

Bank statements include account holder details, account number, statement period, opening and closing balance, all transactions (date, description, amount), deposits, withdrawals, fees, interest earned, and sometimes check images.

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Frequently Asked Questions

What is the last statement balance on a credit card?

What happens when a CD matures?

What is the difference between secured and unsecured loans?

What information is included in a bank statement?

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