Understanding UnionBank Credit Card Statement Terms: A Beginner’s Guide
Ever opened your UnionBank credit card statement and felt confused by all the terms — statement date, due date, minimum amount due, finance charge — and thought, “Ano ba ibig sabihin ng lahat ng ito?”
You’re not alone. Many first-time cardholders in the Philippines find their first credit card statement hard to understand. But learning how to read it properly is key to managing your credit card wisely — and avoiding unwanted interest or penalties.
In this guide, we’ll break down every major term on your UnionBank Credit Card Statement in simple, everyday language. You’ll learn how to read, calculate, and use it to your financial advantage.
💳 Why Understanding Your Credit Card Statement Matters
Your credit card statement isn’t just a list of transactions — it’s your monthly financial summary. It shows how much you spent, what you owe, and when you need to pay it back.
For new users, understanding your statement helps you:
Avoid late fees and finance charges
Track your spending habits
Build a good credit score
Know how much credit you still have available
In short, the more you understand it, the smarter your financial decisions become.
🧾 Key Sections of a UnionBank Credit Card Statement
Let’s go over the most important parts of your statement, one by one.
🗓️ 1. Statement Date
This is the cutoff date for your billing cycle — meaning all purchases, payments, and fees made before this date are included in your current statement.
📘 Example: If your statement date is October 15, any transactions from September 16 to October 15 will appear in that billing cycle.
Tip: Your due date usually comes 20 days after your statement date.
💰 2. Payment Due Date
This is the last day you can pay your balance without being charged interest or late fees.
If you pay in full before this date, you’ll enjoy zero interest on your purchases.
📘 Example: Statement Date: October 15 Payment Due Date: November 4
You have 20 days to settle your bill interest-free.
💳 3. Minimum Amount Due
This is the smallest amount you need to pay on or before the due date to keep your account active and avoid penalties.
However, paying only the minimum means you’ll carry a balance — and that balance will accrue interest the next month.
📘 Example: If your total balance is ₱10,000 and the minimum due is ₱1,000, paying just ₱1,000 avoids late fees but you’ll still owe ₱9,000 next month (plus interest).
💡 Pro Tip: Always try to pay your full amount due or at least more than the minimum.
🔢 4. Total Amount Due
This is your total balance — including all purchases, fees, and interest (if any) up to your statement date.
If you pay this in full every month, you won’t be charged any finance charges.
📈 5. Credit Limit and Available Credit
Credit Limit – the maximum amount you can spend using your card.
Available Credit – how much of that limit remains unused.
📘 Example: Credit Limit: ₱30,000 Total Amount Due: ₱10,000 Available Credit: ₱20,000
⚠️ If you go over your credit limit, UnionBank may charge an over-limit fee or decline your next transaction.
🔄 6. Previous Balance and Payments
This section shows how much you owed in your last statement and how much you paid during the month.
If you didn’t pay the full balance, the remaining amount rolls over and accrues interest.
🧮 7. Finance Charges and Interest
These are the fees added when you don’t pay your balance in full.
UnionBank’s credit card interest rates can range around 2% to 3% per month (subject to BSP regulations). It may not sound like much, but it adds up fast.
📘 Example: If you owe ₱10,000 and pay only ₱1,000, the remaining ₱9,000 will earn about ₱180–₱270 in interest next month.
💡 Use the Credit Card Cost Calculator to estimate how much interest you’ll pay if you carry a balance. This tool helps you see the real cost of paying only the minimum amount due.
📆 8. Transaction Summary
This is the list of everything you did with your card — purchases, payments, cash advances, and fees.
You can use this section to:
Spot unauthorized charges
Track your spending categories (food, travel, utilities)
Verify installment purchases
💸 9. Installment Transactions
If you availed of an installment plan (for example, 0% on gadgets), each month’s portion appears here.
It’s important to track how many months are left on your installment to plan your future spending.
🔔 10. Rewards, Fees, and Adjustments
This section covers:
Rewards points earned or redeemed
Annual fees or late payment fees
Reversals for refunds or disputes
If you spot something off, contact UnionBank’s customer service immediately to verify.
🧠 How to Read Your Statement Like a Pro
Here’s a simple way to interpret your statement smartly every month:
Estimate future costs if paying in installments or minimum only
⚙️ Common Questions from New Cardholders
“Why do I still have a balance even after paying last month?”
You may have paid after the statement date, meaning new charges appeared in the next cycle. Always match your payment timing with your statement date.
“I paid my minimum due — why am I still charged interest?”
Paying the minimum keeps your account active but doesn’t stop interest. The unpaid balance continues to generate charges.
“What happens if I miss a payment?”
UnionBank may charge a late payment fee and interest on the unpaid balance, which could also affect your credit score.
“Can I change my due date?”
Some cards allow this. You can call UnionBank’s hotline to request a new billing cycle that better fits your payday schedule.
🧩 Example Breakdown of a UnionBank Statement
Section
Example Value
Meaning
Statement Date
October 15
Cutoff for transactions
Due Date
November 4
Last day to pay without penalty
Credit Limit
₱30,000
Maximum spending limit
Total Amount Due
₱10,000
Amount to pay this cycle
Minimum Amount Due
₱1,000
Minimum payment to avoid late fee
Available Credit
₱20,000
Remaining spending room
Finance Charge
₱270
Interest for unpaid balance
By reading this properly, you’ll always know your real debt situation and avoid surprises.
🧭 How to Use Your Statement to Improve Credit Health
Understanding your statement isn’t just about avoiding fees — it’s about building good financial habits.
Here’s how to use it to your advantage:
Pay on Time, Every Time Even if it’s just before midnight of the due date, always pay on or before the deadline.
Keep Utilization Below 30% If your limit is ₱30,000, try to keep your balance below ₱9,000. This improves your credit score and avoids over-limit charges.
Avoid Cash Advances These incur higher interest and no grace period. Use them only for emergencies.
Review Monthly Treat your statement like your monthly “financial mirror.” It shows your habits — and where you can improve.
⚡ TL;DR (Too Long; Didn’t Read)
If you’re new to UnionBank credit cards:
Your Statement Date shows when your billing cycle ends
Your Due Date is when payment is required
Minimum Due keeps your account active but still earns interest
Total Due = Pay in full to avoid charges
Always check your Credit Limit and Available Credit
Understanding these key terms helps you manage your card better, avoid debt, and build your financial confidence.
❓ FAQs: UnionBank Credit Card Statement Explained
1. How often do I receive my UnionBank credit card statement?
Once a month, usually through email or the UnionBank app.
2. Can I change my statement date or due date?
You can request a change by contacting UnionBank’s hotline, depending on your card type.
3. What happens if I pay less than the minimum amount due?
Your payment won’t count as “on time,” and you’ll be charged late fees and interest on the full balance.
4. Can I view my statement online?
Yes — just log in to your UnionBank online account or mobile app to view or download your latest statement.
5. Why are there “finance charges” even if I didn’t use my card this month?
These are carried over from an unpaid balance in your previous statement.
🏁 Final Thoughts
Your UnionBank credit card statement may look intimidating at first, but it’s actually your best financial tool once you know how to read it.
By understanding each term — from statement date to finance charges — you gain control over your spending, improve your credit standing, and save money in the long run.
And before you make your next big purchase, use the Credit Card Cost Calculator to see exactly how much your purchase will cost if you pay in installments or carry a balance.
Smart cardholders don’t just spend — they understand how their credit card really works.
