This is what the new credit card statements will look like

Banco Azteca’s financial education department “Learn and Grow” recalled that as of October 15, 2024, by official order of Condusef, all financial institutions that issue credit cards in the country must provide a new universal account statement.

The bank stressed that the new format is more organized, visual and detailed, providing clear and accurate information to help users better manage their personal finances.

Banco Azteca explained that credit card users should begin to familiarize themselves with the new way in which information will be made available, where the following points stand out:

Goodbye to the small print: The new statement provides clear and detailed information on the time required to settle a debt, the interest and fees paid, the use of the card, the destination of payments and the credit limit.

Total breakdown: It includes a complete breakdown of interest and fees for the last 12 months, showing how long it would take to pay off the debt if you pay just the minimum, twice the minimum and up to five times the minimum, allowing you to make informed financial decisions.

Overdrawn balance without secrets: Specifies the amount on which monthly interest, commissions for the period and the cumulative amount paid in recent months are calculated.

Intuitive charts and tables: They facilitate the understanding of the financial statement, clearly showing the balance on which the interest for the period was calculated, the distribution of payments, purchase credits and revolving charges, and the balance in favor of the client’s account.

Banco Azteca’s financial and business education program recalled that it has created several digital materials to explain this new format, which are available on its social networks, as well as on the screens of its bank branches.