Punjab National Bank has a wide network of credit card users across the country. The bank offers various types of credit cards to different classes. The credit card offers of the bank have been extremely competitive and unique.
A credit card is used primarily to purchase something online and offline and remit bills. It is a substitute for cash transactions. Due to which, many people prefer using the facility of credit cards. Every credit card comes with a credit limit. The bank fixes the credit limit for an individual based on yearly earnings, previous bank history, credibility etc.
Like other credit card companies, Punjab National Bank issues credit card statements at the completion of every billing cycle. Punjab National Bank credit card users will receive bill statements through mails, hard copies and online. A cycle of billing is defined as a period of time between billings. The time length of a billing cycle differs from one bank to another. Usually, it ranges from 20-45 days. In Punjab National Bank, the billing cycle for a newly issued credit card commences on the opening day. Any transactions you make during a billing cycle shall be added to your credit card account.
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Salient Features Of Credit Card Statements Issued By Punjab National Bank (PNB)
- The billing statements issued by Punjab National Bank are freely accessible.
- Customers can easily track their financial obligations and make sure to pay credit card bills in time.
- Customers can keep a track on monetary and non-monetary incentives. A monetary incentive can be a cashback offer whereas a non-monetary incentive can be reward points.
- Punjab National Bank issues billing statements through offline and online. The online platform of the bank for issuing billing statements has been excellent.
- Punjab National Bank promotes newly launched financial services or products through credit card statements. This way the bank builds the brand identity.
- The digital platform offered by Punjab National Bank for obtaining e-bills has been user-friendly and faster.
How To Read Punjab National Bank (PNB) Credit Card Statements
The layout of a credit card issued Punjab National Bank has been excellent. A billing statement of the bank is clubbed into eight sections, which include:
Part 1: The first section of a Punjab National Bank billing statement is the personal information. It contains personal details such as the name and the mailing address of a credit card user, including the contact number and the email address.
Part 2: The second section of a billing statement of the bank is the statement of a particular card. This section contains:
- Credit limit offered by the bank
- The due date for payments
- The overall dues as of date
- The credit limit used and available
- The cash limit used and available
- The minimum amount payable
Part 3: The third section of your credit card statement is the summary of accounts. This section contains very important information related to your account.
- The total debt
- The opening balance
- Fees and charges (if any)
Part 4: The fourth section of a Punjab National Bank credit card statement is the previous dues. The section contains details such as:
- One month
- Two months plus
- Three months plus
- The present levies
- The minimum amount dues
Part 5: The fifth section of a billing statement gives information related to indigenous transactions. The section includes:
- The date on which transactions are processed
- The complete description of each transaction you have made
- The total amount of domestic transactions
Part 6: The sixth section provides you information pertaining to your reward programs. Like mentioned earlier, a reward program is an incentive offered to boost credit card offers. This section includes the following details:
- The opening balance of a reward program account
- The total amount of reward points you have gained as of date
- The total amount of reward points you have disbursed as of date.
- The closing balance of a reward program account
Part 7: The seventh section of a Punjab National Bank credit card statement provides you details related to offers. Read this section without fail. If there are any new offers on your existing credit card accounts, you can avail.
Part 8: The eighth section may describe new personal financial services and offers introduced by the bank.
How To Read Your Punjab National Bank (PNB) Credit Card Statements
- A credit limit is the highest amount of credit offered and set by Punjab National Bank. Various aspects are taken into account to offer a credit limit for an individual, including monthly earnings, credit scores, account history, payment history, etc.
- The minimum payment is the lowest amount of payment one can remit on your credit card account in order to evade late payment fees and charges. The higher the credit card balance, the higher shall be the minimum payment. You are allowed to make payments more than the minimum amount.
- Punjab National Bank sets a billing cycle. The billing cycle is in the range of 20-45 days. A billing cycle of 30 days will commence on the first day and ends on the last day of the month.
- The payment section of your credit card bill statement gives you the list of payments you must make in order to avoid penalties. The minimum payment and the payment due date are included in this section.
- The statement period is related to your statement of accounts. The number of days in a statement period fluctuates on the basis of the actual length of a month, the account opening date, etc. The opening balance reflects the total amount of due at the commencement of the statement period.
- The closing balance reflects the unresolved balance on a credit card account at the completion of a statement period. The date of transactions is the date when transactions were made.
How To Handle Errors In Punjab National Bank (PNB) Credit Card Statements
- Sometimes, a credit card statement may have errors. For instance, the date of purchase and payment may be wrong. The billing amount may be wrong. Such types of errors should be resolved. The following are a few tips to resolve an error in a credit card statement issued by Punjab National Bank.
- Once received, you should carefully read your credit card statement to find out errors. If there are errors, bring them to the notice of billers immediately. Billers may resolve errors for you.
- If the billers do not resolve you complaints, bring to the notice of Punjab National Bank. You can write them a mail stating your issues.
- The information provided on a Punjab National Bank credit card statement should be validated carefully. Validate the billing and personal details on the card using receipts.
Frequently Asked Questions On Punjab National Bank Credit (PNB) Card Statements
- Can I get an e-billing statement?
Yes. You can obtain an e-billing statement. This facility is offered to both savings and current bank account holders of Punjab National Bank. You should be registered to avail this facility through the internet banking facility of Punjab National Bank.
- What is the frequency of Punjab National Bank credit card statements?
The SB account holders of Punjab National Bank will get monthly updates if you have registered for e-statements. The current account holders of Punjab National Bank shall receive updates on a daily basis, a weekly basis and monthly basis.
- Do I have to pay any charges to get Punjab National Bank credit card statements?
The service is free of cost.